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Category Archives: results
GM to take $700 Million Charge for Q2 Safety Recalls
GM said today in an SEC filing that it expects to take a charge of up to $700 million in the second quarter for the cost of recall-related repairs announced. This amount includes a previously disclosed $400 million charge for recalls announced May 15 and May 20. Continue reading
Posted in financial results, recalls
Tagged autoinformed, autoinformed.com, Ken Zino
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US Vehicle Sales at Nine Year High in May
The calendar helped US light vehicle sales to a nine-year record during May of 2014 as the Federal government continued to print money and hold interest rates low. Overall, the light vehicle market expanded 11.4% to 1.6 million units. The real change was in the light truck market, which grew 13.3% to 815,000 units. Continue reading
As Automakers Move to Eliminate Franchised Car Dealers, the “No Jobs” Debate Continues over the future of the US Economy
Not coincidentally, the survey comes as automakers are redoubling efforts to sell vehicles online as a way around traditional middlemen, specifically NADA members, which of course raises the end price of a new vehicle to buyers. Continue reading
Oops! Chrysler Group Posts Q1 Loss of $690 Million Because of UAW Buyout. Income, Revenue, Cash Flow Increase
Chrysler Group reported net loss of $690 million for Q1 because of $1.2 billion in charges for the UAW buyout, which allowed Fiat to takeover complete control of Chrysler. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, chrysler group, fiat Chrysler, Ken Zino
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Global Light Vehicle Sales at 86.6 Million Annual Rate
Sales of light vehicles remained robust in April with a seasonally adjusted annualized rate of 86.6 million, up slightly from March. U.S. sales strengthened a t 16.4 million annualized, while the largest vehicle market, China, is now running at more than 23 million vehicles annually. Continue reading
U.S. Auto Sales Thaw in April
U.S. auto sales increased in April with the overall market up 8.1% for all brands to 1.391 million vehicles. AutoData said the seasonally adjusted annual rate, or SAAR, for April at 16.04 million, showed an improvement from 15.9 million units in April 2013. Offshore brands held a 53.9% market share, selling 750,328 vehicles, down from a market share of 55.1 percent and sales of 847,047 units last month. Continue reading
Ford Motor Q1 Pre-Tax Profit $1.4 Billion. Net $989 Million. Both Down
Ford Motor Company today posted decidedly mixed results as its warranty costs, older products, increased competition and special items led to a Q1 pre-tax profit of $1.4 billion, a decrease of $765 million compared with a year ago. Q1 net income is $989 million, or 24 cents per share, a decrease of $622 million compared with a year ago, including pre-tax special item charges of $122 million. Continue reading
U.S. April Auto Sales Up to pre-Great Recession Levels
April auto retail sales of new light vehicles in the U.S. are expected to reach their highest levels for the month of since 2005 at 1.1 million units. This is 5% higher than in April 2013. Continue reading
Switched Off! GM Q1 Earnings Plummet to $100 Million
General Motors Co. (NYSE: GM) today announced Q1 net income only $100 million, or $0.06 per diluted share. Q1 was a disaster with its net loss from special items of $400 million, or $(0.23) per diluted share, and a whopping $1.3 billion pre-tax charge for the cost of recall-related repairs, or $(0.48) per diluted share – a negative $1.7 Billion swing. Continue reading
Toyota Motor Production 2.6 Million in Japanese Q4.
Toyota Motor posted strong results in its latest quarter with the fifth consecutive year of offshore production increases – a record high – with an ongoing and growing manufacturing presence in North America, Latin America, Europe, Asia and Oceania. Continue reading
Western EU Car Sales increase in March
While the annual selling rate, or SAAR, is still a pitiful11.8 million, car sales in Western Europe grew by 10% in March to 1.4 million. The car market continues to slowly expand, up 7.4% for Q1 of 2014. Continue reading
Holy Toledo! 2015 Corvette Gets Eight-Speed Automatic
Chevy claims excellent shift times that rival the best dual-clutch designs of which ZF is the leading supplier. Porsche, of course, offers dual-clutch automatics and the new Corvette already outperforms Porsche models costing tens – or much more – thousands of dollars greater. Continue reading
Posted in fuel economy or emissions, performance
Tagged autoinformed, autoinformed.com, Ken Zino, toledo transmission
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March U.S. Auto Sales – in like a Frozen Lamb, out like a Lion
The back end of March staged a comeback for U.S. auto sales as buyers – not lookers – visited dealer showrooms. Sales for all brands increased 5.7% compared to March 2013 and a whopping 28.8% compared to a frigid, stormy February. Continue reading
Baseball, Apple Pie and Red Sox v White Sox at White House
“We’re all on the same team.” And I think Big Papi put it better and more colorfully than any of us could. I won’t repeat his quote. But the point is, Boston and the Red Sox were one this season.” Continue reading
Posted in customer satisfaction, manufacturing, people
Tagged 2013 world series, autoinformed, autoinformed.com, Ken Zino, mlb, red sox
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