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Category Archives: economy
Debt to Watch as Covid Spreads – New FCA Bank Notes
AutoInformed thinks it too reflects the uncertainty in global economies as Central Banks – led by what some say is a printing-press happy US Treasury – have pushed interest rates on government debt to virtually zero. Continue reading
Toyota Sustaining Some Profits During FY 2021 Covid Crisis
In Japan this morning Toyota Motor said that during the first half of Fiscal Year 2021* during the Covid Crisis that profits were maintained even though sales, operating income and margins dropped drastically. Furthermore a special dividend would be declared that appears risky given the ongoing spread and re-emergence of Covid in most of its major markets. Continue reading
GM Earns $5.3B in Q3 – Trucks, China Help
General Motors Co. (NYSE: GM) today reported Q3 earnings helped by China and North American Sales of truck and SUVs despite the COVID-19 pandemic. Specifically, GM launched an all-new portfolio of full-size Chevrolet, GMC and Cadillac sport utility vehicles, and maintained its leading U.S. full-size pickup truck and large SUV market share. Continue reading
Posted in economy, financial results, results
Tagged auto industry commentary, autoinformed, autoinformed.com, GM Earnings Q3, Ken Zino
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Ford Q3 Net Income at $2.4B Treads Water. Q4 $500M Loss?
As a result, the Ford outlook is wobbly including a fourth quarter adjusted EBIT between break-even and a, gulp, $500 million loss. Continue reading
Multinationals Liable For Supply Chains? Swiss Vote Due
“For too long, multinational corporations have been able to hide their abuses behind a veneer of respectability, using plausible deniability whenever bad behavior is highlighted. The Responsible Business Initiative is part of a global movement by unions and civil society organizations to hold companies responsible for their behavior,” said IndustriALL general secretary Valter Sanches. Continue reading
Daimler Q3 Covid Results – Sales, Revenue Down. Earnings Up
Daimler expects that the significant unit-sales reductions recorded in the first nine months due to the COVID-19 pandemic will only be partially offset by the end of the year. Group unit sales and Group revenue in 2020 are forecast to be significantly lower than in the previous year. Continue reading
Groupe Renault Q3 Revenues -8% at €10,374m, Sales -6%
“This third quarter highlights the change in our commercial policy, which now focuses on profitability rather than volumes.” Our EV performance, our E-TECH hybrid models which have been very well received…” claimed Luca de Meo, CEO of Renault. Group revenues reached €10,374 million (-8.2%) in the quarter. Continue reading
California Remains Below 2020 Emissions Target
Executive Summary: California’s latest greenhouse gas data shows that while the state continues to stay below its 2020 target for emissions, there is much more work to do to achieve carbon neutrality by 2045. Executive Order N-79-20 issued 23 September by California Governor Newsom recognized that achieving our air quality and climate goals hinge on transforming the state’s transportation sector. In that order, the Governor calls for 100% sales of zero emission light-duty vehicles by 2035. Continue reading
Covid Causalities: US Trade Deficit Continues to Increase
Particularly worrisome for the Covid -Sick US economy were goods deficits with countries that effectively addressed the Covid-19 crisis with strong central government responses: In billions of dollars, with China ($26.4), European Union ($15.7), Mexico ($12.5), Germany ($4.6), Japan ($4.3), Italy ($2.6), France ($2.2), South Korea ($2.2), and Canada ($1.2). Continue reading
Education, Hospitals, Police – Comprise the Largest State and Local Government Employment Groups
Full-time state and local government payroll increased 3.4% to $79 billion, and part-time employees’ payroll totaled $6.8 billion. Continue reading
New Mercedes-Benz Strategy Aimed to Help Higher Profits
This follows the Q2 Daimler disaster. The COVID pandemic or the Grim Reaper saw a decline in demand for cars, vans, trucks and buses. Group total sales decreased by -34% to 541,800 cars and commercial vehicles (Q2 2019: 821,700). Revenue slipped significantly by -29% to €30.2 billion (Q2 2019: €42.7 billion). EBIT was minus -€1,682 million (Q2 2019: minus -€1,558 million). Adjusted EBIT was -€708 million (Q2 2019: plus €2,447 million). Continue reading
Porsche – First Virtual Annual Meeting Declares Risky €676 Million in Dividends. No Earnings Forecast Yet
The shareholders approved the proposed distribution of a dividend of €2.210 per preference share and €2.204 per ordinary share for the fiscal year 2019. The total distribution comes to around €676 million euro. It’s a risky move given the ongoing Covid pandemic that has infected global economies. Continue reading
Ford Pickup Truck Sales Best Q3 in 15 Years. Cars Dead
Ford’s overall pickup sales of combined F-Series and Ranger totaled 249,997 pickups. This was Ford’s best Q3 pickup sales since 2005, with combined sales up 4.0% over a year ago. F-Series Q3 retail sales were up 10.1% over a year ago and are back above pre-corona virus sales levels. Total F-Series sales of 221,647 for the quarter were up 3.5%. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed, autoinformed.com, ford motor, Jim Farley, Ken Zino
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Kansas City to Assemble All-Electric Ford E-Transit
It’s ironic that the transition to a carbon-free economy and the jobs it is now creating in the US auto industry comes in part because of the ousted Trump Administration’s anti-environmental policies that are at odds with a global trend toward healing the earth that is being reinforced by regulators. Ford spends more than $5 billion annually on engineering in America, which includes the development of the all-new, fully electric Transit, the F-150, and the all-new Mustang Mach-E. Continue reading →