Category Archives: results

VW to Introduce New Diesel Engine in U.S. in mid-2014

Posted on 6 August 2013 by Ken Zino

Volkswagen Group of America today confirmed the timing of the company’s newest diesel engine, the so-called EA288 will power the 2015 Golf, Beetle, Passat, Jetta, due in dealer showrooms during the second half of 2014. Continue reading →

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Offshore Brands Move Ahead in July. Toyota outsells Ford

Posted on 2 August 2013 by Ken Zino

GM by slightly outperforming an overall market that was up 14% easily held onto its Number One spot in the U.S. at 234,071 vehicles sold. However, Ford Motor slipped to Number Three as Toyota had a stronger month with sales soaring to 193,394 to Ford’s 190,080. March of 2010 was the last time Toyota topped Ford and with new Corolla compact car and Tundra pickup trucks just entering production, the back half of the year will see a battle royal between the two global automakers. Continue reading →

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Chrysler Group July 2013 U.S. Sales up 11%

Posted on 1 August 2013 by Ken Zino

It was the best July in seven years as Chrysler Group today reported U.S. sales of 140,102 units, an 11% increase compared with sales in July 2012 of 126,089 units. Jeep, Dodge, Ram Truck and Fiat brands each posted year-over-year sales gains in July compared with the same month a year ago. Chrysler Group extended its streak of year-over-year sales gains to 40-consecutive months in July Continue reading →

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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 →

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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 →

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$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 →

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Milestones – Henry Ford at 150 years

Posted on 30 July 2013 by Ken Zino

Today marks the 150th anniversary of the birth of Henry Ford, whose ideas helped revolutionized transportation, brought mobility to the masses and arguably established the U.S. middle class. Continue reading →

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Cuts to 2014 EPA Budget Threatens Auto Emissions Rules

Posted on 26 July 2013 by Ken Zino

Not surprisingly since the chairman is Hal Rogers, a Republican from Kentucky, the legislation reflects significant efforts to cripple the EPA – “an agency that has been rife with governmental overreach, overspending on ineffective and unnecessary programs, and costly and questionable regulations.” The bill funds the EPA at $5.5 billion, a reduction of $2.8 billion – or -34% – below the fiscal year 2013 enacted level. Continue reading →

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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 →

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EuroSlump Goes On – June Commercial Vehicle Sales Drop -5%

Posted on 26 July 2013 by Ken Zino

During June commercial vehicle sales in the EU dropped by -5% in the EU as vehicle registrations continued their downward trend to 149,996 units. In another dismal month, all segments were down, from -4.2% for vans to -14.0% for buses and coaches. Continue reading →

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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 →

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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 →

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July U.S. Sales Projected as Hot – up 12%

Posted on 20 July 2013 by Ken Zino

Not all this is good news for automakers in general, and specifically the Detroit Three. Drastic capacity cuts during the Great Recession have caught them out with the market recovery volumes approaching 16 million now running at least a year ahead of earlier forecasts. Mandatory overtime and cancelled vacations are the rule of the day, which ultimately will wear down UAW and workers at Japanese companies and inevitably lead to quality declines. Continue reading →

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GM Sales Up 4% in First Half of 2013. Chevrolet Sets Record

Posted on 16 July 2013 by Ken Zino

General Motors sold more than 4.85 million vehicles in the first half of 2013, an increase of under 4% compared to the same period in 2012. The question now is will GM remain Number Two in Global Auto sales when current leader Toyota Motor reports sales results for the period. GM in a rising global market increased its share only 0.1% year-over-year, while Toyota has been rebounding at a much higher rate. Continue reading →

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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 →

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