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Yahoo
05-08-2025
- Automotive
- Yahoo
US market avoids tariff impacts as outlook improves
Sales Summary According to preliminary estimates, US Light Vehicle (LV) sales grew by 7.3% YoY in July, to 1.39 million units. July 2025 had one additional selling day as compared to July 2024, meaning that sales were up by 4.1% YoY on a selling day-adjusted basis. The daily selling rate was measured at 53.6k units/day in July, up from 52.7k units/day in June. The annualized selling rate was estimated at 16.6 million units/year in July, up from 15.2 million units/year in June. Retail sales were estimated at 1.19 million units, up by 10.8% YoY, while fleet sales were thought to total 206k units, down by 4.5% YoY. OEM Analysis GM was once again the bestselling OEM in the market, with total sales of 237k units, and a market share of 17.0%. Despite a seemingly impressive monthly volume, GM's market share has now declined for three straight months. Toyota Group ranked second in July sales, on 218k units, for a 15.6% share, with the group's sales jumping by 19.9% YoY. Ford Group was in third place, on 182k units, but after a stellar Q2, the OEM's share fell back to a modest 13.1% in July. At a brand level, Toyota outsold Ford, by 187k units to 176k units. While it has been typical in recent times for Toyota to sell higher volumes than Ford, the reverse had been the case in June. Chevrolet was third, on 153k units. Model Analysis Despite a slightly quiet month for Ford overall, the F-150 was the nation's bestselling model once again in July, on 44.2k units – the F-150 has now held the top spot for four consecutive months. The Toyota RAV4 was in second on 39.8k units, while the Chevrolet Silverado came in third on 35.4k units. The ranking of the top three models was unchanged from June. The Chevrolet Equinox sold 31.8k units in July, its highest volume since March. Segment Analysis According to initial estimates, Compact Non-Premium SUV's market share was 21.5% in July, the segment's highest share since March. To some extent, however, this performance was upstaged by Midsize Non-Premium SUV, which achieved a market share of 17.2%, up by 2.0 pp on June's result, and the highest for the segment since May 2022. The segment was boosted by robust volumes from models such as the Toyota 4Runner and Hyundai Palisade. After two stronger months in May and June, the Large Pickup segment saw its market share ease back to 13.8% in July. David Oakley, Manager, Americas Sales Forecasts, GlobalData, said: 'There was little sign of tariffs negatively impacting the market in July. Automakers have made a point of absorbing the higher costs they are seeing, and some have even extended offers that were previously due to expire at the beginning of the July. Therefore, from the consumer's point-of-view, there was perhaps little to dissuade buyers from making purchases as normal. At the present time, OEMs are still vying for market share, rather than being overly concerned with protecting inventory. We should also bear in mind that for the majority of the month of July, the landscape regarding tariff rates in the longer-term was highly unclear. Automakers have therefore largely tried to maintain a business-as-usual approach, while mostly avoiding knee-jerk reactions in the face of uncertainty. The announcement that the tax credits available for Electric Vehicles (EVs) will be discontinued from September 30th appeared to notably boost sales of some EVs in July, an effect that we would expect to continue as we move through the next two months and the deadline looms larger'. Forecast Updates While OEMs have thus far largely adopted a 'holding pattern' approach to tariff uncertainty, this is not necessarily a strategy they can maintain indefinitely. Several automakers reported either outright financial losses in Q2, or large reductions in profitability due to the cost of absorbing tariffs. Recent trade deals with various countries have given greater clarity to the industry, as it appears that the benchmark rate will be 15% for countries outside of North America. Although the Trump administration raised tariffs on some Canadian goods to 35%, vehicles compliant with the USMCA trade agreement – which covers the vast majority of models sourced from Canada – will still be subject to 25% tariffs on the non-US content of the vehicle, and the same applies to Mexico. Nevertheless, the prospect remains of some vehicles sourced from the US's neighbors potentially incurring higher tariffs than a model imported from Japan, for example. In the longer-term, this seems unlikely to be sustained, but negotiations with Mexico, and particularly Canada, have been difficult. With an earlier-than-expected lowering of tariff rates, we now see US sales at around 15.7 million units in 2025, still down from almost 16.0 million units in 2024, but a considerably better outlook than would have been the case had the original tariffs remained in place without mitigation. This article was first published on GlobalData's dedicated research platform, the . "US market avoids tariff impacts as outlook improves – GlobalData" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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Reuters
15-06-2025
- Automotive
- Reuters
Breakingviews - Toyota buyout capitalises on insiders' control
