Tag Archives: results

General Motors to Introduce 20 New Models in China, Add Jobs

The world’s largest auto market, China, has been good to General Motors, the world’s largest automaker. So no surprise when General Motors Chairman and CEO Dan Akerson said today in Beijing that GM will introduce more than 20 new and upgraded models during the next two years, as well as strengthen Chinese product development capability. Continue reading

Posted in auto news, new vehicle, news analysis, results, sales | Tagged , , , , , , , , , , , , | Leave a comment

General Motors Sets January Vehicle Sales Record in China

General Motors had a record sales month in China in January, as GM’s two largest manufacturing joint ventures new monthly highs for vehicle sales in the world’s largest auto market of more than 18 million vehicles. It’s a continuation of GM’s strong performance in China during 2010, where it sold more cars and trucks than it did in the U.S. Continue reading

Posted in auto news, economy, new vehicle, results, sales | Tagged , , , , , , , , , , , , | Leave a comment

Ford to Issue Common Stock to Reduce Debt by $3 Billion

Ford Motor Company (NYSE: F) said today that it will convert some of its $16 billion in outstanding debt to shares of common stock. In so doing, the second largest Detroit automaker will take a charge of $60 million against its first quarter earnings.

Ford is still listed as below investment grade by the rating agencies – Moody’s Investors Service (Ba2) and Standard & Poor’s B+. Both are junk ratings that raise borrowing costs and limit large mutual funds from buying Ford bonds. Ford lost its investment grade rating in 2005. Continue reading

Posted in auto news | Tagged , , , , , , , , , , , , | 1 Comment

Renault Group Reveals Its 2016 Plan – Largely Outside Europe

The plan is heavily dependent on cost cutting, growth in emerging markets, and success of electric vehicles. In a statement that disappointed analysts, and sent the stock price down, Ghosn dismissed out of hand a merger with Nissan, claiming it was culturally impossible. Continue reading

Posted in auto news, economy, milestones, news analysis, results | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Nissan Posts Strong Q3. Ups Fiscal Year Forecast to ¥535 B

Nissan Motor Co., Ltd. reported consolidated net revenues of ¥6.4 trillion, 19.4% higher than the year-ago level. Operating profit increased 96.1% to ¥448.9 billion for the first nine months of its fiscal year, the second largest automaker in Japan said in a statement. Continue reading

Posted in auto news, economy, financial results | Tagged , , , , , , , , , , | Leave a comment

Early February U.S. Vehicle Sales Up by 17% from 2010. Significant Market Warming or Just a So What?

Both the number of people shopping for a new vehicle and the number who actually buy one are up during early February vehicle sales reports from car dealers. This could mean monthly sales in the 920,000 – 950,000 range, according the CNW Research, an industry consultancy. Continue reading

Posted in auto news, new vehicle, results, sales | Tagged , , , , , , , , , , , , | Leave a comment

Toyota Motor Corporation Reports 5% Increase in Net Revenues for Nine Months as it Struggles in Europe and Japan

The world’s largest automaker is still feeling the negative effects of image damaging safety and quality recalls, the rise in the value of the Yen, and the contraction of its Japanese home market. Continue reading

Posted in auto news, economy, new vehicle, results, sales | Tagged , , , , , , , , , , , | Leave a comment

Toyota Reports January Sales up 17%, as it Flings Incentive Gauntlet at Other Automakers with Cash and 0% Interest

Loyalty and conquest rates have returned to historical pre-recall levels,” said Bob Carter, Toyota Division group vice president and general manager, Toyota Motor Sales, U.S.A., who went on to say Toyota intends to grow at greater than market rates this year, thus flinging the gauntlet Chevrolet and Ford executives whose brands surpassed Toyota brand in U.S. sales last year. Continue reading

Posted in auto news, economy, marketing, new vehicle, results, sales | Tagged , , , , , , , , , , | Leave a comment

Chrysler Group Reports January U.S. Sales Up 23%

Chrysler Group LLC today reported U.S. sales of 70,118, a 23% increase compared with sales in January 2010 (57,143 units), and ahead of the overall U.S. market growth of 17%.

Chrysler’s heavy reliance on truck and minivan sales – roughly 75% of total – was a factor as overall truck sales in the U.S. increased 29% in January. Continue reading

Posted in auto news, economy, marketing, new vehicle, results, sales | Tagged , , , , , , , , , , , , , | Leave a comment

Ford Motor January U.S. sales up 13%

Ford Motor Company reported January sales were 127,317, up 13% from 2009, as the killing of the Mercury brand and a 27% decline in sales to daily rental companies hurt results. Continue reading

Posted in auto news, economy, marketing, new vehicle, results, sales | Tagged , , , , , , , , , , , , , , | Leave a comment

General Motors January Sales Rise 23%

General Motors dealers reported 178,896 total sales in the United States during January, a 23% increase from a year ago for the company’s four brands. Retail sales were 36% higher than January 2009. Continue reading

Posted in auto news, economy, marketing, new vehicle, results, sales | Tagged , , , , , , , , , , , , | Leave a comment

Ally Financial Posts Net Income of $1.1 Billion in 2010

Ally Financial Inc. today reported net income of $79 million for the fourth quarter of 2010, compared to a net loss of $5.0 billion for the fourth quarter of 2009. For full-year 2010, Ally (formerly GMAC and now taxpayers own … Continue reading

Posted in auto news, economy, financial results, results | Tagged , , , , , , , , , , , , , , | Leave a comment

Renault Group Reports €38.97 Billion in 2010 Revenue; Return to Profitability Because of Record Sales of 2.6 Million Vehicles

Renault Group has turned around its results, according to a statement issued today by Carlos Ghosn, Chairman and CEO.

“Renault can already announce that, driven by record commercial results in a growing world market and good cost control, the Group has largely exceeded its annual free cash flow objective and reduced net automotive debt to €1.4 billion,” Ghosn said. Continue reading

Posted in auto news, economy, financial results, results | Tagged , , , , , , , , , , , , | Leave a comment

Chrysler Group Posts $652 Million Loss in 2010

Chrysler Group LLC today said that it had a total year net loss in 2010 of $652 million, and a net loss of loss of $199 million in Q4 2010, compared to a net loss of $84M in Q3 2010. Debt increased by $0.4 billion in 2010 to $5.8 billion from 2009 as the revision of 16 models increased costs and deceased revenue during their launch. Cash as of 31 December 2010 was $7.3 billion compared to $8.3 billion on 30 September 2010. Continue reading

Posted in auto news, economy, financial results, results, sales | Tagged , , , , , , , , , , , , | Leave a comment

Renault-Nissan Alliance Posts Record 2010 Sales of 7.3 million

The Renault-Nissan “Alliance” had a record year with 7,276,398 units sold in 2010, a 19.6% increase over 2009 in a market that grew by 11.8%, Renault today said in a release.

This means that Renault-Nissan Alliance captured 10.3% of the global market in 2010, if you use Renault’s estimate of 70,476,213 vehicles sold during the calendar year. Continue reading

Posted in auto news, economy, marketing, results, sales | Tagged , , , , , , , , , , , , | Leave a comment