Toyota (TM Quote) took its global sales numbers down Monday, mostly because of a weakening North American car market. The vehicle sales plan for this year is now 9.5 million units, down from the 9.85 million the company had recently forecast.
Despite the bad headlines, the carmaker is still on track to sell more vehicles than it did last year. In the U.S., Toyota plans to sell 2.44 million vehicles, less than the earlier prediction of 2.64 million. The company is the world's second-largest automaker in annual vehicles sales, behind General Motors (GM Quote).
Shares of Toyota are down nearly 30% in the last year, and we are slowly becoming interested. The company has a dividend yield of 2.43%, based on Friday's closing stock price of $91.92. We'll keep everyone posted as to when we believe the risk/reward for owning shares becomes favorable. ...
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