MELBOURNE, June 16 (Reuters Breakingviews) - The $33 billion offer to buy out Toyota Industries (6201.T), opens new tab rests on shareholders acquiescing in effectively financing a large slug of the deal. As a shocking example of how to engineer around Japan's shareholder value push, it's hard to beat. The proposal was unveiled earlier this month by the world's largest carmaker, Toyota Motor (7203.T), opens new tab, its Chair Akio Toyoda, and the wider group's real estate firm, Toyota Fudosan. If successful, it would unravel one of the $4 trillion economy's most complex series of value-destructive cross-shareholdings. These ownership arrangements have long protected Japanese companies from outside interference – whether from activist investors or unwanted potential buyers. But they also engender conflicts of interest and inefficient deployment of capital that hinder GDP growth. Not helpful given the population is shrinking. That's why the government and bourse operator Japan Exchange want cross-shareholdings unwound. The take-private offer for one of its own from key members of the Toyota Group – an association of multiple interconnected companies – aligns with that goal, while enjoying one last hurrah of the benefits for insiders. Between them, the three buyers own just over 30% of Industries, the firm that started the Toyota empire more than a century ago as the maker of the world's first automatic looms. Include the stakes held by other Toyota Group companies Denso (6902.T), opens new tab, Aisin (7259.T), opens new tab and Toyota Tsusho (8015.T), opens new tab, which are not directly participating in the buyers' consortium, and that ownership tally jumps to 42%. Factor in Nippon Life and other Japanese companies holding strategic stakes that tend to vote with management and the bidders may hold sway over as much as 55% of the shares, reckons Travis Lundy, an analyst who publishes on Smartkarma. That means independent shareholders probably can't block the deal. But it is egregious enough to merit close examination. Start with the transaction's structure. The three partners are stumping up about $6 billion of equity and borrowing almost $20 billion from banks to buy out the world's largest maker of forklift trucks. That's a punchy amount of leverage: equity represents just 24% of the deal. Moreover, that sum doesn't cover all of the target's stock: Toyota Motor is helping itself and its buyout partners in several ways. First, it is agreeing to hold on to its almost 25% stake in Industries until after the tender offer for all other shareholders closes. This reduces the funds the buyers need to secure upfront. Second, when Toyota Motor does sell its shares back to the target, it'll be for about $7 billion, an 18% discount to what's being offered to other shareholders. Finally, the carmaker is also putting in the most cash, almost $5 billion, but downgrading its holdings from straight-up equity to non-voting preferred shares. There are more wrinkles too. For all their talk of investing in the take-private deal, Toyota Motor, Toyota Fudosan and Toyoda are really just ploughing back in the after-tax proceeds from selling their existing Industries stakes. In Toyoda's case, it's even less: he'd get $16 million before tax from tendering his current 0.05% stake in Industries and has pledged to put in just $7 million to finance the same company's buyout. That would give him 0.5% of the new entity created to hold Industries; Fudosan would own 99.5%, a more than 18-fold increase on its present holding. Then there's the price. Expectations of a deal, first reported on April 25, opens new tab, pushed Industries' shares as high as 18,400 yen ($127.70) apiece by early June, roughly 40% above the undisturbed price. The buyout consortium's actual offer on June 3 squelched those hopes: all shareholders except Toyota Motor would get 16,300 yen a share, a 23% premium. Even getting there took some negotiating, with the special committee set up by Industries' board to consider the proposal succeeding in getting the consortium to put more money on the table. It then twice, opens new tab rejected the 16,300 yen proposal, arguing that 'it was difficult to consider that the price secured the interests of the target company's minority shareholders to the maximum extent in light of the target company's intrinsic value and other factors'. Yet it was finally accepted, even though the price was only in the middle of the range of the fairness opinions, locally referred to as share valuation reports, from SMBC Nikko Securities and Mitsubishi UFJ Morgan Stanley Securities that valued the company at as much as almost 20,000 yen a share. According to a Breakingviews analysis, it could be worth even more, meaning the deal undervalues Industries by as much as 38%. Here's how: the target's core business is worth 12,000 yen a share, or $25 billion, applying the same 13.5 times multiple carried by German rival Kion ( opens new tab to this year's estimated earnings collated by LSEG. Then its listed stakes in Toyota Motor, Denso, Toyota Tsusho and Aisin are worth almost $28 billion, with another $2 billion or so coming from its holdings in other Toyota Group entities. The four big publicly traded companies have announced they are repurchasing their own shares from the buyout target at a 10% discount as part of the deal. Assume the others do, too, and factor in what, estimates Lundy, would be an