Category Archives: financial results

SEAT Sets Profit Record of €143m in 2016

Worldwide sales were nearly 410,000 vehicles. SEAT is a member of the Volkswagen Group, the multinational has its headquarters in Martorell (Barcelona), exporting 81% of its vehicles in over 80 countries through a network of 1,700 dealerships. Continue reading

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Daimler at China Development Forum – Pure Money, Politics

In China, through its government-dictated cooperation with local partners, China continued to be the largest individual sales market globally for Mercedes-Benz Cars in 2016. Continue reading

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General Motors Sells Opel/Vauxhall to PSA Group for €2.2B

he deal includes all of Opel/Vauxhall’s automotive operations, comprising Opel and Vauxhall brands, six assembly and five component-manufacturing facilities, one engineering center (Rüsselsheim, Deutschland) and approximately 40,000 employees. GM will retain the engineering center in Torino, Italy. Continue reading

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GM to Announce Sale of Opel/Vauxhall this Monday with Investors’ Call and a Press Conference

If the deal goes through, it would mean GM’s presence in Europe would be limited to niche sales of Cadillac, and Chevrolet Camaro and Corvette models – all of them exports. PSA is the third largest automaker in Europe behind Renault. Volkswagen Group leads in Europe PSA Group’s sales were 1,930,000 vehicles and increased by 3.6% in 2016. In 2016, global sales increased by 5.8%, to 3,146,000 units. Continue reading

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Win, Win? GM to Sell Opel to PSA

The combined volume of the groups could exceed current second-placed Renault-Nissan but would still be well short of market leader VW group. Continue reading

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General Motors Posts Record 2016 Results

General Motors (NYSE: GM) today announced record full-year 2016 results from strong retail demand for full-size trucks and SUVs in the United States, continued industry growth in China and what it termed as “effective cost performance across the globe.” I Continue reading

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Ford Motor Says 2017 Profit Will be Lower Than 2016

The bad news is that the ongoing increase of incentives, longer loan terms, growing sub-prime lending – including on trucks – and the fact Ford can’t give away a car in the U.S. is potentially troubling. Helped by incentives of more than $8,000 at year end, the Ford F-Series pickup retained its title as the best-selling vehicle in the land at 820,799. Predicting lower performance for 2017 is a warning that won’t help Ford’s weak share price. Continue reading

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2017: General Motors Bullish – More Stock Buybacks

GM’s 2017 outlook is based on – what else – an expected strong performance in North America and China, growth of GM Financial, continued cost efficiencies, improvement in South America and an ongoing vehicle launch cadence. Continue reading

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Ghosn Defends Mitsubishi Bailout in Face of Criticism

Call it a “one barrel of a two-barrel shotgun wedding.” This is a giant roll of the dice with Carlos Ghosn betting on numerous “come” lines. Continue reading

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General Motors President Daniel Ammann Sells 10,000 Shares

While GM execs have been trying to talk up the stock price, the trading record is much less optimistic. The range of share prices peaked at more than $40 per share in December of 2013, but has been languishing in the $35 range recently. Continue reading

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Record Number of Auto Buyers Underwater on Trade-Ins

A growing number of auto shoppers have negative equity – underwater in industry terms – on their trade-ins when they’re purchasing their next vehicle. Per Edmunds data, an estimated 32% of all trade-ins toward the purchase of a new vehicle through Q3 of 2016 were underwater. Continue reading

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Strong Yen Hurts Toyota Motor Profits as Sales Rise

Nevertheless, TMC’s Board of Directors agreed to pay 100 yen per share as the interim dividend on common shares, and have also resolved to buy back up to 200 billion yen, or 40 million shares, of the company’s common stock. Continue reading

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Nissan First Half Results Down Due to Strong Yen

Nissan Motor Co. today announced financial results for the six-month period to 30 September 30 2016 that showed decreased revenue and operating profit because of the strong Yen. Continue reading

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Diesel Emission Fraud Charges Hit Volkswagen Group Profits

Gentlefolks Chief Financial Officer Frank Witter said, “The impact of the diesel issue, in particular, required a systematic, disciplined approach to investments and costs. But further significant improvements in productivity and profitability are needed across the whole Group.” Continue reading

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Penske Automotive Reports Record Q3 Results

Our business continued to perform well in the third quarter, producing another quarter of record results despite the translation effects from foreign currency headwinds,” said Penske Automotive Group Chairman Roger S. Penske. Continue reading

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