Category Archives: financial results

GM to Up Deliveries by Dropping Stop-Start on Pickups, SUVs

Posted on 8 June 2021 by Ken Zino

The bad news is GM’s gas mileage increasing stop-start system is being dropped on some models of the 2021 Chevrolet Tahoe and Suburban, GMC Yukon and Yukon XL and Cadillac Escalade and Escalade ESV SUVs. Stop-start will also be dropped for the moment on certain light-duty Chevy Silverado and GMC Sierra pickups. The semiconductor or microchip shortage is expected to last through 2021, and possibly until sometime in 2022. Continue reading →

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Honda Motor Posts FY 2021 Operating Profit of ¥660.2 Billion

Posted on 14 May 2021 by Ken Zino

Consolidated profit for the year attributable to owners of the parent company  faced a year-on-year increase that amounted to 657.4 billion yen, due also to an increase in the share of profit of investments accounted for using the equity method. Continue reading →

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Mazda FY 2021 Financial Results – Net Income -81%

Posted on 14 May 2021 by Ken Zino

Mazda’s global sales volume from April 2020 through March 2021 decreased 9.3% year-on-year because of decreased sales in Europe and other regions. China and the US posted ~7% gains. Continue reading →

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Equivalent Gas Tax or Fee on EVs to Offset Lost Revenue?

Posted on 14 May 2021 by Ken Zino

CBO said that if Congress were to levy an annual fee on EVs in an amount that is approximately proportionate with the amount paid in gasoline tax? Taking as a starting point an average driver of a light duty passenger vehicle with a gasoline engine, how much revenue could be raised during the next five years? Moreover  what percent of the anticipated shortfall in the Highway Trust Fund would that be? Continue reading →

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Toyota FY2021- Net Profit Surges 10% on $20.6B in Revenue

Posted on 12 May 2021 by Ken Zino

In particular, sales of electrified vehicles of 2,155,000 units or 112.3% of the previous fiscal year presents a serious challenge to would be competitors who are late to a game that increasingly is the only game in town or will be given the trend of current regulations. Continue reading →

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Nissan ‘Contributes’ -€73 million to Q1 2021 Renault Earnings

Posted on 11 May 2021 by Ken Zino

Nissan’s results, published in Japanese accounting standards, for the fourth quarter of fiscal year 2020/2021 (January 1st to March 31st, 2021), after IFRS restatements, will have a negative contribution to Renault’s first quarter 2021 net income estimated at – €73 million based on an average exchange rate of 127.7 yen/euro for the period under review. Continue reading →

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Nissan Reports Weak Q4, Full Year 2020 Financial Results

Posted on 11 May 2021 by Ken Zino

Free cash flow for the automotive business was a negative 391.0 billion yen. Nissan claims it has sufficient liquidity to steer through a challenging business environment. At year-end, cash and cash equivalents for the automotive business totaled 1.9 trillion yen. Automotive net cash was 636.0 billion yen. In addition, the company continues to have access to approximately 2.2 trillion yen in unused committed credit facilities. (Nissan Establishes Carbon Neutral Goal for 2050) Continue reading →

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BMW Group Q1 – Record Deliveries of 637,000, up 33%

Posted on 7 May 2021 by Ken Zino

Improved revenues and earnings of €4.26 per share were driven by a combination of higher sales volume figures across all regions of the world, particularly in China, and higher selling prices. Helpful effects also came from the sharp rise in prices of used vehicles, causing revenues from the sale of previously leased vehicles to rise, above all in the USA where the Biden Administration economy is soaring. Group revenues grew by 15.2% to €26,778 million (2020: €23,252 million; +18.9% adjusted for currency factors). Continue reading →

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Stellantis First Ever Q1 Shows Revenue, Sales Increases

Posted on 6 May 2021 by Ken Zino

The combined companies shipped 1,477,000 units. The market launch of all-new Opel Mokka began in March 2021 to European consumers, representing a return to the market after being discontinued in 2019. All-new Grand Wagoneer/Wagoneer and next generation Jeep Grand Cherokee production launches remain on track for late Q2 2021 and Q3 2021, respectively. All-new Grand Cherokee L (3-row) production commenced, with commercial launch in late Q2 2021. Continue reading →

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Ford Posts Q1 Income of $3.3B. Semiconductors Still Difficult

Posted on 29 April 2021 by Ken Zino

The company anticipates full-year 2021 adjusted EBIT to be between $5.5 billion and $6.5 billion, including an adverse effect of about $2.5 billion from the semiconductor supply issue. Adjusted free cash flow for the full year is projected to be $500 million to $1.5 billion, a large range reflecting the uncertainty in a global economy still reeling from the Covid pandemic. Continue reading →

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Penske Automotive Posts All Time Record Q1 Results

Posted on 28 April 2021 by Ken Zino

Penske – as a diversified international transportation services company – is a good leading indicator of the overall health of the transportation sectors with the caveat that it is heavily biased toward luxury brands. Continue reading →

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Daimler Raises Financial Targets After Strong Q1 Results

Posted on 24 April 2021 by Ken Zino

The good operating performance in the first-quarter translated into an EBIT surge to €5,748 million (Q1 2020: €617 million). Adjusted EBIT, reflecting the underlying business, also multiplied to €4,970 million (Q1 2020: €719 million). China, the world’s largest vehicle market, was a key component in the comeback after it successfully fought off the Covid pandemic that Europe and the Americas are still struggling with. Continue reading →

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Groupe Renault Posts Flat Results for Q1 2021

Posted on 22 April 2021 by Ken Zino

Well, during Q1 2021, Group revenues were  €10,015 million (-1.1%). At constant exchange rates1, Group revenues would have increased by 4.4%. Automotive excluding AVTOVAZ revenues amounted to €8,566 million, down -0.3%. In addition to the change in inventories, which explains most of the negative impact of the volume (-6.5 points), revenues were adversely affected by a negative currency effect of -4.3 points. Continue reading →

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Q1 Financial Results of BMW Exceed Market Expectations

Posted on 20 April 2021 by Ken Zino

Part of the reason, of course, was extremely low expectations for the Munich-based auto conglomerate because of the ongoing Covid 19 pandemic. Continue reading →

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Stellantis 2021 Annual Meeting Yeas €1 Billion Cash Payout

Posted on 15 April 2021 by Ken Zino

The distribution will be paid out of the capital repayment reserve that was created by a reduction of the nominal value of the Stellantis common shares in connection with the Faurecia distribution, previously approved by the Extraordinary General Meeting of Shareholders. Continue reading →

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