Tuesday Ticker: Toyota remains world’s top-selling automaker; EV stocks rally and drop

Toronto, Ontario ⁠— Toyota remains the top-selling automaker globally, but not in Canada; Lucid and other EV stocks see a short-lived increase and Uni-Select prepares to unveil its Q4 2022 results in this weekly Tuesday Ticker.

Toyota on top

Toyota sold more than 10.5 million vehicles in 2022, retaining its spot as the world’s top-selling automaker.

This marks the third straight year the Japanese OEM has claimed the title. 

In Canada, Toyota was the number three automaker, selling 45,176 units⁠⁠—9.5 percent more than in 2021. 

General Motors and Ford were the top two automakers in Canada, respectively. This marks the thirteenth consecutive year Ford has reigned as the country’s top-selling automaker. 

Remain Lucid

Shares of electric vehicle maker Lucid rallied last Friday following rumours that the Saudi Public Investment Fund was planning to buy out the remainder of the company. 

Shares were up 62.85 percent between market open and 2 p.m. EST Friday. It didn’t last long, though⁠—by 2:30 p.m., shares dropped 11.68 percent.

As of Monday at 2 p.m., shares of Lucid were trading at US$11.95, down 7.16 percent from Monday’s open. 

Lucid declined to comment on the matter, telling Benzinga it “does not comment on rumours or speculation.”

Other electric vehicle stocks saw significant increases⁠—and corresponding drops⁠—on Friday. Tesla shares rose 7.8 percent between market open and noon Friday; Rivian was up 13.36 percent between open and 1:30 p.m. 

Tesla closed at US$177.90 per share, up 64 percent year-to-date and up 9.4 percent from Friday’s open; Rivian closed at US$19.83 per share Friday, up 6.6 percent year-to-date and 8.7 percent from Friday’s open. 

Eyes on Uni-Select

Uni-Select will release its Q4 2022 financial results before the market opens on Feb. 17, the supplier announced last week. 

A conference call will be held after the release, at 8 a.m. EST, to discuss the results and answer questions.

According to the Motley Fool, shares of Uni-Select increased 66.4 percent it $42.84 per share in 2022 against an 8.7 percent decline in the TSX Composite Benchmark. The outlet also reported this was the second consecutive year Uni-Select beat the market by a wide margin; the stock delivered 217.4 percent positive returns to investors in 2021. 



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