Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Mazda books first yearly profit in half-decade, NA still a drag]]>http://www.autoblog.com/2013/04/30/mazda-books-first-yearly-profit-in-half-decade-na-still-a-drag/http://www.autoblog.com/2013/04/30/mazda-books-first-yearly-profit-in-half-decade-na-still-a-drag/http://www.autoblog.com/2013/04/30/mazda-books-first-yearly-profit-in-half-decade-na-still-a-drag/#commentsFiled under: ,

2013 Mazda6 Sedan

Automotive News reports Mazda has posted its first annual profit in five years. The company made $364.3 million in the last fiscal year, following a $1.14 billion loss the year prior. Operating profit also jumped up by $91.3 million to $572.8 million, thanks in part to a revenue increase of 8 percent to $23.42 billion.

But the news isn't all rays of sunshine. North America continues to be a problem for Mazda where the automaker posted yet another loss. The manufacturer lost $519.1 million last year, up from $427.8 million the year prior. While the launch of the CX-5 helped see US sales increase by 2 percent to 273,000 vehicles, the region as a whole bought up 372,000 units. Mazda had predicted closer to 380,000 units.

Even so, Mazda says it should have North America back in the black by next year, with the company forecasting a sales increase of 11 percent to 415,000 units in the region. That's thanks in part to a boost from the redesigned Mazda6 sedan.

Mazda books first yearly profit in half-decade, NA still a drag originally appeared on Autoblog on Tue, 30 Apr 2013 11:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsmazdamazda profitprofitTue, 30 Apr 2013 11:00:00 EST http://www.autoblog.com/feed/20551893/article-comments.xml http://www.autoblog.com/feed/2013/04/30/mazda-books-first-yearly-profit-in-half-decade-na-still-a-drag/20551893/article-detail.xml 20551893 http://www.blogcdn.com/www.autoblog.com/media/2013/04/mazda6-sedan-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/04/mazda6-sedan-628.jpg <![CDATA[Toyota profits up 23% on high US sales, despite mounting legal costs]]>http://www.autoblog.com/2013/02/05/toyota-profits-up-23-on-high-us-sales-despite-mounting-legal-c/http://www.autoblog.com/2013/02/05/toyota-profits-up-23-on-high-us-sales-despite-mounting-legal-c/http://www.autoblog.com/2013/02/05/toyota-profits-up-23-on-high-us-sales-despite-mounting-legal-c/#commentsFiled under: , , , ,

Toyota Badge

Toyota earned $9.3 billion in net income in the financial year that ends next month. The number beats earlier forecasts and marks a five-year high for the automaker, with both operating income and revenue up by 9.5 percent and 2.5 percent, respectively. Toyota saw quarterly profit enjoy a year-on-year jump of 23.4 percent, with the manufacturer earning more than $1 billion between October and December 2012. The good news comes in spite of the fact that the Japanese automaker actually endured an operating loss in North America, due in part to legal fees.

Toyota is set to pay more than $1 billion to owners who claim their vehicles decreased in value as a result of the company's recent spate of recalls. Even so, all three of the automaker's brands enjoyed a 13.5 percent sales increase in the US in the last quarter, beating the industry average. Toyota faltered in Europe, however, where it earned $99 million in operating profit last year, compared to $111 million in 2011. You can take a closer look at the company's full press release below for more information.

Continue reading Toyota profits up 23% on high US sales, despite mounting legal costs

Toyota profits up 23% on high US sales, despite mounting legal costs originally appeared on Autoblog on Tue, 05 Feb 2013 18:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningslexussciontoyotatoyota 2012 earningstoyota earningsTue, 05 Feb 2013 18:01:00 EST http://www.autoblog.com/feed/20449055/article-comments.xml http://www.autoblog.com/feed/2013/02/05/toyota-profits-up-23-on-high-us-sales-despite-mounting-legal-c/20449055/article-detail.xml 20449055 http://www.blogcdn.com/www.autoblog.com/media/2013/02/toyota-badge-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/02/toyota-badge-628.jpg <![CDATA[Ford nets $5.7B in 2012, $1.6B in fourth quarter]]>http://www.autoblog.com/2013/01/29/ford-nets-5-7b-in-2012-1-6b-in-fourth-quarter/http://www.autoblog.com/2013/01/29/ford-nets-5-7b-in-2012-1-6b-in-fourth-quarter/http://www.autoblog.com/2013/01/29/ford-nets-5-7b-in-2012-1-6b-in-fourth-quarter/#commentsFiled under: , ,

