Toyota sales recover to 84% of last years level. Toyota sales plunge 16% y/y. (Choose the headline you prefer).
Attention is on tech earnings announcements (see Greg's earlier posts) but this overnight re the car manufacturer ICYMI.
Toyota Corp (including subsidiaries Daihatsu, Hno) June 2020:
- Worldwide sales: Sixth consecutive month of decrease
- Sales inside of Japan: Ninth consecutive month of decrease
- Sales outside of Japan: Sixth consecutive month of decrease
- seventh consecutive month of decrease
Toyota is, of course, only one company.
A takeaway you might like to consider is that the results announced for the tech behemoths earlier, although sensational beats, are not necessarily indicative of the economy - folks do need to be reminded from time to time that the stock market is not the economy, and these big techs are certainly not. Not to diminish their great results, but do put them in the perspective of the work from home wave and all that means for tech.
Anyway, that's enough stick-in-the -mud from me. Back to sunshine and lollipops!