Category Archives: financial results

Johnson Controls to Sell Power Solutions for $13.2 Billion

Johnson appears to be selling a profitable business unit with a bright future in order to bolster other businesses. Continue reading

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Magna International Posts Record Q3 Earnings

However, sales were slightly lower than we had anticipated, mainly due to lower than expected light vehicle production. Adjusted EBIT was below the comparable quarter in 2017 and was less than what Magna expected. After considering the impact of lower than anticipated volumes, the Power & Vision, Seating Systems and Complete Vehicles segments performed substantially in line with Magna expectations. Body Exteriors & Structures segment reported results below expectations, as a result of higher than anticipated launch costs and under-performance at certain facilities, largely offset by a favorable customer pricing resolution. Continue reading

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October Western European Passenger Car Sales Drop -7.3%

Given the persistence of falling sales in several key markets linked to WLTP-related disruptions, LMC now sees 2018 full-year growth of a mere 0.8%, a little lower than previously. In addition, with the prospects for economic growth now looking slightly weaker in some key markets, LMC have reduced the 2019 West European sales forecast in volume terms with YoY growth seen at, gulp. 0.9%. Continue reading

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Toyota 6 Month Financial Results – $11.29 Billion Net Income

Once again Toyota proved its operating prowess, which consistently place it in the running for the largest and mot profitable automaker in the world as it transforms itself into a mobility company to be reckoned with. Continue reading

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Ford Motor Q3 Net, EPS, EBIT – All Down as Ford Stumbles

Once again top Ford executives claimed they had a multi-year plan to fix things, but the same pledge has been going on since Ford 2000. Ford also said that because of the higher costs and uncertainty impacting the entire sector, coupled with unexpected deterioration this year in the Europe, Middle East and Africa, and China businesses, current company forecasts show that it will not reach its previously announced 8% EBIT margin or high teens ROIC targets by 2020. Another job-destroying reorganization in process. Continue reading

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GM Q3 Profits Ambush Analysts – Income $2.5 Billion EBIT

GM reported $2.5 billion in profits today at $1.75 per share, way beyond hapless analyst projections of $1.25 per-share earnings. Continue reading

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Ford Motor Creates Stand-Alone China Business to Stop Loses in Its Latest Asia Pacific Shakeup

The timing seems odd as Ford is entering a busy period of product renewal in China, including the current high-volume launches of the Ford Territory, Ford Focus and Ford Escort. It’s part of Ford China’s commitment to launch 50 new vehicles by 2025. Continue reading

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Group Renault Revenues of €11.5 billion in Q3 2018 or -6%

During Q3 2018, Group Renault revenues reached €11,484 million (-6.0%). At constant exchange rates, Group revenues decreased by -1.4%. Continue reading

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Death of The Diesel – Q3 Daimler Earnings Guidance Cut

Largely affected are Mercedes-Benz Cars and Daimler Buses divisions and for the Daimler Group. They are now running at a loss now running at a loss. Continue reading

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Brexit Panic Takes Hold. Auto Industry Urges – Begs? – Negotiators to Avert the Business Killing Worst-Case Scenario

Automobile production plants – be they in the EU27 or the UK – receive and fit millions of parts into vehicles every day. All manufacturers rely on ‘just-in-time’ and ‘just-in-sequence’ delivery and production, without any delays or obstacles. These parts are in constant transit in trucks, arriving as and when they are needed. Continue reading

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Penske Automotive Increases Dividend

“Our Board of Directors are pleased to offer our shareholders an increase in the quarterly dividend for the 30th consecutive quarter,” said Penske Automotive Group President Robert H. Kurnick, Jr. Continue reading

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Dieselgate – Audi Fines of ~$1 Billion hit Porsche Guidance. Porsche is Economical with the Truth on Ongoing Risks.

Porsche rules out however a spin off ala Ferrari that could value and independent company at more than $80 billion. The remaining outstanding fraud case from the noxious diesel emissions scandal is remains ongoing in Stuttgart, where state prosecutors are investigating the role Volkswagen’s sports car brand Porsche played in the sordid diesel affair. Continue reading

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Ford Motor Company Q4 Dividend Remains $0.15

While the F-Series exceeded the 70,000-truck mark for the seventh straight month, selling 75,092 pickups in September, year-to-date the F-Series was down -8.8% in September and up 3% year-over year to date. Still, transaction pricing is running at record levels of $46,600 per truck, up $1,000 over a year ago. Super Duty transaction pricing totaled a record $59,100 per truck in September. How long can this last? Continue reading

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NAFTA Lite – US-Mexico-Canada Agreement Hurts US Workers

Roughly 30% of the 2.33 million vehicles imported to the U.S. from Mexico in 2017 don’t meet the current 62.5% content requirement. Continue reading

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Saudi’s to Finance Lucid EV

The deal claims to represent a major milestone for Lucid. It will provide it with the necessary funding to commercially launch its first electric vehicle, the Lucid Air in 2020. Continue reading

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