10 Best Bargain Stocks to Buy in May

4. Toyota Motor Corporation (NYSE:TM)

Forward P/E as of April 11: ~8.17x

Average Upside Potential: ~35.1%

Number of Hedge Fund Holders: 13

Toyota Motor Corporation (NYSE:TM) is engaged in designing, manufacturing, assembling, and selling passenger vehicles, minivans and commercial vehicles, and related parts and accessories. Reuters, while quoting the Nikkei newspaper, reported that the company targets to have ~15 EV models developed on its own by 2027. Toyota Motor Corporation (NYSE:TM) is targeting production of ~1 million cars a year by then. The company has 5 EV models developed in-house, manufacturing them in Japan and China, highlighted Reuters (while quoting the Nikkei). The expansion of production to the US, Thailand, and Argentina is expected to help hedge against tariff and foreign exchange risks and cut the delivery times.

Toyota Motor North America has released March 2025 US sales of 231,335 vehicles, reflecting an increase of 7.7% on a volume basis and an increase of 11.8% on a daily selling rate (DSR) basis as compared to March 2024. The sales of electrified vehicles for the month sat at 112,608, up by 44.1% on a volume basis and by 49.6% on a DSR basis, representing 48.7% of the total sales volume. Toyota Motor Corporation (NYSE:TM) highlighted that Toyota Battery Manufacturing, North Carolina (TBMNC) is its 11^th manufacturing entity in the US and the first to produce batteries for HEVs, PHEVs, and BEVs in the country. Overall, the Toyota Motor Corporation (NYSE:TM)’s aggressive push in the broader EV market, aided by robust investments and the expansion of its vehicle line-up, places it well to reap the benefits of elevated demand for EVs.