Tag Archives: results

Hyundai Sales Flat in April as Capacity Constraints Hurt

Posted on 2 May 2012 by Ken Zino

“Never has a relatively flat sales month felt quite so good,” said Dave Zuchowski, Hyundai Motor America’s executive vice president of national sales. The question facing Hyundai remains how to increase production to find out what is the true demand for its hot selling, highly styled vehicle lines? It has been clear for more than a year now that Hyundai needs another plant, a risk that management has so far been reluctant to take. Continue reading →

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April Sales at Toyota Motor up 12%. Honda and Nissan Flat

Posted on 1 May 2012 by Ken Zino

The strong April sales performance at Toyota Motor Sales brought it to within a rounding error to surpass a slumping Ford Motor Company for the Number Two ranking in U.S. auto sales. TMS was only 1,614 units behind Ford Motor, according to numbers from the consultancy AutoData. Continue reading →

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Chrysler Group April 2012 U.S. Sales Increase 20% to 141,000

Posted on 1 May 2012 by Ken Zino

Chrysler Group today reported April U.S. sales of 141,165 units, a 20% increase compared with sales in April 2011 of 117,225 units. It was the comeback car company’s best sales performance in the month of April since 2008 when it was speeding toward bankruptcy and a taxpayer bailout.

During April Chrysler Group recorded its 25th-consecutive month of year-over-year sales gains and its 11th-straight month of sales increases of at least 20%. Based on preliminary sales numbers, Chrysler Group beat the average sales increase for the auto industry for the 14th-consecutive month. Continue reading →

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Honda Q4 Profit up 61%, but Fiscal Year Down

Posted on 30 April 2012 by Ken Zino

Now that production has resumed, and the all important North American and Asian markets are recovering, Honda predicted record global vehicle sales of 4.3 million vehicles – up from 3.1 million – for this fiscal year and a profit of ¥ 470 billion. Continue reading →

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Renault Group Q1 Sales, Revenues Drop from Eurozone Crisis

Posted on 25 April 2012 by Ken Zino

The problem was almost entirely in the home French market which shrunk by 19.4%. As a result, Renault Group’s European market share decreased to 9.1%. The EU is heading for its fifth straight year of auto sales declines as politicians and bankers continue to pursue policies that increase unemployment and decrease economic activity. The mix of sales outside Europe reached 46%, up 8 points compared to the first quarter 2011. Continue reading →

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Peugeot Annual Meeting Kills Dividend. Q1 Revenues Drop

Posted on 25 April 2012 by Ken Zino

The Q1 downturn comes as Peugeot is in the process of establishing a global alliance with General Motors, which is also losing money in Europe for more than a decade – $700 million in 2011 alone. Continue reading →

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AutoNation, Penske Report Strong Q1 Earnings from Dealers

Posted on 25 April 2012 by Ken Zino

The two largest auto dealer groups operating in the United States reported large increases in Q1 earnings and profits today. It was the latest sign that a slow recovery is well underway in the auto industry. However, the new luxury vehicle business, where broken out, had relatively weak results compared to other segments. Luxury cars, of course, were once thought to be recession proof and discount proof, but that is no longer the case as discounts are increasing along with competition from non-luxury autos with high levels of equipment. Continue reading →

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Honda Global Production Declines for 2012 Fiscal Year

Posted on 25 April 2012 by Ken Zino

Honda Motor Company today announced that global automobile production declined to 12% to 3.1 million vehicles for the Japanese fiscal year ended March 31, 2012. The setback induced by natural disasters in Japan and Thailand stopped the recovery Honda experienced in 2011, after a decline in 2010. Continue reading →

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Delphi Reports Q1 Profits are Up 9% to $578 Million

Posted on 24 April 2012 by Ken Zino

In the first quarter of 2012, Delphi’s corporate credit ratings were raised to ‘BB+’ from ‘BB’ by Standard and Poor’s and to Ba1 from Ba2 by Moody’s Investor Services, both junk ratings with a stable outlook. Delphi’s stated goal is to achieve an investment grade credit rating. Continue reading →

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Auto Dealer Profits Dropping in China

Posted on 22 April 2012 by Ken Zino

The Chinese auto market only grew by 5% during 2011, by far the lowest growth rate of the 21st century, as the communist central government deliberately slowed the economy in an attempt to fight inflation. Still, 2012 is forecast to result in sales approaching 20 million vehicles – 6 or 7 million more than the projected United States light vehicle market. Continue reading →

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Volkswagen Shareholders Approve Dividend Increase

Posted on 20 April 2012 by Ken Zino

The shareholders at the 52nd Annual General Meeting of Volkswagen Aktiengesellschaft voted by a majority of 99.96% to pay a dividend of €3.00 (previous year: €2.20) per ordinary share and €3.06 (€2.26) per preferred share as recommended by the Board … Continue reading →

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Spring Auto Selling Season Sags as April Sales Rate Slows

Posted on 19 April 2012 by Ken Zino

Even rich people are apparently now concerned about the large depreciation rates of their luxury vehicles, which drives up the cost of ownership as trade-in values or lease residuals droop. The improved content and features in recent non-luxury vehicles offer a better value for consumers returning to the marketplace, especially if their needs are not ego driven. The problem for automakers is compounded by market forces, which are prompting free maintenance on non-luxury cars, once the sole province of expensive vehicles. Continue reading →

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BMW Group Sales Set All-Time Global Record in March, Q1

Posted on 11 April 2012 by Ken Zino

During Q1 BMW also achieved a new high for the first three months. Retail volumes for the year to the end of March increased by more than 40,000 vehicles to 425,528 units (Q1 2011 – 382,763 units), which represents a growth of 11.2% compared with the first quarter of 2011. Continue reading →

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U.S. Auto Sales Shift to Efficient and Less Profitable Cars

Posted on 3 April 2012 by Ken Zino

One potentially negative result because of the downsizing and easier credit trends is declining profits at automakers. The shift to smaller vehicles—in addition to the increase in financially less-qualified new–vehicle buyers, who tend to be younger and with less money to spend—means the average transaction price for new vehicles has dropped substantially in the recent quarter. Continue reading →

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Chrysler, Ford and GM U.S. March Sales Continue Rebound

Posted on 3 April 2012 by Ken Zino

All of the Detroit Three continue to have weak spots as they face the resurgent Japanese and hard charging Korean automakers. However, all have critical car launches this year, which should keep the momentum going. One thing is becoming clearer as the year progresses – the offshore brands are coming back and the loyalty of their buyers remains as impressive as it remains a huge marketing challenge to the Detroit Three. Continue reading →

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