Tuesday, October 7, 2008

VW Overtakes Toyota as World’s Largest Automaker by Value

Posted by wedos at 9:00 AM

Toyota VW AG StocksNo thanks to the collapse of the U.S. mortgage market, Toyota lost its place today as the world’s largest automaker by stock value to the VW Group. While the closing of the Tokyo Stock Market saw Toyota declining nearly 5 percent to 3,710 yen, which translates to a market capitalization of $124.3 billion U.S., the German automaker’s stocks were up 6%, having earlier surged as much as 55% in the Dow Jones Stoxx 600 Index. The VW Group’s stock value is $127.5 billion U.S. at today's exchange rate -Continued

According to Bloomberg, Volkswagen shares are up by a staggering 190 percent this year, and the company's stocks was one of only four in the Dow Jones Stoxx 600 Index that managed to advance yesterday. By contrast, Toyota has seen its shares drop 56 percent after its peak at 8,340 yen in February 2007. Well, as they say, easy come, easy go and that stabds for both companies...

Via: Bloomberg

 

Labels: , ,

0 Comments:

Post a Comment



Subscribe to: Post Comments (Atom)
My Ping in TotalPing.com