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Category Archives: financial results
Porsche SE Profit For Fiscal Year 2020 Forecast at €2.6 Billion
The group result after tax of Porsche SE is influenced significantly by its equity result from the capital stake in Volkswagen AG of currently about 31.4%, and thus by the group result after tax of Volkswagen AG. Continue reading
Pandemic Negative Impact on Global Auto Industry Is Permanent. Debate is over How Bad and Who Gets Hurt
LMC says globally the Pandemic recovery is a K-shaped curve. There are winners and losers. Continue reading
General Motors Posts 2020 Earnings of $6.4 Billion. Q4 at $2.8B
GM Financial reported record full-year EBT-adjusted of $2.7 billion. GM North America posted full-year EBIT-adjusted of $9.1 billion, and EBIT-adjusted margin of 9.4%. GM International lost money at a full-year EBIT-adjusted of $(0.5) billion with China Equity Income of $0.5 billion. Cruise struggled with a full-year EBIT-adjusted loss of $(0.9) billion. Continue reading
Herd Immunity? Toyota Motor Reports $9.87 Billion Q3 FY 2021 Profit. Ups Forecast by +54%
Toyota Motor, the world’s largest automaker posted a $9.87 billion Q3 FY Profit compared to $9.45b during the same period one year ago, in what appears to be Toyota herd immunity from the Covid-19 virus and variants that are killing other automakers. As a result of the strong showing upholding Akio Toyota’s vow to remain profitable despite the ongoing Global Pandemic, Toyota increase its yearly forecast by 54%. Toyota now predicts a record operating profit $19.13 billion (¥2 trillion), surpassing an earlier projection of ¥1.3 trillion. Continue reading
Nissan Losses ¥37.8 Billion in Q3. Alliance Still Shaky
As for the unstable Alliance post-Ghosn, “Nissan’s results during the Q3 of fiscal year 2020/2021 (October 1st to December 31st 2020), after IFRS restatements, will have a negative contribution to Renault’s Q4 2020 net income estimated at – €123 million,” Renault said in a separate release. Continue reading
Posted in economy, financial results, results
Tagged auto industry commentary, autoinformed, autoinformed.com, COVID-19, Ken Zino, Nissan Alliance
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Ford Motor 2020 Loss $1.3 Billion. Microchip Shortage Looms
Chasing General Motors, Ford said it would increase its planned investments in electric and autonomous vehicles to more than $22 billion and $7 billion in turn through 2025. GM caught the industry by surprise when it said it would have 30 new EVs globally during roughly that period. It was the latest Ford attempt to appease the capital markets which remain skeptical about the lackluster performance of the Dearborn based automaker. Continue reading
Mazda Increases Forecast for Fiscal Year Ending March 31
In a victory of sorts over COVID19, Mazda Motor Corporation today revised upwards its consolidated financial forecast for the Fiscal Year Ending 31 March 2021. Nevertheless Mazda is still losing money and is in a perilous, company-threatening position with huge soaring debt and ongoing breathtaking operating losses. Continue reading
Daimler to Spin-Off Daimler Truck into Separate Company
Actually, current Daimler shareholders will be Mercedes-Benz holders since the Daimler name will be recast as Mercedes-Benz at “the appropriate time.” Both companies, whatever they are called, are in mobility industries that are facing disruptive technological and structural changes that threaten survival. Continue reading
Penske Automotive Group Increases Dividend
With this increase, the annualized dividend is $1.72 per share and represents a yield of 2.7%, the highest in our peer group. Our business and cash flow remain strong despite the Covid-19 pandemic, as the actions we took to mitigate its impact continue to provide operational benefits,” said President Robert K. Kurnick. Continue reading
BMW Says It’s Solvent, Marginally Profitable During 2020
The positive operating result of the Automotive segment in the fourth quarter is partially due to “better than expected re-marketing results in the pre-owned car market.” This of course has a positive effect in the Financial Services segment, leading to a Return on Equity for the segment which is only slightly down on prior year as opposed to a moderate decline as indicated in the current outlook. However, the EBIT margin in the Automotive Segment for the full year 2020 is at the “upper end of the 0 – 3% corridor.” The Group EBT remains within the outlook and in line with market expectations. Continue reading
Stellantis – a Mega Merger of Auto Companies Names Execs
Today Stellantis officially announced its Executive Team along with the 9 dedicated committees* covering enterprise-wide performance and strategy for running the merged FCA and PSA companies. It is the latest merger in the capital-destroying automotive industry that seeks to pursue … Continue reading
Posted in economy, financial results, milestones, news analysis
Tagged auto industry commentary, autoinformed, autoinformed.com, carlos tavares, fca, Ken Zino, PSA
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Porsche Q3 in Black at €437 Million Because of VW
Porsche SE’s positive result after tax basically comes from the profit from an investment accounted for at equity in Volkswagen AG of €505 million (prior-year period: €3.58 billion. Porsche Se is the largest holder of VW common stock). The business of the Volkswagen Group was affected by the Covid-19 pandemic in the first nine months of 2020 but made a recovery in the third quarter. Nonetheless both groups remain in difficult if not precarious financial positions. Continue reading
Posted in economy, financial results
Tagged auto industry commentary, autoinformed, autoinformed.com, Ken Zino, Porsche SE
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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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Groupe Renault Posts 2020 Loss of -€8.5 Billion
The disastrous results take into account an increase of charges related to restructuring costs and impairments of almost a €1 billion. Net income of -€8,046 million (-€660 million in H2) compared to €19 million in 2019. However, a negative Automotive operational free cash flow of -€4,551 million is distressing even with a positive contribution of €1,824 million in H2. Continue reading →