Ford Grille

Ford brought in $5.7 billion in net income during 2012, which is around $307 million less than one year prior. Even so, the automaker closed out 2012 with the highest pre-tax profit for a single quarter in nearly 10 years, earning $1.7 billion in the fourth quarter thanks largely to a higher-than-average truck mix in the US. That's a jump of $577 million over 2011. Likewise, that translated into fourth quarter income of $1.6 billion. All told, Ford set a full-year pre-tax profit record in 2012. But that doesn't necessarily mean everything is rosy in the land of the Blue Oval.

Like every other manufacturer, 2012 saw Ford get hammered in the European Union, where a deep economic recession continues to drive down consumer confidence. The automaker lost more than $700 million in Europe, and saw full revenue of $26.6 billion in 2012. That's a decline of $7.2 billion compared to last yea. Ford says the market for new vehicles in Europe has contracted to 13.5 million units, the lowest number in 17 years. You can read the full press release below for more information.

Continue reading Ford nets $5.7B in 2012, $1.6B in fourth quarter

Ford nets $5.7B in 2012, $1.6B in fourth quarter originally appeared on Autoblog on Tue, 29 Jan 2013 14:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2012 ford earningsearningseuropean unionfinancialsfordford earningsford europeford financialsTue, 29 Jan 2013 14:30:00 EST http://www.autoblog.com/feed/20441859/article-comments.xml http://www.autoblog.com/feed/2013/01/29/ford-nets-5-7b-in-2012-1-6b-in-fourth-quarter/20441859/article-detail.xml 20441859 http://www.blogcdn.com/www.autoblog.com/media/2013/01/ford-grille-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/01/ford-grille-628.jpg <![CDATA[European banks downgrade Fiat, share prices tumble]]>http://www.autoblog.com/2012/11/23/european-banks-downgrade-fiat-share-prices-tumble/http://www.autoblog.com/2012/11/23/european-banks-downgrade-fiat-share-prices-tumble/http://www.autoblog.com/2012/11/23/european-banks-downgrade-fiat-share-prices-tumble/#commentsFiled under: , , ,



Shares of Chrysler parent company Fiat SpA fell by 5.9 percent on Tuesday. Two European banks downgraded the company's stock, with UBS AG dropping the company's stock from a "buy" rating to "neutral." Likewise, Deutsche Bank cut the company's shares from "hold" to "sell" amid concerns that the company will need a new cash infusion to fund CEO Sergio Marchionne's plans for the automaker. Marchionne has made it clear he plans to purchase the remainder of Chrysler, which will require Fiat to raise somewhere between 1.6 billion and 2.9 billion euros. That's due in part to the fact that the company may have to start paying fair-market value for Chrysler stock as the company's initial public offer grows near.

Bloomberg reports Marchionne is keen to increase the Fiat stake in Chrysler in order to access the profitable North American manufacturer's cash flow. Fiat could then use those funds to jump start its ailing European operations, though Marchionne has been quoted as saying Fiat doesn't need Chrysler's cash to bring its EU business in line. Last quarter, Fiat reported 20 billion euros of available liquidity, down from 22.7 billion euros at the end of June.

European banks downgrade Fiat, share prices tumble originally appeared on Autoblog on Fri, 23 Nov 2012 09:56:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chryslerchrysler stockearningsfiatsergio marchionneFri, 23 Nov 2012 09:56:00 EST http://www.autoblog.com/feed/20385698/article-comments.xml http://www.autoblog.com/feed/2012/11/23/european-banks-downgrade-fiat-share-prices-tumble/20385698/article-detail.xml 20385698 http://www.blogcdn.com/www.autoblog.com/media/2012/11/sergio-marchionne-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/11/sergio-marchionne-628.jpg <![CDATA[GM profits down 14% in Q3]]>http://www.autoblog.com/2012/10/31/gm-profits-down-14-in-q3/http://www.autoblog.com/2012/10/31/gm-profits-down-14-in-q3/http://www.autoblog.com/2012/10/31/gm-profits-down-14-in-q3/#commentsFiled under: ,



General Motors reported its third-quarter earnings today, and while revenues were up in the three-month period, overall profits were down 14 percent compared to last year. GM's Q3 net revenue was $37.6 billion (almost $1 billion more than 2011), but its net income was $1.5 billion, down from $1.7 billion last year. This is the opposite trend from Chrysler and Ford, which were both up considerably.

