Toyota's Apple Trap
The world's largest carmaker has to crack China and India if it's to avoid stagnation
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Toyota should be cruising in the fast lane of global automakers right now. So why is its share price stuck in traffic?
It's regained the crown of world's largest automaker from Volkswagen, and earned a little schadenfreude too after its German rival was left spinning its wheels in an emissions-fraud morass. Negative interest rates from the Bank of Japan should also provide a wind at its back. But if you think the shares' 12 percent fall this year looks modest in the context of January's market turmoil, take a look where Toyota stands in valuation terms: