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- Stellantis Posts Full Year 2025 Loss of €22.3B
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Category Archives: financial results
Tariffs – Trump’s Next Economic Disaster Looming
Despite all the legal and political controversies surrounding the Trump Administration’s trade and tariff policies, there is emerging clarity in one area with a high potential for damaging the auto industry and the U.S. economy. Anderson Economic Group identified the threat of tariffs as a “two-alarm fire for the auto industry” as early as November 2024. It recently estimated the costs per car of tariffs on Mexico and Canada at $4000 to $10,000, based on its analysis of ten different vehicles from multiple manufacturers.
“The Trade Expansion Act (TEA) has clear statutory authority. It’s been used before. It’ll probably be used again, whether now or next year, said Patrick Anderson,* Anderson Economic Group CEO today speaking to the Automotive Press Association. Continue reading
Posted in auto news, economy, environment, financial results, fuel economy or emissions, manufacturing, news analysis, public health, Trump Truth Tests
Tagged Anderson Economic Group, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, Patrick Anderson, The Trade Expansion Act. Automotive Press Association, Trump 2.0, X @KenAutoinformed
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Society of Automotive Analysts – New Board of Directors
The Society of Automotive Analysts (SAA) today announced its Board of Directors for 2025. Adam Bernard, Founder and Principal of AutoPerspectives, will serve as SAA president, while Jeff Schuster, President of Forecasting, GlobalData, moves into the vice president role. The SAA’s stated goals are to provide automotive professionals exclusive access to industry leaders, early insights and outstanding networking opportunities. “SAA members include every automotive industry professional interested in timely and useful auto industry data, discussion and dissemination of ideas, concepts and solutions,” the SAA said. Continue reading
Posted in auto news, connected vehicles, economy, environment, financial results, fuel economy or emissions, news analysis, people, quality, sales, shows and events
Tagged Adam Bernard, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, AutoPerspectives, general motors, GlobalData, Jeff Schuster, Ken Zino, Magna International, Matt Grecki, Steve Hallman, X @KenAutoinformed
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Porsche Posts Preliminary 2024 Results
Porsche AG said late yesterday it expects these results (unaudited) for the 2024 financial year: The automotive net cash flow margin is over 10% (forecast 7 to 8.5%). The return on sales is at the lower end of the forecast range. Other performance indicators “do not show significant deviations from the forecast ranges.”
However, Porsche said it would incur an €800 million (~$831 million) charge against operating profit this year because of the cost of introducing new models with internal combustion engines, as well as plug-in hybrids. Continue reading
Volvo Cars Posts Record Sales, Revenue, Profits in 2024, but…
Volvo Cars (VOLCAR B:STO)* today posted a record-breaking year in 2024 with the highest full-year retail sales, revenues and core operating profit in its 98-year history. However, the Chinese owned company anticipates a turbulent 2025 “due to challenging market conditions,” aka Trump’s Trade and Tariff Wars.** “Full-year revenues exceeded SEK 400 billion for the first time in the company’s history, due to a new all-time sales record of 763,389 cars. Its full-year core operating profit of SEK 27 billion, excluding joint ventures and associates, was another record and up 6% compared to 2023. The core operating margin came in at 6.8%, up from 6.4% in 2023,” Volvo said. Continue reading
Posted in auto news, car sharing, connected vehicles, economy, environment, financial results, insurance, manufacturing, marketing, mobility company, news analysis, sales, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Geely Holding, Jim Rowan, Ken Zino, Trump Trade and Tariff Wars, Volvo Cars, X @KenAutoinformed
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Ford Motor Posts Mixed Results for 2024
Ford Motor Company (NYSE: F) today posted Q4 full-year 2024 financial results. They were mixed from awful to okay. During 2024, Ford Blue’s revenue was flat at $101.9 billion as positive net pricing offset a 2% decline in wholesale vehicle transactions from what Ford said were the cancellation of low-margin products. The internal combustion engine segment at Ford S EBIT was $5.3 billion. Ford Model e reported a full-year EBIT loss of $5.1 billion. The electric vehicle e segment delivered $1.4 billion in cost improvements, net of a $100 million increase in spending to launch new battery plants and next-generation electric vehicles, Ford said. For full-year 2024, revenue climbed 5% to $185 billion; net income was $5.9 billion, and adjusted EBIT was $10.2 billion. For 2025 Ford is predicting a $2 billion profit drop! Bloomberg says that 27% of analysts have a sell recommendation, the highest on record. Continue reading
Posted in auto news, connected vehicles, economy, electric vehicles, financial results, insurance, mobility company, news analysis, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ford Motor 2024 financial results, Ford Motor Company, Jim Farley, Ken Zino, NYSE F, X @KenAutoinformed
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Toyota Motor Posts FY2025 Q3 Net Revenue Gain
Toyota Motor Corporation (TMC: Tokyo 7203. NYSE: TM) today announced financial results for the third quarter fiscal year 2025, which ended 31 December 2024. TMC also announced significant changes in China. Consolidated vehicle sales totaled ~7,000,000 units, a decrease of ~295,000 units compared to the same period fiscal year 2024. On a consolidated basis, net revenues for the period totaled 35.673 trillion yen ($233.2 billion), an increase of 4.9%. Continue reading
