The numbers were eye popping.
The you know, the street had been for a while.
The street, unless it for a while,
had been well above Toyota's full year forecast.
But you know they they shot their full year guidance
well above what what,
what we and I think most of the street was
expecting.
So outstanding numbers, you know second quarter numbers equally good.
You know they besides having the strong performance from you
know benefiting from the end.
I think equally important if not more so were some
of the benefits they've seen from strong pricing of automobiles
particularly in the US market as well as you know
the recovery in in volumes as we've come off of
a three-year depression in auto sales on the back of
the pandemic.
And the chip shortage and now there's pent up demand
out there and people are responding to it.
You know what I also liked out of these numbers,
it's the growing percentage of sales that we see from
electrics and hybrids.
It was at 35% in the first quarter.
Now that number is improving.
How does it compare to industry,
industry peers and what is Toyota strategy to charge up
if you wanted to use the expression EV and hybrid
sales through 2024?
Charge up. I like that.
But actually what was most interesting in that number is
they had a forecast of 200,000 battery electric vehicles for
this year and they ran that back to I think
about 130,000 or so vehicles.
What was it? What what was interesting about that is
you know they were talking about the pricing war that
we've seen in China and they said well you know
a lot of the sales would be in China.
You know, there's a bloody pricing war going on there.
We don't want to lose money.
S they've been pushing the hybrids instead.
And that what's interesting about that is it's Toyota's way
of saying we're going to have multiple lanes of attack
in terms of dealing with,
you know, lower emissions, carbon neutrality,
climate change. You know, EVs form an important part of
it,
but it is not the entire,
you know, not the entire story.
And you know, when we see,
you know, firms in China losing buckets of money.
Uh, competing on price in in EVs.
I think it's the right strategy.