Category Archives: financial results

Ford Motor Nets $2.6 Billion in Q1 on $33 Billion Revenue

Ford Motor Company (NYSE: F) today reported first quarter 2011 net income of $2.6 billion, or 61 cents per share, an increase of $466 million, or 11 cents per share, from first quarter 2010 as the global auto industry continued … Continue reading

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GM Sells its Stake in Delphi Automotive for $3.8 Billion

General Motors Company (NYSE: GM) late today announced the sale of its Class A Membership Interest in Delphi Automotive LLP (Delphi) back to Delphi for $3.8 billion. Continue reading

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Japan Earthquake Causes Loss of 320,000 Vehicles. More Plant Shutdowns on Way and the Worst is yet to Come

“The Japan disaster has had a profound effect on the automotive industry,” said IHS Automotive Director Michael Robinet, noting that 13% of the global automotive industry is shut down and companies have lost 320,000 units of production since the earthquake, tsunami and power disruptions. Continue reading

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General Motors Sells All of Its Ally Preferred for $1 Billion

General Motors Company (NYSE: GM) has sold of its preferred shares of Ally Financial Inc. for a total of $1.0 billion. Ally, formerly known as GMAC, is GM’s and Chryslers largest provider of automotive financing. Continue reading

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BMW Says Record Sales and Earnings Coming in 2011

The BMW Group during 2011 will improve on record earnings set in 2010 and increase them again in 2012 claimed Norbert Reithofer, Chairman of the Board of Management of BMW AG on Tuesday in Munich.

It was the latest sign that the auto industry is coming back, especially in high margin luxury vehicle segments. The BMW prediction follows records the world’s larger luxury make set in 2010. Continue reading

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Another GM Top Management Change as CFO Liddell Resigns

It appears that the outside financial gunslingers brought in by Treasury – notably Ed Whitaker retired from ATT and Chris Liddell from Microsoft had short term personal goals as to how long they would run the historic and now recovering auto giant. This begs the question as to how long the current CEO Dan Akerson, who came from Wall Street, will stick around, and puts a stop to speculation that Liddell, 52, was the obvious heir apparent for Akerson’s job. Continue reading

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BMW on Record 2010 Earnings Proposes Record Dividends

As a result of the strong comeback the BMW Board of Management and the Supervisory Board will propose that the dividend be increased to €1.30 (2009: 0.30) per share of common stock and €1.32 (2009 € 0.32) per share of preferred stock at the annual meeting in May.

Both proposed dividends are record highs. The odds that shareholders will vote down such increases are close to nil. Continue reading

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U.S. Treasury to Sell $2.7 Billion of Ally Preferred Securities

As part of this corporate welfare program, Treasury invested a total of $17.2 billion in a failing Ally. This was the result of what critics called reckless lending practices in the home mortgage markets, which caused huge Ally losses when the housing bubble burst in 2009. Continue reading

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General Motors Posts 2010 Net of $4.7B on $135.6B of Income

General Motors Company (NYSE: GM) today announced its calendar year 2010 results of $4.7 billion of net income per share of common stock for its first full year of operations after it emerged from bankruptcy as a U.S. and Canadian taxpayer owned automaker. Continue reading

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Nissan Posts Strong Q3. Ups Fiscal Year Forecast to ¥535 B

Nissan Motor Co., Ltd. reported consolidated net revenues of ¥6.4 trillion, 19.4% higher than the year-ago level. Operating profit increased 96.1% to ¥448.9 billion for the first nine months of its fiscal year, the second largest automaker in Japan said in a statement. Continue reading

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Ally Financial Posts Net Income of $1.1 Billion in 2010

Ally Financial Inc. today reported net income of $79 million for the fourth quarter of 2010, compared to a net loss of $5.0 billion for the fourth quarter of 2009. For full-year 2010, Ally (formerly GMAC and now taxpayers own … Continue reading

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Renault Group Reports €38.97 Billion in 2010 Revenue; Return to Profitability Because of Record Sales of 2.6 Million Vehicles

Renault Group has turned around its results, according to a statement issued today by Carlos Ghosn, Chairman and CEO.

“Renault can already announce that, driven by record commercial results in a growing world market and good cost control, the Group has largely exceeded its annual free cash flow objective and reduced net automotive debt to €1.4 billion,” Ghosn said. Continue reading

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Chrysler Group Posts $652 Million Loss in 2010

Chrysler Group LLC today said that it had a total year net loss in 2010 of $652 million, and a net loss of loss of $199 million in Q4 2010, compared to a net loss of $84M in Q3 2010. Debt increased by $0.4 billion in 2010 to $5.8 billion from 2009 as the revision of 16 models increased costs and deceased revenue during their launch. Cash as of 31 December 2010 was $7.3 billion compared to $8.3 billion on 30 September 2010. Continue reading

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Ford Reports 2010 Full Year Net Income of $6.6 Billion

Ford Motor Company (NYSE: F) today reported 2010 full year net income of $6.6 billion, or $1.66 per share, an increase of $3.8 billion, or 80 cents per share, from 2009. Continue reading

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General Motors Declares Quarterly Dividend on Preferred Stock

General Motors Company (NYSE: GM, TSX: GMM) today announced that its Board of Directors declared a quarterly dividend of $0.647 per share on its Series B mandatory convertible junior preferred stock. Continue reading

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