Tag Archives: results

General Motors Posts Q2 Earnings of $2.5 Billion. Most in N.A.

Virtually all of GM’s earnings – $2.2B – came from North America, a worrisome development for the most international of the Detroit 3, whose largest markets are China, followed by the United States, Brazil, the United Kingdom, Germany, Canada, and Italy.

Earnings were helped by booking revenue from pickup trucks shipped to North American dealers. GM built 516,000 light trucks in Q2, up 14% from a year earlier. Passenger car production increased 10% to 308,000. GM dealers currently have 209,000 pickups in stock – the equivalent of a 115 days supply in an industry that considers 60 days normal. Continue reading

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Korean Auto Sales Surge as Japanese Remain Sidelined

Korean auto sales increased sharply in July while Japanese automakers watched as depleted inventories once again cut into their normal sales levels. Korean automakers Hyundai and Kia posted huge gains and a record month. A combination of high fuel economy and low prices – helped by the Korean Won – saw double-digit sales gains at both automakers. Still, several questions remain about the ability of Korean automakers to continue to grow at the significant rates they have been achieving. Continue reading

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Chrysler Group U.S. July Sales up 20%. Best July in Four Years

The Chrysler, Jeep, and Dodge brands all posted year-over-year sales gains in July, while the Fiat brand registered a 68% increase – albeit only 3,000 units- compared with the previous month of June 2011. Chrysler Group’s car sales increased 28% in July to 28,000 vehicles while truck sales were up 18% at 84,000 units compared with the same month a year ago. Continue reading

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GM U.S. Sales Increase 8% in July. Cadillac off 26%

General Motors dealers in the United States sold 214,915 vehicles in July, an 8% sales gain compared to July 2010. Retail sales for GM’s brands rose 6% for the month compared to a year ago, and were 1% higher than June, as the U.S. economy continues to struggle with slow – or no growth – and high unemployment rates. Continue reading

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Toyota Posts FY Q1 Loss from Earthquake and Strong Yen

Toyota Motor Corporation (TMC) in Japan today said that operating income decreased from ¥211.6 billion to a loss of ¥108.0 billion, while income before income taxes was a loss of ¥80.5 billion yen. This was Toyota’s first quarterly loss in two years as Net income decreased from ¥190.4 billion yen to ¥1.1 billion. Operating income decreased by ¥319.6 billion yen. Continue reading

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Honda Q1 Barely Profitable as Earthquake Devastates Results

Honda’s automobile unit sales totaled 547,000 units, a decrease of 39.2% from the same period last year due to production disruptions in all regions from the Earthquake. Continue reading

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Ford Motor Q2 Profit Drops 8% to $2.4 Billion on $4.2 Billion Revenue Increase. Ford Credit, all Regions Except N.A. Decline

Ford’s second quarter net income was affected by so called “unfavorable special items” of $272 million – $177 million more than a year ago. The special items include personnel reduction actions as Ford continues to retrench. The closing of Mercury and other dealer-related actions in North America, as well as pension settlements in Belgium also negatively affected the results. Continue reading

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Passenger Car Sales Down in EU Again as Economy Struggles

However some winners are emerging. Volkswagen Group remains the powerhouse in Europe with 23% share year-to-date of the EU and European Free Trade Areas. BMW group also posted strong double digit gains, as did Nissan, although both are on relatively small basis. The same could be said for Hyundai and Kia, which now have combines sales of more than 345,000 units year-to-date, compared to Volvo’s 138,000. Continue reading

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Volkswagen Group Posts Record Sales for First Half of 2011

The Volkswagen Group said today that it delivered more vehicles in the first six months of 2011 than eve before. A total of 4.09 million vehicles were delivered from VW, Škoda, Seat, Audi, Bentley and Porsche to customers worldwide from January to June of this year. Continue reading

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European Brands Gain Momentum in U.S. Consumer Interest

Overall interest for domestic brands actually decreased by 4.4% while sales increased 1.9% during the second quarter of 2011 – which the NADA analysts think may be an indication that sales for the domestic brands may see a decrease in the near future. Consumer interest in Japanese brands increased by 1.8% in Q2, while sales numbers for the brands dropped 3.5% during the second quarter. Continue reading

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Toyota Europe Increases Sales. Delivery Waits Now Normal

Toyota Motor Europe (TME) reported half-year sales of 403,656, an increase of 3% compared to 2010. The results are good since the overall European market is flat year-to-date and has been declining for three years. The Toyota Auris family ( 3- and 5-door hatchbacks off the Corolla platform), including the Auris hybrid, saw sales of 55,222 vehicles, up 22% from 2010. Continue reading

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BMW Group Sales at Record for June and Six months

The BMW Group announced this morning in Munich that it delivered more vehicles in June than ever before in any month. A total of 165.855 BMW, Mini and Rolls-Royce brand vehicles were sold, which is an increase of +15.9% compared to sales in June last year (2010 – 143,156 units). Continue reading

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U.S. Auto Sales Decline in June as Shortages and Cautious Consumers Result in a Weak Market and Overall Economy

U.S. auto sales in June declined for the second straight month but increased 7% compared to an admittedly weak 2010. Earthquake induced inventory shortages at major Japanese automakers continued to be a major factor in sluggish sales even though marketing executives denied what could be the beginning of another recession. Continue reading

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Japan Auto Production -31% in May. Export Loses $2.89 Billion

The total value of automobiles exported for May 2011 was $6.76 billion, including $4.49 billion for vehicles and $2.27 billion for parts. This is a decrease of $2.89 billion or -30% compared with $9.65 billion for the same month of the previous year. Continue reading

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Nissan Announces Ambitious Global Growth Plan

Things are going to get better during the next five years for Nissan Motor Company, the Yokohama based automaker announced this morning. In unveiling what is an ambitious six year business plan, Japan’s number two automaker said that it will deliver on average an all-new vehicle every six weeks for six years. As a result, the company’s global portfolio will have 66 vehicles and will cover 92% of all markets and segments, Nissan claimed. Continue reading

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