almost $5 billion tax bill, and the sales would bring in $22 billion, or 10,500 yen a share. That brings Industries' total value to 22,500 yen a share. Ideally, those buybacks would take place before the tender offer begins in December, with the proceeds returned to shareholders. Executing those deals first would make it harder for any buyer to undervalue Industries. Instead, the buybacks are slated to happen only once the tender process successfully concludes. Some of the proceeds would then fund the delayed almost 1 trillion yen, roughly $7 billion, repurchase of Toyota Motor's shares in Industries. That would leave the new owners flush with as much as $15 billion, enough to pay off three-quarters of what they borrowed. It's a deal crying out for an activist investor to put pressure on the buyers to improve their offer. Hong Kong-based hedge fund Oasis Management intends to do so, Reuters reported earlier this month. Trouble is, Industries' shareholder register is packed with friends, so it's a hard fight to win. Japan's government and regulators can easily make things friendlier for independent shareholders if they want, including by tightening rules around related-party transactions. The Toyota deal is an example of how Tokyo is giving its biggest groups sufficient room to create new protective ownership structures even as they are forced to dismantle old ones. Follow Antony Currie on Bluesky, opens new tab and Linkedin, opens new tab.
Forbes
12-06-2025
- Automotive
- Forbes
David Christ, Toyota's Group VP, Talks Tariffs, China, & Toyota EVs
David Christ, Toyota Group VP and General Manager, discusses the brand's future with Forbes David Christ is Toyota's Group Vice President and General Manager in North America. Before this position he was Group Vice President and General Manager of Lexus in the U.S. In both roles David oversaw the sales, marketing and customer service for two of the industry's most successful automotive brands. In the last few weeks Toyota has released a stream of information on everything from all-new models like the 2026 Toyota RAV4 (the best-selling SUV in America) to the latest Toyota EV and electrification goals, which include having over 50% of Toyota's 2025 sales be either hybrid or electric vehicles. During this interview Dave talked about Toyota's future approach to electric vehicles, the impact of tariffs on Toyota's product and pricing plans, and how the company will deal with China's growing influence on the global automotive industry. Forbes: There's a lot of going on with Toyota right now, but let's start with the EV space. We might see the $7,500 electric vehicle incentive go away soon, and it looks like demand for EVs is plateauing at around 8% market share. What's Toyota's EV plan look like today? David Christ: We believe in electric vehicles and we've have electric vehicles we're launching soon and we're excited about them. We want to have selection in different price positions on our BEV products and give our customers choice. And battery electric vehicles are part of our portfolio approach, which is to say we believe that we should build a multitude of different powertrains, and let the customer decide what's best for their lifestyle. So we make hybrids, we make plug-in hybrids, we make battery electric vehicles. We also make fuel cell vehicles that we sell in California. And our goal is really to have a lot of choice for the customer and let the customer pick what technology is best for them. Forbes: Whether you're talking about hybrid or electric vehicles, they all need batteries of various sizes and it seems like battery prices and the components that go into them just keep getting more expensive and maybe harder to get. It also seems like China did some planning and cornered the market on a lot of battery component elements and rare earth metals. Now we hear we're going to open some mines up in Nevada and other parts of planet maybe not let them have such a stranglehold on those battery components. How is Toyota dealing with the need to make sure their battery electric vehicles and their hybrid vehicles are sufficiently powered and have enough volume but also wrestle with the cost of electric vehicles – and specifically battery – production. David Christ: Yeah, it's a great question. Obviously I'm not a procurement expert, but I will say it's been pretty well reported how much China controls some of the rare earth materials that go into batteries. We've done a really good job of developing a supply chain that's robust and big enough for us to handle our volume. We're very proud of the fact that we have significantly increased what we call the electrification of our lineup. In 2023 about 30% of our cars that we sold in the US were what we call electrified, meaning hybrid, plug-in hybrid, or BEV, or fuel cell. Last year it was 45%. This year it's going to be over 50%. So every year we have moved forward in putting more electrified cars on the road. It's what our customers want and it's also really good for the environment. And the other thing we've done, which we started many years ago, we made a really significant investment in the state of North Carolina to build a battery plan that's going to build batteries for BEV's and hybrids and plug-in hybrids. So we'll really be able to supply the U.S. from North Carolina for our hybrid powertrains. Forbes: Nobody knows for sure, but where do