Category Archives: financial results

U.S. New Car Transaction Prices Continue Slow Rise

Posted on 16 September 2013 by Ken Zino

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 →

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

Chrysler IPO Filing this Week

Posted on 16 September 2013 by Ken Zino

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 →

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

Ford Motor Company Credit Ratings Raised by S&P

Posted on 6 September 2013 by Ken Zino

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 →

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

Georgia Most Expensive State to Drive in, Oregon Cheapest

Posted on 21 August 2013 by Ken Zino

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 →

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

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

Posted on 20 August 2013 by Ken Zino

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 →

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

JPMorgan Chase Employees Charged With Financial Fraud

Posted on 14 August 2013 by Ken Zino

“Our financial system has been hurt in recent years not just by risky bets gone bad, but also, in some cases, by criminal wrongdoing,” opined Attorney General Holder. Critics maintain Holder has done little to prosecute financial fraud at the ratings agencies and on Wall Street that led to the collapse of the U.S. economy, cut American wealth in half, and created the highest rates of unemployment since the Great Depression that is still hurting the American middle class. Continue reading →

Posted in auto news, financial results, fools 'n frauds, litigation | Tagged , , , , , , | Leave a comment

GM UAW VEBA Warrants at $3.85 allow $42.31 Share Buy

Posted on 7 August 2013 by Ken Zino

The UAW Retiree Medical Benefits Trust (UAW VEBA) secondary public offering of up to 45,454,545 warrants to purchase GM common stock was priced at $3.85. They allow the purchase of one share at $42.31. The warrants expire 31 December 2015. Continue reading →

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

Volkswagen Group Euro-Bit. Q2 Profits Drop 11% to €2.85 Billion

Posted on 1 August 2013 by Ken Zino

The Volkswagen Group was bit by the Eurozone crisis as Q2 profits sank 11% in Q2 to €2.85 billion or ~$3.78 billion. Europe’s largest automaker by far, headquartered in Germany, Europe’s largest economy by far, has revised full-year estimates down to simply equal the €11.5 billion it reported for 2012. Even that might be a stretch given the European auto market, which is headed for its sixth straight year of declines and running at sales levels last seen two decades ago. Continue reading →

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

Fiat SpA Q2 Profit at $188 Million – all from Chrysler

Posted on 31 July 2013 by Ken Zino

Fiat SpA [F.MI] posted a Q2 profit of €142 million or ~$188 Million largely because of the contribution of Chrysler Group where it owns a 58.5% stake courtesy of a U.S. taxpayer financed bailout of the Detroit Three automaker. The northern Italian company would have lost €247 million without Chrysler Group because its European sales dropped 5% during the period. Q2 revenues increased 4% to €22 billion. Continue reading →

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

$507 Million Chrysler Q2 Profit. New Cherokee Sales on Hold!

Posted on 30 July 2013 by Ken Zino

However, the positive trend is threatened in the second half of the year by the admission by Sergio Marchionne – he had to since it’s material to results under SEC regulations – that the new Jeep Cherokee was not shipping as planned starting in June even though it is in production in Ohio due to an unspecified calibration problem on its 9-speed ZF supplied transmission. Continue reading →

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

Renault Profits Climb to €583 Million despite Eurozone Crisis

Posted on 26 July 2013 by Ken Zino

Renault posted a profit of €583 million in the first half of 2013 in the face of the Eurozone crisis. The unexpected positive increase of 15% in earnings compared to last year came as Group revenues of 20,441 million dropped – 0.9% compared to the first-half 2012. Automotive operational free cash flow was negative at -€31 million with an automotive net cash of €732 million at end of June 2013. Continue reading →

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

GM Earns $1.2 Billion in Q2 or 75 Cents a Share

Posted on 25 July 2013 by Ken Zino

With the exception of China where most vehicle buyers are new, GM brands continue to face strong competition. Even though GM continues to receive quality awards and strongly positive reviews on new products, and has once again become competitive in the leasing market, it is having a tough time stealing buyers from competitors. Part of this is due to its damaged reputation; part is the strength of facing products with strong customer loyally. Continue reading →

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

Ford Motor Q2 Profit at $2.6 Billion or 30 Cents a Share

Posted on 24 July 2013 by Ken Zino

Ford Motor Company [NYSE: F] reported Q2 2013 pre-tax profits of $2.6 billion today, or 45 cents per share. The good overall result, which had analysts gushing over an automotive operating margin of 6.4%, improved 1.5 percentage points from 2012 at $726 million, or 15 cents per share, higher compared with a year ago. Continue reading →

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

Ford to Pay 10-Cent Dividend to Shareholders

Posted on 11 July 2013 by Ken Zino

Ford Motor Company declared a Q3 dividend of $0.10 per share on the company’s outstanding family-controlled Class B and common stock. Continue reading →

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

Renault-Nissan Cut 2012 Costs by €2.69 billion

Posted on 5 July 2013 by Ken Zino

Only new savings – not cumulative ones – are taken into account every year. As a result, the Alliance that was established in 1999 when Nissan was facing bankruptcy, arguably now has the longest-lasting cross-cultural partnership in the auto industry. Paris-based Renault and Yokohama, Japan-based Nissan, which together sell one in 10 cars worldwide sold 8.1 million cars in nearly 200 countries in 2012. Continue reading →

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