Posted in auto news, connected vehicles, economy, electric vehicles, environment, financial results, insurance, manufacturing, marketing, mobility company, news analysis, results, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Ken Zino, Lexus BEVs and batteries in Shanghai China, Tokyo 7203, Toyota Battery Manufacturing North Carolina, X @KenAutoinformed, Yoichi Miyazaki
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More Stellantis Executive Changes as Stock Drops
“Through targeted organizational adjustments, the regions now have enhanced local decision-making and execution capabilities in respect of product planning, product development, industrial and commercial activities, while maintaining coordination with the Company’s global functions to best serve their customers,” Stellantis said. However, there still is no new permanent Chief Executive Officer from the Special Committee of the Board of Directors at a time when Trump’s executive orders – viz tariff’s – are wreaking havoc in the auto industry. Stellantis shares are down ~8% this morning. Continue reading
Posted in auto news, car sharing, connected vehicles, economy, environment, financial results, manufacturing, mobility company, news analysis, people
Tagged Alain Favey, Anne Abboud, Antonio Filosa, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bob Broderdorf, Clara Ingen-Housz, Ken Zino, Ned Curic, Olivier François, Stellantis, X @KenAutoinformed, Xavier Peugeot
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CarMax FY Q3 Net Profit Up 1.2%
CarMax (NYSE: KMX) today reported results for the third quarter ended November 30, 2024. Total gross profit of $677.6 million increased by 10.6% year-over-year (YoY) because of higher volumes and margins. Gross profit per retail used unit was $2306, in line with the prior year’s Q3. Gross profit per wholesale unit was $1015, up $54 per unit. Extended Protection Plans (EPP) margin per retail unit of $573, was an increase of $53.
“I am pleased with the positive momentum that we are driving across our diversified business model. Our solid execution and a more stable environment for vehicle valuations enabled us to deliver robust EPS growth driven by increases in unit sales and buys, solid margins, growth in CAF income, and ongoing management of SG&A,” said Bill Nash, president and chief executive officer. Continue reading
Carlos Tavares Out as Stellantis CEO
Stellantis (NYSE: STLA ) in an unusual but not surprising Sunday release said that the Company’s Board of Directors, under the Chairmanship of John Elkann, has accepted Carlos Tavares’ resignation on 1 December 2024 as Chief Executive Officer with immediate effect. The process to appoint the new permanent Chief Executive Officer is well under way, as AutoInformed* previously reported, managed by a Special Committee of the Board. It will conclude within the first half of 2025. Until then, a new Interim Executive Committee, chaired by John Elkann, will be established. Continue reading
Posted in auto news, customer satisfaction, financial results, milestones, mobility company, news analysis, people, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, carlos tavares, John Elkann, Ken Zino, NYSE: STLA, X @KenAutoinformed
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Lexus, Honda Top 2025 U.S. ALG Residual Values
“Honda stayed disciplined with pricing in 2024, avoiding the aggressive manufacturer’s suggested retail price (MSRP) increases that diminished affordability at other brands, while Lexus’ restraint with incentives paid dividends, as incentives have a direct negative effect on the resale values of older models,” said Danny Battaglia, managing director of ALG customer success at J.D. Power. “Additionally, the top brands consistently employ a balanced strategy with regard to trim levels, powertrains and pricing, which helps bolster residual performance and long-term value for consumers who are shopping in a highly competitive market.” Continue reading
Chinese EV Trade Wars Hits Volvo Cars
Volvo Cars (VOLCAR B:STO) today announced the selling of its 30% stake in Lynk & Co to Zeekr, a transaction representing a consideration of RMB 5.4 billion (~ SEK 8 billion). The transaction will be paid in cash, with 70% of the amount paid at closing, and 30% plus interest paid one year after closing. The transaction is expected to close during the first quarter of 2025. Volvo Cars is currently trading near its all time low.
The transaction involves Volvo Cars (China) Investment Co., Ltd, an indirect subsidiary of Volvo Car AB, selling its share in Lynk & Co Automotive Technology Co., Ltd to Zhejiang Zeekr Intelligent Technology Co., Ltd, an indirect subsidiary of Zeekr Intelligent Technology Holding Limited. Continue reading
Posted in auto news, electric vehicles, financial results, news analysis, results, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Eric Li, Geely Automobile Holdings, Geely Holding, Ken Zino, Li Shufu, Lynk & Co, VOLCAR B:STO, Volvo Cars, X @KenAutoinformed, Zeekr
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Stellantis Net Profit Down 70% in 2024
Stellantis (NYSE: STLA) said today that full year 2024 results were net revenues of €156.9 billion, down 17% compared to 2023. Net profit was €5.5 billion, down 70%. Adjusted operating income of €8.6 billion fell 64%. Industrial free cash flows were negative €6 billion reflecting the decline in income and temporary enlarged working capital impact due to production cuts. However, despite the almost total car wreck, the dividend to common shareholders is proposed at €0.68 per share, representing a 5% yield, pending shareholder approval. Continue reading →