you see, say 10 years from now, battery electric vehicles (BEVs), hybrids, plug-in hybrids and traditional gasoline cars. What will be the breakdown, either for the US market or specifically for Toyota?David Christ: It's a great question. We've always believed in customer choice and we have stuck to our strategy, that the portfolio approach – making several options available to customers – is the best. Battery electric vehicles are a really important part of our lineup and we're expanding how many BEV we sell. We're also expanding what categories of price positioning they are in so that we can have more BEV's for more customers. But the truth is not every customer can use a BEV every day. Some people with long commutes, or people that travel extensively outside of where there's charging, the BEV is just not right for them. Well then here comes plug-in hybrids. Those are great options for those people because a lot around town driving is in an EV mode, and then if they need to go on a long trip they fall back to the hybrid powertrain. And then of course hybrids, we've been industry leader in hybrids. We started selling hybrids in 1997 with Prius. We've really, we feel, perfected that technology and that's a great option for customers as well. So overall we're going to expand those options throughout our lineup, and we're gonna give customers the choice and let them pick. Forbes: What do you consider Toyota's strength right now, product wise. You just mentioned hybrids, and that's a kind of drivetrain, but what about specific vehicle types? For both Toyota and Lexus where do you feel like your company is well positioned and, conversely, where would you like to see more attention played or more resources thrown in future?David Christ: I think our strength in our product lineup is we listen to our customers. You know Corolla Cross is a great example. In 2022 we came out with the Corolla Cross, which is smaller and more cost-effective than RAV4, and we did that because our consumers were saying that they wanted a lower priced SUV. So here comes the Corolla Cross, and we've done that similarly throughout the lineup. Our GR products – super fun to drive, exhilarating performance, all because our customers wanted the fun-to-drive aspect of a car. And it's a commitment that the two door sports car and the four-door fun hatchback, or fun wagon, is not dead. So we really just listen to customers and then we try and provide products that fit their needs. The all-new 2026 Toyota RAV4 hits showrooms soon, and is Toyota's best selling model Forbes: What, if anything, has Toyota done as a result of all this tariff turbulence over the last few months. It seems like you shouldn't do anything because nobody knows when they're going to settle in and you don't want to make long-term plans based on short term turbulence. David Christ: We're an action oriented company, and our dealers are action oriented people, and there's been a lot of 'What are we going to do?' And our response has been, 'We're in a wait-and-see mode.'And the reason we're wait-and-see is exactly what you said – you don't want to make a production or a pricing decision that has long range impact in a short term decision-making timeframe. Once we know the full scope of the tariff impact we'll obviously evaluate where we build our cars, we'll evaluate how we price our cars, and we'll make decisions accordingly. But we're not in a rush to overcompensate right now because of where we are today. So we're in a wait-and-see, and I know for some people that's hard because you want to know what's next. But sometimes slow-and-steady wins the race, so we're being patient. Toyota's Tacoma represents a uniquely American product that, so far, isn't threatened by China Forbes: On the opposite end of spectrum is long-term planning, and it seems like China is this unrelenting force globally in their ability to produce low priced vehicles that are getting better and better. It's not just low-cost vehicles that are clearly reflective their low cost. They're actually pretty desirable. And there's a certain amount of protection that the U.S. market is going to have because of tariffs. But a lot of other markets, Europe and parts of Asia, see China sucking up a lot of market share. What's Toyota's long-term thoughts to counter the Chinese automotive industry's growth? David Christ: We know the China market well. We have obviously a big presence in China, Toyota does, and so does Lexus. So we know that market, we build in that market, we sell in that market. Obviously it's a big global competitor. They don't sell any products in the US. Obviously that's a political discussion for other people to figure out. Until they're here in the U.S. we just keep our focus on the Chinese market for Japan, for Toyota there, and the team there does a really good job. We've been growing in China and I think it's a long-term good market for us. Forbes: So you feel pretty well positioned in spite of China's constant growth globally. David Christ: There's no doubt that in the BEV space they have had many years of learning and growing as BEV manufacturers. I think to a certain extent, many brands are trying to understand what they've done and what they've learned. For now they're not sold in the US, so we really don't have a lot to talk about regarding China's impact on Toyota EV and overall product plans for this market.
