Record profit numbers — that were in line with the market’s expectations — would not usually be met with an 8 per cent slump in a company’s share price. But there were good reasons for the reaction to Toyota Motor’s first-quarter results.
The Japanese automaker continued its streak of record earnings for the June quarter with a 17 per cent increase in profit to ￥1.3tn ($8.7bn), in results announced on Thursday.
It has several things going in its favour. It is the biggest beneficiary of a global hybrid renaissance amid slowing demand for electric vehicles, especially in the US. Hybrid electric vehicle sales there grew 50 per cent last year.
您已閱讀27%（645字），剩余73%（1760字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。