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Category Archives: financial results
Stellantis Q1 Revenues, Shipments Drop – Transition or Trend?
Stellantis reiterated a minimum commitment of double-digit Adjusted operating income (AOI) margin in 2024, as well as positive Industrial free cash flow, despite macroeconomic uncertainties. Stellantis claimed that it is on track to deliver total capital returns in 2024 more than €7.7 billion, for an 11% yield as a percentage of Stellantis market capitalization on 1 January 2024. It is likely that its value will go down in the short term. The company, in AutoInformed’s view is in a transition that requires the balancing of market share, product cost, revenue and development of new offerings. It is not alone among automakers. Continue reading
Posted in auto news, electric vehicles, financial results, mobility company, news analysis, results
Tagged alfa romeo, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, chrysler, citroën, Dodge, Fiat Topolino, jeep, Ken Zino, Maserati Grecale Folgore, Natalie Knight CFO of Stellantis, NYSE: STLA, Ram ProMaster, Stellantis Q1 2024 financial results
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Badass UAW Bargaining Committee Gets Record Daimler Deal
“Tonight, I’m in Charlotte, North Carolina, and I am honored to be joined by the badass bargaining committee representing over 7000 members at Daimler Truck North America,” Fain said. “We’re here tonight to announce a major victory for the members who build Freightliner and Western Star trucks and Thomas Built buses. Today, we reached a tentative agreement with Daimler. What started thirty-two years ago this month at the Mt. Holly plant, when the courageous 17-day strikers stood up and won a historic, first of its kind agreement, has come full circle. Continue reading
Posted in auto news, financial results, labor issues, manufacturing, mobility company, people, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Daimler Truck North America, Daimler Truck UAW contract, Ken Zino, Shawn fain, Walter Reuther
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Ford Motor Posts Q1 2024 Net Income of $1.3 Billion
Ford Motor (NYSE: F) late yesterday posted weak 2024 Q1 operating results of $42.8 billion in revenue (+1.3B YoY), net income of $1.3 billion (-1.1%), and adjusted EBIT of $2.8 billion (-6%) as global sales dropped 11,000 vehicles to 1,045,000. Ford nonetheless declared a second-quarter regular dividend of 15 cents per share, payable 3 June to shareholders of record at the close of business on 8 May 2024. Continue reading
Nissan Arc Business Plan is Sinking?
The forecast sales volume has been lowered to 3.44 million units, net revenue to 12.6 trillion yen, and operating profit to 530 billion yen. Net income is forecast to reach 370 billion yen for fiscal year 2023. “The revision is due to a decrease in sales volume, various cost reliefs made to suppliers such as inflation, and other factors,” Nissan said. Continue reading
Bidenomics and the State of the Union
Once again President Biden took on the failed economic polices of the party of no hope, aka Republicans, and the former mis-administration disaster that he inherited in his State of the Union address last night. Nowhere is the contrast between good public policy and the republican politics of hate more evident than the ongoing recovery from the pandemic.
During an inspiring campaign speech that lasted more than an hour, Biden addressed – among other things – our economy. “I came to office determined to get us through one of the toughest periods in our nation’s history. And we have. It doesn’t make the news but in thousands of cities and towns the American people are writing the greatest comeback story never told. … America’s comeback is building a future of American possibilities, building an economy from the middle out and the bottom up, not the top down, investing in all Americans to make sure everyone has a fair shot … I inherited an economy that was on the brink,” Biden said. Continue reading
Posted in AutoInformed Editorial, blog, customer satisfaction, economy, environment, financial results, labor issues, manufacturing, news analysis, public health, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, donald trump, Ken Zino, Republican insurrectionists, State of the Union, The Hustings
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Stellantis Posts Record 2023 Results – €18.6B Net
“As we just passed the three-year mark since Stellantis’ inception, I warmly thank our teams who are executing at the highest levels and contributing greatly to our growth story, even in the strongest of headwinds. Today’s record financial results are proof that we have become a new global leader in our industry and will remain rock solid as we look to a turbulent 2024. Thanks to our flexible technology and product roadmap, we are prepared to address the various scenarios that could arise and to continue delivering on our Dare Forward 2030 targets,” said Carlos Tavares, CEO. Continue reading
Posted in alternative fuels, auto news, economy, electric vehicles, engineering, environment, financial results, manufacturing, marketing, milestones, mobility company, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, carlos tavares, Ken Zino, NYSE: STLA, Stellantis earnings and strategy, STLA platforms
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Ford Motor Posts 2023 Net Income of $4.3 Billion
CFO John Lawler said that Ford’s robust cash flow and disciplined capital allocation enable vital investments in Ford+ while also returning value to shareholders – targeting distributions of 40% to 50% of adjusted free cash flow. Ford declared a first-quarter regular dividend of 15 cents per share and a supplemental dividend of 18 cents per share. The dividends are payable March 1 to shareholders of record at the close of business on Feb. 16. Lawler said that Ford “will improve capital efficiency by both selectively reducing investments and raising the bar on expected returns for initiatives that the company greenlights.” Continue reading
Stellantis NA COO Mark Stewart Out. Carlos Zarlenga In
“In the very demanding North American market with many obstacles to overcome in order to foster the performance of the Company, Carlos Zarlenga is the best leader among our talent pool to replace Mark Stewart and to drive the change in our business model towards electrification in the region. Carlos Zarlenga has demonstrated his ability to bring together and unite diverse teams and to deliver the expected results,” said Carlos Tavares, CEO of Stellantis. “I would like to thank Mark Stewart for his contribution to this role after a three-year cycle, corresponding to the date of creation of Stellantis and I wish him the best in his new position.” Continue reading
Penske Automotive Group 2024 Q1 Earnings Drop
“Our retail automotive service and parts revenue grew 9% to a quarterly record of $746 million. During the quarter, we experienced a recovery across our used vehicle retail automotive operations with profitability improving sequentially by $428 per unit retailed. Further, I was pleased with our focus on controlling costs as selling, general, and administrative expenses as a percentage of gross profit improved by 30 basis points sequentially to 70.7%,” said Roger Penske Chair and CEO. Continue reading →