Category Archives: financial results

Huge Bonus declared for Porsche employees

During 2014 the launch of the Porsche Macan as the second SUV in the model range from what was once a sports car maker increased deliveries by 17% to ~190,000 vehicles compared to 2013. This earned owner Volkswagen Group roughly $23,000 per Porsche peddled. Continue reading

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GM Dumps Most Manufacturing in Russia for Imports Only

GM in Russia will now try to sell in the premium segment of market with Cadillac – perhaps some built in China – and U.S.-built Chevrolet products such as the Corvette, Camaro and Tahoe. Continue reading

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US Subprime Loan Quality Weakens

U.S. auto lenders are likely to see subprime loan asset quality weaken in 2015, with annualized net losses (ANLs) above their historical averages of 6.24% recently reaching 8% before dropping to 7.26% as of the end of February. The level remains below the past recession peaks of 9%-13%, according to Fitch. Continue reading

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China World’s Biggest Auto Market by Units, Not Revenue

Total value for new vehicles sold in China, the world’s largest market by volume, lagged the U.S. by as much as $161 billion last year, based on a comparison of pricing data. Continue reading

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General Motors Will Distribute Cash as Wilson Drops Board Bid

The deal is a major victory for the investors while giving relief to GM of what could have evolved into a fight with major shareholders. However, GM slashed its previously announced cash target that it claimed was key to keeping a ‘fortress balance sheet.” How the ratings agencies react remains to be seen. Continue reading

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Tesla Posts Loss Yet Again

Chief booster Elon Musk said in a letter to shareholders – not without billions in self interest – that the company expected to begin deliveries of the Model X in Q3 during this year – a long delay from original promises. Continue reading

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Proxy Fight Looming at General Motors by Hedge Fund Sharks?

The ploy is clearly threat to GM’s “fortress balance sheet” strategy that looks to clean up underfunded pension liabilities and preserve enough cash to weather another global recession. GM has now posted 20 consecutive quarters of profits. Continue reading

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2014 Profits All Drop at FCA, Ford, GM

The Detroit Three all posted 2014 profits that were down from a year earlier in a booming global auto market, but each had different reasons for the declines, in stark contrast to other global automakers, notably Volkswagen Group, and Toyota Motor Corporation, Whig had record breaking results. Continue reading

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GM in Process of Dumping Ally, Formerly GMAC

General Motors is in the midst of rebuilding its long gone GMAC financial empire due to bankruptcy, is replacing it with General Motors Financial, which appears to be an exact duplicate of the auto-lending arm of Ally, formally known as GMAC without the housing lending risks that sunk the company. Continue reading

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U.S. New Vehicle Revenue at $38 Billion in January

The average transaction price (ATP) for light vehicles was $32,812, up 3.5% from a year ago, while average incentive spending per unit increased by $93 to $2,642. Continue reading

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GM Dividend Stays at 30 Cents

The General Motors Company (NYSE: GM) Board of Directors today declared a Q1 2015 dividend of 30 cents per share on its common stock. The dividend is payable Tuesday 24 March 24 to all common stockholders of record as of Wednesday, 11 March. On an annual basis, the dividend of $1.20 is paying 3.6%. Continue reading

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GM Buys Back all Series A Preferred Stock

The preferred shares had a liquidation preference of $25 per and accrued cumulative dividends at a rate equal to 9% annually, which was an expensive ~$350 million annual cost. GM used cheaper debt to buy the stock. Continue reading

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First Earnings since Fiat Chrysler Merger Are Mixed to Weak

Worrisome was a huge charge that FCA took for the cost of safety recalls and warranty repairs in the U.S. – a whopping €200 million for Q3 alone. Continue reading

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Ford Q3 Earnings off as Sales Drop, Recalls and Launches Hurt

Guidance was unchanged from the Ford’s late September adjustment down to a 2014 pre-tax profit of about $6 billion, excluding special items, which pummeled the stock. Ford common took another beating by ending the day at $13.78 per share, a 4.3% drop. Continue reading

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GM Posts Mediocre Q3 Earnings of $1.4 billion. Revenue Flat

All of GM’s profit came from North America, with – Europe, International Operations, South America and GM Financial down or flat year-over-year. Continue reading

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