One of the most important factors who conducted to this was the high level of fuel price. That is why the demand for Tundra pickups and Sequoia sport-utility vehicles has decreased.
“The auto industry is in a difficult situation right now,” said Edwin Merner, president of Atlantis Investment Research Corp. in Tokyo, whose parent company manages about $3.1 billion. “Toyota is well positioned to survive, but it will suffer like all the others.”
Volkswagen’s shares have gained 87 percent this year as Porsche SE bid for a majority stake and hedge funds that had bet on the shares falling were forced to close their positions.