Toyota July Auto Sales Slip 20%

- Toyota July Auto Sales Slip 20%



Aug 2, 2011

Toyota Motor Sales USA Inc.(NYSE:TM) announced Tuesday that its July U.S. sales fell 22.7% as it continued to deal with parts shortages stemming from the March earthquake and tsunami in Japan.

Toyota sold 130,802 vehicles in July, compared to the 169,224 in the same month last year.

The Japanese automaker sold 27,016 of its Camry car, 22.9% down from 35,058 in July 2010.

Corolla sales dropped 35.7% to 17,577, while sales of the Prius hybrid, which is made only in Japan, tumbled 43.9% to 7,907.

Sales of the Sienna minivan rose 2.3 percent to 10,620.

Toyota Motor has a potential upside of 12.7% based on a current price of $81.96 and an average consensus analyst price target of $92.4.

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Trina Solar Shares Slip

- Trina Solar Shares Slip



Aug 2, 2011

Shares of Trina Solar Ltd.(NYSE:TSL) fell over 6% Tuesday in premarket trading after the company lowered its expectation for shipments of solar modules and profit margins in the second quarter.

Trina, a Chinese solar module maker, reported that it expects to report module shipments in the range of 395 to 397 megawatts for the three month period ended June 30. The company formerly said it would ship between 430 and 450 megawatts. Overall profit margins also were lowered to between 17 and 17.5%, compared with earlier forecasts of margin percentages in the "low 20s."

Company officials said shipments and profit margins suffered as demand for solar modules slowed down, in part because Italy cut solar subsidies.

Chairman and CEO Jifan Gao said, "We expect a significant improvement in production costs and an increase in shipment volumes in the third quarter."

Trina retained its prediction for 2011 shipments between 1.75 and 1.8 gigawatts. That's a rise of 65.6 to 70.3% from last year. The company will report its second-quarter results on Aug. 23.

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