Japan Times
10-06-2025
- Automotive
- Japan Times
Toyota Industries shareholders question buyout at annual meeting
Toyota Industries held what could be its last annual meeting as a public company, after the Toyota group unveiled plans to privatize the maker of forklifts, textile looms and auto parts. While the ¥4.7 trillion ($32.4 billion) buyout bid by an entity led by Toyota Motor Chairman Akio Toyoda wasn't formally on the agenda Tuesday, it overshadowed the gathering near Nagoya, Japan, as shareholders aired their grievances and sought clarity about the proposal. The Toyota group's plan to privatize Toyota Industries, the original company that birthed the world's largest carmaker, has drawn sharp criticism from investors and analysts since it was announced a week ago. They argue that the planned tender offer of ¥16,300 per share is too much of a discount on the shares and doesn't represent the intrinsic value of the business. Koichi Ito, chief executive officer of Toyota Industries, fielded back-to-back questions from shareholders who sought explanations for why the deal was opaque, and why the planned buyout offer fell short of the company's market value. "Its incredibly unfortunate that Toyota's original business is joining the group and squeezing out its shareholders,' one investor said. Another added, "I don't think I'm alone in feeling the price was low.' Toyoda will probably face similar questions when Toyota Motor holds it annual meeting later this week. The privatization of Toyota Industries could resolve a parent-child structure that has been criticized in the past, and is also in line with the Japanese government's push to resolve such relationships. At the same time, a takeover may give Toyoda greater influence over the manufacturing group at a price that risks alienating stakeholders. "We chose this path as a new step forward for the company,' Ito said at the annual meeting. "We hope to gain everyone's understanding and support.' All of the company's proposals, including the Toyota Industries board members up for reelection, were approved on Tuesday. The meeting was the longest in its history, and also had the most number of questions by shareholders ever, according to the company. Toyota Fudosan, which is owned by 15 companies within the Toyota group, will mostly own Toyota Industries via a holding company once the deal is completed. Toyoda, who is also the real estate firm's chairman, will personally invest ¥1 billion into the acquiring entity as well. "The Toyota group companies wanted to demonstrate to investors that they had been listening to their concerns and were now willing to unwind their cross-shareholdings,' said Julie Boote, an automotive analyst at London-based research firm Pelham Smithers Associates. "This move backfired, because the cross-shareholdings remain in place, indirectly.' The proposed buyout has drawn more attention to Toyota Fudosan, which itself holds more than ¥1 trillion in shares across the Toyota group. Toyota Fudosan is known as a real estate company with prominent buildings such as Midland Square, a skyscraper near Toyota Motor's headquarters in the city of Nagoya. Toyoda has been chairman of Toyota Fudosan since 2015, and before that, the position was held by his father, Shoichiro. The real estate business is effectively acting as a holding company, according to Kenta Kon, a former Toyota Motor chief financial officer who holds key positions at group companies, including Toyota Fudosan. The planned tender offer for Toyota Industries includes funding from Toyota Motor. The country's top banks — Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group — will also together lend ¥2.8 trillion to the acquisition company to support the buyout. Toyoda defended the deal in an interview published Friday on the company's media site, pushing back against criticism by investors and analysts who say the terms hand over too much for too little. The grandson of Toyota Motor's founder denied that the plan was designed to strengthen his family's grip on the business group, and said the real goal is to restore the group's identity and help it overcome seismic changes in the global automobile industry.
