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Tag Archives: results
Worrisome for competitors were increases in market share of 2.6% at Toyota, and 1.2% at Honda year-over-year, according to AutoData. Each percentage point in share is worth roughly $1 billion dollars in profits, according to an old industry rule of thumb. Left as road kill was Nissan whose share dropped more than 1% with sales of 92% units. Continue reading
General Motors reported September U.S. vehicle sales of 210,245 vehicles, an increase of 1.5% compared year-over-year to September 2011 in an industry that grew by 14.5%. GM sales executives, looking for a bright spot, said that passenger car sales increased to 89,000 from 69,000 for September, or +29%, compared to an industry gain of +23.5%. All GM brands increased their retail sales in what was another tough month for the U.S.’s largest automaker. The largest U.S. automaker now unquestionably has a better sales mix with calendar year-to-date sales of 813,000 cars, 678,000 trucks and 478,000 crossover vehicles. GM sales year-to-date are up 3.4% in an industry that recovered at four times that rate, though. The tepid or turn-around GM sales – choose your interpretation – GM are the sum of a complex three-dimensional game, which attempts to balance profits, capacity, competitive actions and momentum, with still badly needed brand rebuilding. Continue reading
September U.S. vehicle sales at Ford Motor were the same as last year,175,000, as the Dearborn-based automaker continues to lag market growth. A variety of factors – including inventory shortages, the result of deficient forecasting made early in the Great Recession when Ford jettisoned (too) many workers and plants, as well as necessary new model changeovers now underway are clearly hurting results.
Projections put the overall U.S. industry up more than 12% when final numbers are available late today [September came in at +13%], with Japanese makers Toyota, Nissan and Honda expected to post double-digit increases as car segments continue to boom because of $4 a squirt gasoline. Once again, this month Toyota – now fully back in production – challenged Ford for the Number Two U.S. sales position with monthly sales of 171,910 units.
The subcompact, compact and midsize car segments are expected to show retail sales growth of at least 25% percent, compared with September 2011, according to a projection by J.D. Power and Associates. Japanese automakers have strong reputations and residual values in these segments, which result in attractive pricing, buyer loyalty and increasing sales. Continue reading
Porsche increased sales in July by 16% helped by strong sales of the Boxster and 911. The automaker sold 12,391 cars and trucks during the month. Led by sales of the Panamera sedan and Cayenne sport utility vehicle, Porsche has sold 81,562 vehicles (+14 %) in the first seven months of 2012. Continue reading
Ford China sales in July totaled 42,560 up 32%. Most of the increase was due to the joint venture Changan Ford Mazda, which sold 26,306 Ford-brand cars, an increase of 44% from July of 2011. Sales of the old and new Focus dominated the results. Total Ford brand car sales including the imported Edge and Explorer were 27,498. Continue reading
Toyota Motor Corporation today said that Q1 results for the Japanese fiscal year produced a profit of ¥90.3 billion yen ($3.71 billion). Toyota posted vehicle sales for the first quarter of 2.27 million cars and trucks, an increase of 1.04 million compared to the same period last fiscal year. The largest Japanese auto company also raised its full year sales forecast some 180,000 vehicles, to 9.76 million cars this year, a better than 20% increase from 7.95 million cars in 2011. If current trends hold, Toyota will become the world’s largest automaker with more than 10 million vehicles sold blowing by a slumping General Motors when the books are closed for the 2012 calendar year. Year to date Toyota is ahead of GM by more than 300,000 units. Continue reading
GM Q2 Profits Drop to $1.5 Billion From $2.5 Billion as Its European Losses Grow. Revenue and Cash on Hand also Decreased.
General Motors Company (NYSE: GM) today said Q2 income was $1.5 billion, or $0.90 per share of common on revenue $37.6 billion. The disappointing results compared to Q2 2011 where GM’s net income attributable to common stockholders was $2.5 billion, or $1.54 per fully diluted share. GM said the decrease was due almost entirely to the strengthening of the U.S. dollar versus other major currencies. Earnings before interest and tax (EBIT) adjusted was $2.1 billion, compared with $3.0 billion in the second quarter of 2011.
“Despite the challenging environment, GM has now achieved 10 consecutive quarters of profitability, which is a milestone the company has not achieved in more than a decade,” said GM chairman and CEO Dan Akerson. The CEO also alluded to ongoing management changes and reorganizations, saying “we will not hesitate to act to make the business stronger” by replacing people who don’t deliver results, with no apparent awareness that U.S. taxpayers who still hold a large stake in the company could apply that dictum to him. Continue reading
Ford Motor Company’s July sales in the U.S. declined 4% as the Number Two automaker failed to keep pace with a recovering U.S. auto market. Sales executives attributed the weak performance to lower fleet sales, which were off -16% but still made up 27% of Ford’s 173,482 vehicle sales for the month. This could be viewed as progress of sorts since the fleet share declined from 31% a year earlier. Continue reading