Category Archives: financial results

Toyota Motor Posts Huge Gains in Income and Profits

Toyota Motor Corporation today said it had net income of ¥1 trillion for the six-month period ending 30 September 2013. The huge increase from ¥548.2 billion in the same period the year earlier came with flat sales but TMC, the largest automaker in Japan and the world, benefited enormously from the manipulation of the yen by the Japanese government to keep it artificially weak. Continue reading

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Peugeot Q3 Sales, Revenues Down. GM JV Scaled Back

The Peugeot Group this morning in Paris posted Q3 revenues of €12.1 billion, down -3.7%. Automotive revenues were €8 billion, down -5.8%. Continue reading

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Ford Motor Posts Q3 Profits of $2.6 Billion but Income Off

Ford Motor Company [NYSE: F] reported a Q3 profit of $2.6 billion based largely on sales and financing in North America with some contributions from other regions. Continue reading

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Financial Protection Bureau Auto Loan Regulation Anti-Consumer Says NADA

A proposed regulation stipulating flat fees in auto lending will actually end up hurting consumers because franchised car dealers will not be able to cut rates, according to the National Automobile Dealers Association. Continue reading

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GM Declares Dividend on Series B Preferred Stock

General Motors (NYSE: GM) will pay a quarterly dividend of $0.59375 per share on its Series B mandatory convertible junior preferred stock on 2 December 2013 to Series B holders of record as of 15 November. Continue reading

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GM Financial Buys Ally Assets in Brazil

The latest move continues GM’s plan to put back in place a GMAC-like operation, 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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Treasury Selling More GM Common Stock

The U.S. Department of the Treasury is continuing its sales of GM common stock starting today by launching a third “pre-defined written trading plan.” Terms were not disclosed. Continue reading

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GM Prices $4.5 Billion of Bonds to Buy Back VEBA Stock

General Motors Company announced today the pricing of three series of bonds that it will sell and use the $4.5 billion in proceeds to buy back stock from the UAW Retiree Medical Benefits Trust. Continue reading

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GM to Buy Back UAW Held Stock. Dividends to Follow?

The VEBA currently holds 260 million shares of Preferred Stock, and Canada GEN Investment Corporation holds another 16 million shares. Until the ownership of these shares transfer back to GM or other independent buyers, the slur “Government Motors” still applies since the shares where part of a controversial but effective bankruptcy reorganization that Canadian and U.S.> taxpayers subsidized in 2009. Continue reading

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U.S. Trade Deficit Disaster Continues. Auto Industry Hit Hard

The United States’ international trade deficit in goods and services increased to $39.1 billion in July from $34.5 billion in June as exports decreased and imports increased. Imports increased to $228.6 billion in July from $225.1 billion in June. Goods were $191.3 billion in July, up from $187.9 billion in June. Services were $37.3 billion in July, up from $37.2 billion in June. Continue reading

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U.S. New Car Transaction Prices Continue Slow Rise

The average transaction price for new light vehicles in the United States was $31,657 in August 2013, an increase of $221 or +0.7% year-over-year. Continue reading

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Chrysler IPO Filing this Week

The UAW says the stock is worth $10.3 billion; Fiat says it is worth $4.2 billion. Fiat, of course, saved Chrysler from oblivion in 2009 as part of a controversial U.S. Treasury financed bankruptcy proceeding that essentially handed over Chrysler to Fiat for Fiat’s promise to save UAW jobs and reinvest in the company, but no cash. Continue reading

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Ford Motor Company Credit Ratings Raised by S&P

Standard & Poor’s Ratings Services today raised its credit ratings on Ford Motor Company and Ford Motor Credit to an investment grade of ‘BBB-‘ from ‘BB+’, and revised the outlook on both companies to stable from positive. Continue reading

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Georgia Most Expensive State to Drive in, Oregon Cheapest

California ($3,966), Wyoming ($3,938), Rhode Island ($3,913) and Nevada ($3,886) round out the five most expensive states. Alaska ($2,227), South Dakota ($2,343), Montana ($2,660) and Indiana ($2,698) join Oregon among the five cheapest states. Continue reading

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Ally Closer to IPO as it Plans to Buy Back Treasury Stock

If several complicated agreements and transactions go as planned, U.S. taxpayers will recover $12.1 billion or more than two-thirds of the bailout they subsidized. Ally has currently paid the U.S. Treasury $6.2 billion. Continue reading

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