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Car company with major Huntsville ties tops stock report

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Wall Street rallies on hopes Fed’s rate hikes are done.

The star of our Huntsville and Alabama Stock Report on Wednesday was Toyota, which jumped on reports of its July-September profit increasing nearly threefold from a year ago.

The Japanese company with major local ties jumped $10.60 a share, or 6.1%, to close at $185.78, a little less than $10 off a 52-week high. Toyota Alabama was established in Huntsville in 2001 and started production in 2003. Over the past 20 years, the plant has had eight major investments, including six building expansions. Today, it produces approximately 3,000 engines each day for the RAV4, Corolla, Corolla Cross, Tacoma, Sequoia, Highlander, Sienna and Tundra. Toyota Alabama directly employees 2,000 and represents a $1.5 billion investment.Later this fall, Toyota Alabama will begin production on the new 2.

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