Yahoo
05-06-2025
- Automotive
- Yahoo
US vehicle market slows as industry braces for tariffs impact
Sales Summary According to preliminary estimates, US Light Vehicle (LV) sales grew by 1.5% year-on-year (YoY) in May 2025, to 1.46 million units. May 2025 had one extra selling day compared to May 2024, meaning that sales fell by 2.2% YoY on a selling day-adjusted basis. The daily selling rate was measured at 54.2k units/day in May, down from 56.7k units/day in April. The annualized selling rate was estimated at 15.3 million units/year in May, down from 17.4 million units/year in April. Retail sales were estimated at 1.2 million units, up by 2.2% YoY, while fleet sales were thought to total 261k units, down by 1.6% YoY. OEM Analysis GM once again led the market, with total sales of 258k units and a market share of 17.6%. However, a notably strong performance from Toyota Group meant that the gap between the Japanese OEM and GM was under 18k units in May, the smallest difference since April 2024. Toyota Group's volumes (240k units) were its highest since May 2021. Even more remarkable was Ford Group, which enjoyed its highest monthly sales total since May 2019, with 215k units sold. At a brand level, Toyota led the rankings – as has been the case in each month of the year to date – on 207k units. However, Ford was close behind on 203k units, with Chevrolet in third on 163k units. Model Analysis For a second consecutive month, the Ford F-150 led the sales rankings, on 46.3k units. The Toyota RAV4 came in second, on 45.3k units, while the Chevrolet Silverado claimed third place in May, on 40.8k units. This was the first time since October 2024 that the Silverado had occupied such a lofty position. The Honda CR-V and Toyota Camry completed the top five. The Camry made its first appearance in the top five bestselling models since February 2023. Segment Analysis Compact Non-Premium SUV's market share was 21% in May, according to initial estimates, its lowest share of the year to date. However, the segment's market share was still up by 0.6 pp YoY. Midsize Non-Premium SUV accounted for 15.6% of the market in May, down around 0.2 pp from its April share, while Large Pickup enjoyed its highest share of 2025 so far, on 14.5%. Indeed, only one month since the beginning of 2023 (December 2024) has seen the segment claim a larger share of the total market. Enticing offers on models such as the Silverado seem to have driven an improved performance for Large Pickups. David Oakley, Manager, Americas Sales Forecasts, GlobalData, said: 'While sales in May were not poor by any means, the month's results were a reflection of the way we have been expecting the market to develop since the picture regarding tariffs started to take shape. After the initial surge in sales activity in March and April, the decline in the selling rate in May appears to indicate that many of those consumers who decided to pull purchases ahead to avoid potential tariff-related pricing increases have now done so. We are also observing sharp differences in performance between OEMs. Certain automakers are starting to see problems with low inventory, which in some cases may be linked to hesitancy over how to respond to the imposition of tariffs. Similarly, brands that have tended to rely on fleet sales to boost volumes may be struggling in the current circumstances, as a higher priority is being put on more profitable retail sales – but retail sales depend to a great extent on the curb appeal of the models themselves. Finally, Premium makes are also seeing somewhat more subdued sales, although the reasons for this are varied. An over-reliance on EVs is a significant headwind for some brands, while others may be suffering from economic uncertainty andtariff-related disruption'. Forecast Updates We currently expect 2025 sales to come in at around 15.2 million units, down from almost 16 million units in 2024, and representing a YoY decline of around 5%. While the extent to which sales will slow in June remains to be seen, we forecast the YoY comparison to turn negative, as prices increase and supply chain problems start to ramp up. The second half of the year is set to see a more significant slowdown in sales, as OEMs gradually adjust pricing to reflect the new realities of the trade environment. Still, the situation remains extremely fluid, and changes in the administration's policy could mitigate the worst effects of tariffs, in which case there is some upside risk to our forecast. This article was first published on GlobalData's dedicated research platform, the . "US vehicle market slows as industry braces for tariffs impact – GlobalData" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
