Category Archives: financial results

GM Q1 Earnings Drop 14% to $0.9 Billion. North America Weak. Europe Weaker. Cash Flow -$1.3 Billion

Posted on 2 May 2013 by Ken Zino

General Motors Company (NYSE: GM) today announced first quarter net income of $0.9 billion, or $0.58 per fully diluted GM share, down from $1 billion in the prior year quarter. The results include a net loss from special items that reduced net income by $0.2 billion, or $0.09 per fully diluted share. Continue reading →

Posted in auto news, financial results | Tagged , , , | Leave a comment

Volkswagen Group Q1 Profit Drops as Europe Mars Results

Posted on 30 April 2013 by Ken Zino

Volkswagen Group profits decreased to €2.3 billion in Q1, down from a record €3.2 billion a year earlier. Global deliveries increased by 4.8% to 2.3 million vehicles worldwide as the Group’s share of the passenger car market rose year-on-year to 12.6% from 12.2%. Continue reading →

Posted in auto news, financial results | Tagged , , , , | Leave a comment

Fiat Group Posts Slim €31 Million Profit in Q1

Posted on 29 April 2013 by Ken Zino

The Fiat Group in Turin today posted Q1 profits of €31 million or about $40 million with revenues of €20 billion from worldwide shipments of more than 1 million vehicles. Continue reading →

Posted in auto news, financial results | Tagged , , , , | Leave a comment

Chrysler Group Q1 Profits Drop to $166 million

Posted on 29 April 2013 by Ken Zino

Chrysler Group today reported its 2013 Q1 results of $166 million in profits on revenue of $15.4 billion, off 6% from $16.4 billion one year ago. Continue reading →

Posted in financial results | Tagged , , , , , , | Leave a comment

GM files SEC Paperwork to Ease Share Sales

Posted on 26 April 2013 by Ken Zino

GM said in a statement that is not currently aware of any specific plans regarding an offering by any selling shareholders. When selling shareholders make an offering during the next three years, the terms would be established at the time of offering and described in a prospectus supplement filed with the SEC. GM will not receive any of the proceeds of sales of common stock or warrants by the selling shareholders in the shelf registration statement. Continue reading →

Posted in auto news, financial results | Tagged , , , , | Leave a comment

Daimler Group Q1 Earnings Drop Based on EU Crisis

Posted on 26 April 2013 by Ken Zino

Daimler AG [DAI] posted a significant drop in Q1 earnings largely because of the ongoing economic slowdown in Western Europe where sales are running at a 20-year low. The Q1 EBIT of €917 million was less than half of Q1 … Continue reading →

Posted in auto news, financial results | Tagged , , , , , | Leave a comment

Ford Motor Posts Q1 Profit of $2.1 Billion

Posted on 24 April 2013 by Ken Zino

The Ford Motor profit of 41 cents per share was $147 million lower than a year ago as results in Asia were weak because of ongoing expansion; weaker still in South America because of currency problems in Venezuela and Argentina, as well as competition, and frankly disastrous in Europe where Ford has not been able to stem a flood tide of red ink for decades. Continue reading →

Posted in auto news, financial results | Tagged , , , , | Leave a comment

Ally Financial Declares Dividends on Preferred Stock

Posted on 22 April 2013 by Ken Zino

The Ally Financial board of directors has declared quarterly dividend payments for outstanding preferred stock payable on 15 May 2013. Ally’s Fixed Rate Cumulative Mandatory Convertible Preferred Stock, Series F-2, will pay the U.S. Department of the Treasury $134 million, or $1.125 per share. Continue reading →

Posted in auto news, financial results, results | Tagged , , , , | Leave a comment

Ford Motor to Pay Q2 Dividend of $0.10 Per Share

Posted on 12 April 2013 by Ken Zino

Ford Motor Company today declared Q2 dividend of $0.10 per share on the company’s outstanding preferred Class B and common stock. This is the same dividend paid in the first quarter of 2013, and twice the amount paid in Q2 last year. The second quarter dividend is payable on June 3, 2013 to shareholders of record on May 3, 2013. Continue reading →

Posted in auto news, financial results, news analysis | Tagged , , , , , | Leave a comment

Daimler AG Sets Dividend at €2.20 a Share

Posted on 10 April 2013 by Ken Zino

At the Annual Shareholders’ Meeting of Daimler AG in Berlin on Wednesday, shareholders approved a dividend for the year 2012 of €2.20 per share, the same as in 2011 for a total dividend payout of €2.35 bllion. Continue reading →

Posted in financial results | Tagged , , , , , | Leave a comment

General Motors Declares Dividend on Series B Stock

Posted on 10 April 2013 by Ken Zino

The dividend on the hybrid stock – a mixture of stock and debt – is cumulative. GM has not paid a dividend on its common stock since 2008 before it entered bankruptcy. The total amount of the dividend is $59.4 million. Continue reading →

Posted in auto news, financial results | Tagged , , , , , | Leave a comment

General Motors to Invest €4 Billion in Loss-Making Opel

Posted on 10 April 2013 by Ken Zino

GM has lost more than $18 billion in Europe since 1999, including $1.8 billion in 2012. GM also wrote down more than $5 billion in assets in the Eurozone, and it wrote off more than half the value of its PSA Citroën stock (-$220 million) acquired latest year in what GM said at the time was a collaboration that would, eventually, save billions. Nothing was really new in today’s speeches. Continue reading →

Posted in auto news, financial results, news analysis | Tagged , , , , , , | Leave a comment

U.S. Trade Deficit with Korea Highest on Record under FTA

Posted on 3 April 2013 by Ken Zino

The U.S. trade deficit with South Korea reached its highest level in history just ten months into the controversial trade agreement, according to the latest data released by the U.S. International Trade Commission. During January the deficit with South Korea was at -$2.4 billion — the largest monthly deficit with Korea on record. Continue reading →

Posted in auto news, economy, financial results, news, news analysis | Tagged , , , , , , , , | Leave a comment

BMW Group Posts Best Year in History During 2012

Posted on 18 March 2013 by Ken Zino

The BMW Group increased revenues during 2012 by 11.7% to €76.8 billion (~$99.7 billion) based on sales of 1,845,186 of BMW, Mini and Rolls-Royce brand vehicles delivered to customers worldwide, making it the largest maker of luxury automobiles. The Group also sold more than 117,000 motorcycles. Continue reading →

Posted in auto news, financial results, results, sales | Tagged , , , , | Leave a comment

Volkswagen Group Posts Record Profit of €11.5 Billion in 2012

Posted on 16 March 2013 by Ken Zino

Volkswagen Group’s sales revenue increased by 20.9% to €192.7 billion ($252 billion) in fiscal year 2012 a sizable gain from €159.3 billion in 2011. Operating profit rose to a record €11.5 billion, but this was only a slight increase from €11.3 billion the year before. Continue reading →

Posted in auto news, financial results, news analysis | Tagged , , , , , , , | Leave a comment