Overview

• Japan’s August monthly report lowered its assessment of corporate profits due to U.S. trade policy effects centered on autos, while keeping the overall economy classified as moderately recovering.
• Government analysis found pronounced profit deterioration in auto-related industries in April–June and a decline in new job postings, prompting closer monitoring of investment and employment.
• Toyota reported July global production of 846,771 vehicles, up 5.3% year on year, and sales of 899,449, up 4.8%, both July records.
• Toyota’s U.S. output rose 28.5% in July, and limited local price increases were reported to have had very limited impact on demand after a spring rush eased.
• EU new-car registrations rose 7.4% in July to 914,680 units, with BYD reaching 9,698 registrations (about 3.1 times year on year) as Tesla fell 42.4% to 6,600; Japanese brands showed mixed results, including declines for Toyota, Suzuki and Mazda.