Category Archives: financial results

RumbleOn Posts 2019 Loss. Cancels Guidance

Executive summary from AutoInformed: RumbleOn has ambitious plans with more than $840 million in revenue in 2019, but what is arguably a national brand is facing the ongoing contraction (collapse?) of the U.S. economy. Continue reading

Posted in financial results, news analysis | Tagged , , , , , , | Leave a comment

LMC Automotive Now Projects Double the Decline of the Great Recession in Light Vehicle Sales During 2020

LMC currently is forecasting 2020 global Light Vehicle sales to fall below 77 million units, a decline of nearly 14 million units or -15% from the 2019 level. For comparison, global Light Vehicle sales fell 6 million units from 2007-2009 to 64 million units, a two-year decline of 8.7%, or 4.5% CAGR. Continue reading

Posted in economy, environment, financial results, manufacturing, news analysis, sales | Tagged , , , , , | Leave a comment

General Motors Draws Down Credit Lines in COVID-19 Fight

This increases GM’s cash position and preserves financial flexibility in light of current uncertainty in global markets resulting from the COVID-19 pandemic. The funds will supplement the company’s cash position of approximately $15 billion to $16 billion expected at the end of March. Continue reading

Posted in financial results | Tagged , , , , | Leave a comment

Ford Motor Maxes Out Lines of Credit

The cash from these borrowings will be used to offset the temporary working capital impacts of the coronavirus-related production shut downs and to preserve Ford’s financial flexibility. Continue reading

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

Volkswagen Group Closes 2019 Books

The spread of coronavirus is currently impacting the global economy. It is uncertain how severely or for how long this will also affect the Volkswagen Group. Currently, it is almost impossible to make a reliable forecast. Continue reading

Posted in financial results, sales | Tagged , , , , , , , | Leave a comment

SEC Sets Guidelines for Virtual Annual Shareholder Meetings

Affected parties can announce in filings made with the SEC the changes in the meeting date or location or the use of “virtual” meetings without incurring the cost of additional physical mailing of proxy materials.  Continue reading

Posted in economy, environment, financial results | Tagged , , , , , | Leave a comment

Porsche Proposes 41% Dividend Rise at May Annual Meeting

The increase in Porsche SE’s proposed dividend is disproportionately higher than the increase in result. This growth come from the dividend proposal of Volkswagen AG, which increased the payout rate to 24.5%, after 20.4% in the prior year. Continue reading

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

Daimler Postpones Annual Shareholders’ Meeting

Daimler said in a statement just issued that the worldwide spread of the coronavirus ( aka COVID-19 or SARS-CoV-2) as well as The Robert Koch Institute and the responsible health authorities in Germany are assuming that the number of infections will increase significantly in the coming weeks. Continue reading

Posted in environment, financial results, people | Tagged , , , , , | Leave a comment

National Debt Projections – Off the Chart Before COVID-19

Debt held by the public is a measure that indicates the extent to which federal borrowing affects the availabil­ity of private funds for other borrowers. All else being equal, an increase in government borrowing reduces the amount of money available to other borrowers, putting upward pressure on interest rates and reducing private investment. It is the measure of debt most often used by CBO in its reports on the budget. The cost of growing debt increases the finance payments of new and used vehicles. Continue reading

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

Trump Deficit Growing: $625 Billion FYTD – $80B Higher YoY

Net interest on the public debt rose by $5 billion (or 17%), mostly because of a different rate of inflation. Continue reading

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

US Trade Deficit Continues at $45 Billion a Month

The drop in imports portends shortages, which could harm both consumer and business spending. The coronavirus epidemic has upset businesses and production in China, with an extension of  the Lunar Year holidays cutting output in an effort by the Chinese government to constrain its spread. This likely will be repeated in the US economy as the epidemic spreads here. It’s too soon to see the potential negative effects on the auto industry, but disruptions are likely given China, South Korea and Mexican trade in automotive goods. Continue reading

Posted in economy, financial results, manufacturing | Tagged , , , , , , | 1 Comment

Volkswagen Group Posts 2019 Profit Despite Diesel Charges

The earnings announcement on Friday came with an agreement to pay 830 million euro ($912 million) in damages to hundreds of thousands of customers whose diesel cars were outfitted with software that illegally falsified emissions readings. Continue reading

Posted in environment, financial results, fuel economy or emissions, results | Tagged , , , , , | 1 Comment

Wells Fargo to Pay $500 Million for Misleading Investors

Wells Fargo has agreed to pay $500 million to settle the charges, which will be returned to investors. The $500 million payment is part of a combined $3 billion settlement with the SEC and the Department of Justice. Continue reading

Posted in financial results, fools 'n frauds, litigation | Tagged , , , , , | Leave a comment

Daimler Facing Profit and Sales Declines Reorganizes

“This will have a negative impact on our earnings in 2020 and 2021. To remain successful in the future, we must therefore act now and significantly increase our financial strength.” Continue reading

Posted in engineering, financial results, mobility company, news analysis | Tagged , , , , , , , , | 1 Comment

Ford Motor Changes Top Exec Roles Again

The changes come as Ford is restructuring operations, investing in the product portfolio and reducing bureaucracy. Ford lost $1.7 billion (42 cents a share) during Q4 2019 compared to a loss of $100 million, or 3 cents a share, year-over-year.  This  included a previously disclosed $2.2 billion charge for underfunded pensions. Adjusted for one-time items, Ford said it gained 12 cents a share during the year, compared with 30 cents a share a year ago. Revenue fell 5% to $39.7 billion from $41.8 billion a year ago. Global sales, share, earnings, and profits all decreased. Continue reading

Posted in financial results, mobility company, people | Tagged , , , , | Leave a comment