Category Archives: results

GM Q1 Earnings Drop 14% to $0.9 Billion. North America Weak. Europe Weaker. Cash Flow -$1.3 Billion

Posted on 2 May 2013 by Ken Zino

General Motors Company (NYSE: GM) today announced first quarter net income of $0.9 billion, or $0.58 per fully diluted GM share, down from $1 billion in the prior year quarter. The results include a net loss from special items that reduced net income by $0.2 billion, or $0.09 per fully diluted share. Continue reading →

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Chrysler, Ford, GM Post Double Digit April Sales Gains

Posted on 1 May 2013 by Ken Zino

The Detroit Three all had strong U.S. sales during April, recording levels not seen since the housing market collapse and the Bush Great Depression took hold during the last decade. Continue reading →

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Volkswagen Group Q1 Profit Drops as Europe Mars Results

Posted on 30 April 2013 by Ken Zino

Volkswagen Group profits decreased to €2.3 billion in Q1, down from a record €3.2 billion a year earlier. Global deliveries increased by 4.8% to 2.3 million vehicles worldwide as the Group’s share of the passenger car market rose year-on-year to 12.6% from 12.2%. Continue reading →

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Fiat Group Posts Slim €31 Million Profit in Q1

Posted on 29 April 2013 by Ken Zino

The Fiat Group in Turin today posted Q1 profits of €31 million or about $40 million with revenues of €20 billion from worldwide shipments of more than 1 million vehicles. Continue reading →

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Chrysler Group Q1 Profits Drop to $166 million

Posted on 29 April 2013 by Ken Zino

Chrysler Group today reported its 2013 Q1 results of $166 million in profits on revenue of $15.4 billion, off 6% from $16.4 billion one year ago. Continue reading →

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Subaru Recalls Forester for Pedal Interference

Posted on 29 April 2013 by Ken Zino

Subaru is recalling more than 10,000 2014 model Forester vehicles because the carpeted floor mats were not manufactured properly and can interfere with the gas, accelerator, brake or clutch pedals. Continue reading →

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GM files SEC Paperwork to Ease Share Sales

Posted on 26 April 2013 by Ken Zino

GM said in a statement that is not currently aware of any specific plans regarding an offering by any selling shareholders. When selling shareholders make an offering during the next three years, the terms would be established at the time of offering and described in a prospectus supplement filed with the SEC. GM will not receive any of the proceeds of sales of common stock or warrants by the selling shareholders in the shelf registration statement. Continue reading →

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Daimler Group Q1 Earnings Drop Based on EU Crisis

Posted on 26 April 2013 by Ken Zino

Daimler AG [DAI] posted a significant drop in Q1 earnings largely because of the ongoing economic slowdown in Western Europe where sales are running at a 20-year low. The Q1 EBIT of €917 million was less than half of Q1 … Continue reading →

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EU Commercial Vehicle Sales Drop -10% in March, -11% Q1

Posted on 25 April 2013 by Ken Zino

The UK, currently mourning Prime Minister Margaret Thatcher and which has resolutely stuck to the Pound, was the only major area to post growth at +7.7%. Continue reading →

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Ford Motor Posts Q1 Profit of $2.1 Billion

Posted on 24 April 2013 by Ken Zino

The Ford Motor profit of 41 cents per share was $147 million lower than a year ago as results in Asia were weak because of ongoing expansion; weaker still in South America because of currency problems in Venezuela and Argentina, as well as competition, and frankly disastrous in Europe where Ford has not been able to stem a flood tide of red ink for decades. Continue reading →

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Honda Sets All-Time Record for Global Auto Production

Posted on 24 April 2013 by Ken Zino

Honda Motor Company today announced that global of 4,056,141 vehicles stetting an all-time high for the Japanese fiscal year ending 31 March 2013. Continue reading →

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U.S. April Vehicle Sales Forecast at 12.1 Million SAAR

Posted on 23 April 2013 by Ken Zino

The annual sales rate of U.S. new vehicle sales for April is forecast as flat at 12.1 million units. This is the third month this year above 12 million, though, with retail sales of 1,029,000 million projected. Continue reading →

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Chevrolet Cruze Diesel Rated at 46 MPG Highway

Posted on 22 April 2013 by Ken Zino

Chevrolet said that its new 2014 Cruze Diesel will be rated at an EPA-estimated 46 MPG on the highway, better than any non-hybrid passenger car in America. It will be available in some cities this spring and nationwide and in Canada in the early fall. Continue reading →

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General Motors Sells 1 Million Vehicles in China

Posted on 22 April 2013 by Ken Zino

With total overall light vehicle sales projected at more than 20 million for 2013, China will easily retain its title as the world’s largest auto market followed by the U.S. at more than 15 million. Continue reading →

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Ally Financial Declares Dividends on Preferred Stock

Posted on 22 April 2013 by Ken Zino

The Ally Financial board of directors has declared quarterly dividend payments for outstanding preferred stock payable on 15 May 2013. Ally’s Fixed Rate Cumulative Mandatory Convertible Preferred Stock, Series F-2, will pay the U.S. Department of the Treasury $134 million, or $1.125 per share. Continue reading →

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