Category Archives: financial results

Toyota Motor Production 2.6 Million in Japanese Q4.

Posted on 24 April 2014 by Ken Zino

Toyota Motor posted strong results in its latest quarter with the fifth consecutive year of offshore production increases – a record high – with an ongoing and growing manufacturing presence in North America, Latin America, Europe, Asia and Oceania. Continue reading →

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GM Files $750 Million Q1 Earnings Charge with SEC

Posted on 1 April 2014 by Ken Zino

The three-quarters of a billion dollar expense to stockholders includes yesterday’s safety recall of electric power steering assist affecting approximately 1.3 million vehicles and other safety recalls announced in the three months ending 31 March 2014. Continue reading →

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Volkswagen Group Sets Third Straight Record Profit in 2013

Posted on 24 February 2014 by Ken Zino

A combination of new products, technology, acquisitions – Porsche, Ducati, and MAN – and plant expansions, especially in China, continues to give credence to VW’s announced intention to be the world’s largest automaker by 2018. It is now in third place behind Toyota and General Motors, so the Big Three in the business are from three different continents. Continue reading →

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Tesla Loses Money Again During 2013. Stock Market Bullish

Posted on 21 February 2014 by Ken Zino

The darling of automotive stock speculators electric vehicle maker Tesla posted a yearly loss of -$74 million on revenue of more than $2 billion during 2013, compared with a -$396.2 million loss on $413.3 million in sales in 2012. The stock is trading at record levels of above $200 per share given the revenue increase, and with the company promising to increase it yet again during 2014. Continue reading →

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Chrysler Group Borrows $5 Billion to Pay off UAW VEBA Debt

Posted on 14 February 2014 by Ken Zino

Before the bankruptcy, the UAW had previously – and reluctantly – accepted the notes to cover the health care costs of its retired members. This was a classic, many would say infamous, example of financial engineering under the Wall-Street-owned Bush Administration that removed union health care costs from the balance sheets of Chrysler, Ford and General Motors with a slight of hand trick. Continue reading →

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Ford Motor Earns $1.3 Billion in Q4, $8.6 Billion during 2013

Posted on 28 January 2014 by Ken Zino

Ford Motor Company [NYSE: F] today reported that Q4 pre-tax profit was $1.3 billion, a decrease of $402 million compared with 2012. However, Q4 earnings per share at 31 cents were the same as a year ago. Ford has posted … Continue reading →

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Fiat Buys Out the UAW Equity in Chrysler Group

Posted on 21 January 2014 by Ken Zino

Fiat S.p.A. through its wholly owned subsidiary, Fiat North America, today completed its previously announced acquisition of all of the UAW VEBA Trust’s equity in the Chrysler Group. This means that Chrysler Group is now a wholly owned subsidiary of Italian Fiat with considerable help from U.S. taxpayers who financed the 2009 reorganization of the bankrupt company. Continue reading →

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GM Declares 30 Cent Quarterly Stock Dividend

Posted on 14 January 2014 by Ken Zino

General Motors Company Board of Directors today declared a quarterly dividend of 30 cents per share on its common stock. The dividend is payable 28 March 2014 to all common stockholders of record as of 18 March 2014. The last time GM paid a dividend on common was in the pre-bankruptcy days of 2008. Continue reading →

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Ford Cuts 2014 Earnings Outlook. Warranty Costs Hurt 2013

Posted on 18 December 2013 by Ken Zino

In a sense, 2014 is an investment year that will hurt returns short term, but is necessary to keep Ford competitive going forward. Overall, FMC will launch 23 new vehicles globally, with 16 launches in North America, it’s only solidly profitable region. Since these North American freshenings will cover a significant percentage of the region’s volume, Ford said that it now expects sales next year to be lower, even as the region grows by roughly one million units or more in total. Continue reading →

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Chevy’s European Exit Cost to GM More than $1 Billion

Posted on 16 December 2013 by Ken Zino

While the dropping of Chevrolet as a mainstream brand in Eastern and Western Europe by 2016 is a good strategic move for GM, the retreat will be costly to shareholders. GM estimates that it will take special charges of $700 million to $1 billion primarily in Q4 of 2013 and continuing through the first half of 2014. Continue reading →

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GM sells all of its Stock in Ally, formerly GMAC

Posted on 13 December 2013 by Ken Zino

GM’s plan is to put back in place a GMAC-like operation, dubbed GM Financial, with many of the companies coming from Ally, which was GMAC and went bankrupt at the onset of the Great Recession because of its reckless home lending practices. A controversial U.S. taxpayer-funded bailout ensued, one that has not been paid back. Continue reading →

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GM Sells Peugeot Shares. Claims Strategic Alliance Lives

Posted on 12 December 2013 by Ken Zino

As GM was issuing its statement, PSA shares in Paris were sinking after the automaker said more write-downs are coming with perhaps the need to raise more capital. GM has already written of part of its investment in PSA and it is clearly cutting its losses, with another write-down likely to follow in its Q4 results. Peugeot is trading at $15 a share, down from $30 in 2012. Continue reading →

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Treasury No Longer Owns GM Common Stock

Posted on 9 December 2013 by Ken Zino

Treasury in a statement said it recouped a total of $39 billion from the original GM investment. Taxpayers in 2009 gave GM $49.5 billion in loans ($50 billion including loans for the Supplier and Warranty Programs) in exchange for $2.1 billion in preferred stock and a 60.8% equity stake in the reorganized company. Continue reading →

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Ally Financial Pays Treasury $5.9 Billion, 70% of Taxpayer Debt

Posted on 25 November 2013 by Ken Zino

As a result, Ally has repaid the U.S. taxpayers $12.3 billion of the $17.2 billion investment that was made in the company when its reckless lending practices in the home mortgage market forced it into bankruptcy. Continue reading →

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Treasury Recoups another $1.2 Billion from GM

Posted on 13 November 2013 by Ken Zino

The U.S. Treasury during October continued its sale of GM common stock receiving net proceeds of ~$1.2 billion without saying how much it received per share. Continue reading →

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