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Category Archives: financial results
Renault Group: Sales Drop, Revenues Even, Margins, Profits Up
“These first half results are a proof of this: despite all the headwinds related to the stop of the activity in Russia, the semiconductor crisis and cost inflation, the Group continues to improve its operating performance and is beginning to benefit from the success of new launches,” Renault Group said. Continue reading
Stellantis: Record First Half 2022 at €8.0 Billion Net Profit
Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA), the mega merger of FCA and Peugeot, posted record profitability during the first half or 2020 because of increasing sales of low emission vehicles (LEV), which include battery electric (BEV), plug-in hybrid (PHEV) and fuel cell electric vehicles. Stellantis said it ranked second in the EU30 market for BEV and LEV sales) and third in the U.S. market for LEV sales. Stellantis’ global BEV sales were up nearly 50% y-o-y to 136k units in H1. The Company now offers 20 BEVs, with an additional 28 BEVs to be launched through 2024. Continue reading
Ford Motor Posts Good Earnings But Weak Net Income
However, Ford’s net income was $667 million, a margin of 1.7%, which included a mark-to-market loss of, gulp, $2.4 billion on Ford’s stake in Rivian. Ford is also in the process of slashing costs under its latest restructuring plan, but refused to comment on pending job cuts, which are being reported as around 8000, only to confirm that there are too many people employed at Ford. Continue reading
Posted in financial results, news analysis
Tagged auto industry commentary, autoinformed.com, ford earnings, Jim Farley, Ken Zino
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Hot, Fast Company: Penske Automotive Increases Dividend 6%
Penske Automotive Group, Inc. (NYSE: PAG) – an international transportation services company, a significant force among premier auto and commercial truck retailers, and a successful racing organization – today announced that its Board of Directors has increased the dividend by $0.03 per share. Continue reading
US International Trade Deficit Decreased in May 2022
The May decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.9 billion to $105.0 billion and a decrease in the services surplus of $1.7 billion to $19.4 billion. The average goods and services deficit decreased $0.9 billion to $93.3 billion for the three months ending in May. Continue reading
Automaker Profits Post-Covid Hiding Supplier Weakness
The continued trend delivers a “complex backdrop for an industry committing $526 billion through 2026,” AlixPartners’ analysis finds, to fund the shift to battery-electric vehicles (BEVs). The transition, now taking place amid a weakening economic outlook, could cost automakers and suppliers $70 billion if not effectively managed, the analysis finds. There are several implications for consumers here – not all of them benign. Continue reading
Toyota Motor FY Q1 Profit Drop Spooks Market
Aside from the well-known semiconductor problems, Covid lockdowns in Shanghai and other parts of Asia, as well as flooding in South Africa hurt the results. Toyota shares fell -3.45% after it released its earnings report, which showed a 42% year-over-year drop in operating profit, but recovered slightly to close down -2.99%. The Nikkei average share closed up 0.69% at ¥27,932.20 and even topped the ¥28,000 mark. Continue reading →