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Category Archives: financial results
Nissan Posts First Annual Profit in Three Years.
“It is clear that our industry and therefore our performance was impacted by intensifying headwinds in the last fiscal year,” said chief operating officer Ashwani Gupta, warning that conditions remain uncertain to an unprecedented degree. Continue reading
Posted in financial results
Tagged Ashwani Gupta, auto industry commentary, autoinformed.com, Ken Zino, Nissan Motor
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Ford India Shelves EV Manufacturing Export Plans
In an official response as Ford’s Annual Meeting was underway in the US, Ford India’s spokesperson confirmed and said, “After careful review, we have decided to no longer pursue EV manufacturing for exports from any Indian plant.” At the Annual Meeting Bill Ford and Jim Farley fielded tough questions about its EV strategy, splitting the company into two arms and ongoing supply chain and perennial guilty problems. Ford shares are down ~40% this year. (AutoInformed: Ford Motor Blues – Q1 Loss of $3.1 Billion; Ford Motor Structure Threatens Viability. Vast Reorg Coming) Continue reading
BMW Group Post Q1 Earnings of €10.185 Billion
The JV has been fully consolidated since 11 February 2022, following the extension of the joint-venture agreement and the increase in shares held by BMW AG from 50% to 75%. Since this date, around 23,000 employees in China have been added to the BMW Group workforce number. The subsidiary contributed €3.287 billion to revenues from 11 February 2022 onwards. Continue reading
Stellantis Posts Q1 2022 Net Increase of 12% at €41.5B
The positive performance followed an ordinary dividend of €1.04 per share that approved at annual meeting and paid to shareholders in April 2022. Continue reading
M-B Group Runs Self-Congratulatory First Annual Meeting
Well, in the face of the ongoing pandemic and supply bottlenecks, as well as German funding of the Russian war on Ukrainian men, women, children and babies by buying Russian energy products, the financial year 2021 at Mercedes-Benz Cars, Mercedes-Benz Vans and Mercedes-Benz Mobility was successful. A dividend of €5.00 was proposed with €4.30 new reference point for dividend payments. Continue reading
Ford Motor Blues – Q1 Loss of $3.1 Billion
As with GM yesterday, Ford was battered by supply chain disruptions mostly beyond its control, as well as self-created costs from the valuation of its investment in Rivian with a mark-to-market loss of $5.4 billion on the company’s investment down from $10.6 billion at the end of 2021. Strong customer demand from the ongoing Biden Administration recovery wasn’t helped by Ford’s popular vehicles because of persistent supply chain issues that Ford was unable to adjust for. Continue reading
Posted in financial results
Tagged auto industry commentary, autoinformed.com, ford credit, Jim Farley, John Lawler, Ken Zino
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Mercedes-Benz to Increase Focus as a Luxury Car Company
Mercedes-Benz will change its product portfolio, allocating more than 75% of its investments to develop products for the most profitable market segments. As part of this strategy designed to please the capital markets, Mercedes-Benz aims to increase sales share of its Top-End vehicles by around 60% by 2026 compared to 2019. Like many auto companies it intends to achieve “higher quality growth and a further significant increase in profitability and resilience, striving for an operating margin target of approximately 14% by mid of the decade in favorable market conditions.” Continue reading →