Category Archives: financial results

Ford Motor Posts Q2 Pre-Tax Profit of $2.6 Billion

It was a solid quarter particularly when compared with Q1 results of a pre-tax profit of $1.4 billion, a decrease of $765 million compared Q1 of 2013. It’s possible that Ford moved charges into Q1 to pave the way for the CEO change that took place on 1 July with Mark Field replacing Alan Mulally. Continue reading

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GM Q2 Flops with $200 Million Net Income. Stockholders Whacked with $1.2 Billion in Recall Charges

GM is taking a $900 million non-cash pre-tax special charge in Q2 for the estimated costs of future possible recalls for up to the next 10 years on 30 million GM vehicles on the road today. A special charge of $400 million was taken for the GM ignition switch compensation program. GM said this is the best estimate of the amounts that may be paid to claimants. It guess-timated the total cost could increase by approximately $200 million. Continue reading

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Auto Loan Subprime and Prime Losses Increase In May

Losses for U.S. prime auto loan asset backed securities and subprime ABS increased in May but strong used care values propped up the results. Continue reading

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Ford Motor Declares Q3 Dividend

The Board of Directors of Ford Motor Company declared a Q3 dividend of $0.125 per share on the company’s outstanding Class B – controlled by the family – as well as shares of common stock. Continue reading

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GM to take $700 Million Charge for Q2 Safety Recalls

GM said today in an SEC filing that it expects to take a charge of up to $700 million in the second quarter for the cost of recall-related repairs announced. This amount includes a previously disclosed $400 million charge for recalls announced May 15 and May 20. Continue reading

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Oops! Chrysler Group Posts Q1 Loss of $690 Million Because of UAW Buyout. Income, Revenue, Cash Flow all Increase, though

Chrysler Group reported net loss of $690 million for Q1 because of $1.2 billion in charges for the UAW buyout, which allowed Fiat to takeover complete control of Chrysler. Continue reading

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Ford Motor Q1 Pre-Tax Profit $1.4 Billion. Net $989 Million. Both Down

Ford Motor Company today posted decidedly mixed results as its warranty costs, older products, increased competition and special items led to a Q1 pre-tax profit of $1.4 billion, a decrease of $765 million compared with a year ago. Q1 net income is $989 million, or 24 cents per share, a decrease of $622 million compared with a year ago, including pre-tax special item charges of $122 million. Continue reading

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Switched Off! GM Q1 Earnings Plummet to $100 Million

General Motors Co. (NYSE: GM) today announced Q1 net income only $100 million, or $0.06 per diluted share. Q1 was a disaster with its net loss from special items of $400 million, or $(0.23) per diluted share, and a whopping $1.3 billion pre-tax charge for the cost of recall-related repairs, or $(0.48) per diluted share – a negative $1.7 Billion swing. Continue reading

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Toyota Motor Production 2.6 Million in Japanese Q4.

Toyota Motor posted strong results in its latest quarter with the fifth consecutive year of offshore production increases – a record high – with an ongoing and growing manufacturing presence in North America, Latin America, Europe, Asia and Oceania. Continue reading

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GM Files $750 Million Q1 Earnings Charge with SEC

The three-quarters of a billion dollar expense to stockholders includes yesterday’s safety recall of electric power steering assist affecting approximately 1.3 million vehicles and other safety recalls announced in the three months ending 31 March 2014. Continue reading

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