Category Archives: results

Nissan Posts First Annual Profit in Three Years.

“It is clear that our industry and therefore our performance was impacted by intensifying headwinds in the last fiscal year,” said chief operating officer Ashwani Gupta, warning that conditions remain uncertain to an unprecedented degree. Continue reading

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Ford India Shelves EV Manufacturing Export Plans

In an official response as Ford’s Annual Meeting was underway in the US, Ford India’s spokesperson confirmed and said, “After careful review, we have decided to no longer pursue EV manufacturing for exports from any Indian plant.” At the Annual Meeting Bill Ford and Jim Farley fielded tough questions about its EV strategy, splitting the company into two arms and ongoing supply chain and perennial guilty problems. Ford shares are down ~40% this year. (AutoInformed: Ford Motor Blues – Q1 Loss of $3.1 Billion; Ford Motor Structure Threatens Viability. Vast Reorg Coming) Continue reading

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Toyota Annual Results Show Profitability Struggle Goes On

So in Toyota’s view its profitability struggle goes on. Akio Toyoda said consolidated vehicle sales for the period were 8.230 million units, which was 107.6% of consolidated vehicle sales for the same period of the previous 2021 fiscal year. The year-end dividend will be 28 yen per share. Thus, Toyota finds itself pretty much in the same place as all other major automakers. Continue reading

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Renault Group, Plug Power to be at HyVolution Tradeshow

HYVIA is preparing a portfolio of three hydrogen powered light commercial vehicles: a van, a chassis cab and a city bus, with a range of up to 500 km, as well as a complete ecosystem of H2 stations, H2 production and associated services. The first vehicles are expected to be on the road from mid-2022. With a payload of up to 1000 kg, Master Chassis Cab H2-TECH is equipped with a 30-kW fuel cell, a 33-kWh battery and tanks containing 3 kg of hydrogen (2 tanks of 1.5 kg) at 700 bars. Continue reading

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West European Car Sales Decline in April to 8.8 Million

“Supply chain bottlenecks still the key reason for the depressed level of registration statistics. The war in Ukraine, as well as lock-downs in China, will likely exacerbate supply issues, meaning vehicle sales will continue to suffer from a lack of adequate supply,” LMC said today. Continue reading

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BMW Group Post Q1 Earnings of €10.185 Billion

The JV has been fully consolidated since 11 February 2022, following the extension of the joint-venture agreement and the increase in shares held by BMW AG from 50% to 75%. Since this date, around 23,000 employees in China have been added to the BMW Group workforce number. The subsidiary contributed €3.287 billion to revenues from 11 February 2022 onwards. Continue reading

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Stellantis Posts Q1 2022 Net Increase of 12% at €41.5B

The positive performance followed an ordinary dividend of €1.04 per share  that approved at annual meeting and paid to shareholders in April 2022. Continue reading

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US April Sales Up 6.5%. SAAR Down -21.9% YoY

“However, April 2022’s SAAR was down by 21.9% compared to the stellar sales pace seen in April of 2021 which was driven by strong consumer demand and enough inventory available to meet that demand. April 2021 was one of the last sales months before inventory began to decline significantly and limit the sales pace. We don’t expect that April’s month-end inventory level will change much from March’s level of 1.23 million units as the industry is still unable to produce enough vehicles to meet current demand, let alone restock dealer lots,” said Patrick Manzi, NADA’s Chief Economist. Continue reading

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Auto Loan, Lease Total at Record $1.3 Trillion during 2021

“Auto finance growth in 2021 was largely driven by strong – and expensive – used cars, which bolstered originations,” said Marcie Belles, author of the report… “many financiers recorded lower ratios of new cars in their portfolios. Still, origination volume has been nearly restored to pre-COVID levels, and it continues to climb.” Continue reading

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Electrify America: 2021 EV Charging up 54 Times cf 2020

Electrify America has 800 EV charging stations and about 3,500 individual chargers open or with construction completed. The largest, open ultra-fast DC charging network features up to 150 kilowatts (kW) and 350 kW chargers, some of the fastest speeds available today. Electrify America expects to have more than 1,800 total charging stations with over 10,000 chargers in the United States and Canada by 2026. Expansions plans are helped by the potential to use the chargers as advertising displays. Continue reading

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Ford Recalls Explorer, Super-Duty F-Series for Safety Defects

Ford Motor is recalling 2020-2021 Explorer Police FHEV, Explorer Police 3.3L, and 2020-2022 Explorer 2.3L RWD, 3.0L PHEV, 3.3 L FHEV, and 3.0L ST gasoline vehicles because the rear-axle horizontal mounting bolt may fracture and cause the driveshaft to disconnect.

In another recall, Ford is recalling 2020 Super Duty F-250, F-350, F-450, and F-550 vehicles equipped with 6.7L diesel engines. A washer within the vehicle’s transmission can disintegrate, causing metallic debris to become lodged in the ‘Park’ mechanism. Debris lodged within the ‘Park’ mechanism may prevent the vehicle from achieving or holding ‘Park,’ increasing the risk of a vehicle roll-away and a crash.

Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.nhtsa.gov. Continue reading

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M-B Group Runs Self-Congratulatory First Annual Meeting

Well, in the face of  the ongoing pandemic and supply bottlenecks, as well as German funding of the Russian war on Ukrainian men, women, children and babies by buying Russian energy products, the financial year 2021 at Mercedes-Benz Cars, Mercedes-Benz Vans and Mercedes-Benz Mobility was successful. A dividend of €5.00 was proposed with €4.30 new reference point for dividend payments. Continue reading

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Ford Motor Blues – Q1 Loss of $3.1 Billion

As with GM yesterday, Ford was battered by supply chain disruptions mostly beyond its control, as well as self-created costs from the valuation of its investment in Rivian with a mark-to-market loss of $5.4 billion on the company’s investment down from $10.6 billion at the end of 2021. Strong customer demand from the ongoing Biden Administration recovery wasn’t helped by Ford’s popular vehicles because of  persistent supply chain issues that Ford was unable to adjust for. Continue reading

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GM Q1 $4 billion. Net $2.9B

“We are now in a rapid launch cycle thanks to investments and initiatives we have undertaken across our entire company over the last several years,” said CEO and Chair Mary Barra in a letter to shareholders released with the earnings. Continue reading

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Milestones – Production Begins for Ford F-150 Lightning EV

Ford Motor, whose existence was tenuous during the Great Recession, is now the top automaker in America in terms of 2021 production, sales of US-made vehicles and employment of hourly autoworkers. The F-150 Lightning is the only full-size electric pickup available now with a starting price less than $40,000. Ford F-Series has been America’s best-selling truck for 45 years running and is second only to the iPhone in revenue among all American consumer products, according to a 2020 study. Continue reading

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