According to Automotive News, GM's lower profit came from a combination between the flailing European car market and the increased production of small cars. Losses in Europe grew from $292 million in Q3 2011 to $478 million in Q3 2012, and since 1999, GM has lost more than $17 billion in this market. Also, with new cars like the Chevy Sonic and Spark growing in popularity, these smaller cars have less of a profit margin than GM's SUV cash cows, but the improvements in small cars is helping in markets such as South America.

The South American market has recovered from previous losses to give GM a $114 million profit last quarter, and these numbers are expected to continue climbing thanks to new vehicles like the all-new Chevrolet Onix unveiled last week at the São Paulo Motor Show in Brazil. Another bright spot for GM was that its pension liability dropped by $29 billion thanks to about 30 percent of salaried retirees in the US accepting a lump-sum payment; both figures are higher than GM initially expected.

Continue reading GM profits down 14% in Q3

GM profits down 14% in Q3 originally appeared on Autoblog on Wed, 31 Oct 2012 12:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>car salesearningsgeneral motorsgmgm earningsq3third quarterWed, 31 Oct 2012 12:59:00 EST http://www.autoblog.com/feed/20366478/article-comments.xml http://www.autoblog.com/feed/2012/10/31/gm-profits-down-14-in-q3/20366478/article-detail.xml 20366478 http://www.blogcdn.com/www.autoblog.com/media/2012/10/gm-rencen_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/10/gm-rencen.jpg <![CDATA[Ford up $1.6B in Q3 thanks to record profits in North America]]>http://www.autoblog.com/2012/10/30/ford-up-1-6b-in-q3-thanks-to-record-profits-in-north-america/http://www.autoblog.com/2012/10/30/ford-up-1-6b-in-q3-thanks-to-record-profits-in-north-america/http://www.autoblog.com/2012/10/30/ford-up-1-6b-in-q3-thanks-to-record-profits-in-north-america/#commentsFiled under: ,



Now that the bell has rung to signal the end of Q3 2012, Ford is standing in the ring with both hands in the air like Rocky: The company's overall profit of $1.63 billion for the last three months is nearly equal to its entire 2011 total of $1.94B. Those numbers come thank to the record-breaking pretax operating profit in North America of $2.33B on revenues of $19.5B, the third straight quarter that The Blue Oval has crossed the two-billion mark. Customers are paying more, on average, for Ford vehicles, another contributor to the company maintaining double-digit profit margins on its products.

True, there are a couple of bruises. Losses in Europe continue, with The Continent suffering an even larger decline in pretax revenues to $468 million, and European revenue has dropped to $5.8 billion compared to $7.8 billion a year ago. South America is another sore spot, with exchange rates and currency restrictions being blamed for a 23-percent decline in revenue to $2.3 billion and a screeching 97-percent shrinkage in pretax operating profit to $9 million, down from $276 million in the same quarter last year. Global revenue is also down three percent to $32.1 billion.

But North America's numbers have kept the tide rising, even with the rise in the company's North American tax rate to 30 percent, a 20-percent jump over last year. Ford's prognosis for the rest of the year is for strong results and even greater production - 1.5 million in Q4 versus 1.4 million in Q3 - even with expanded costs to market the new models it is introducing as well as continued challenges in Europe. That means great news for two of our three domestic automakers, following the Chrysler announcement of an 80-percent jump in Q3 profit to $381 million. General Motors will report tomorrow. For the inner CFO in you, Ford's number-filled press release is below.

Continue reading Ford up $1.6B in Q3 thanks to record profits in North America

Ford up $1.6B in Q3 thanks to record profits in North America originally appeared on Autoblog on Tue, 30 Oct 2012 15:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>car salesearningsfordford earningsford motor companyq3Tue, 30 Oct 2012 15:20:00 EST http://www.autoblog.com/feed/20365143/article-comments.xml http://www.autoblog.com/feed/2012/10/30/ford-up-1-6b-in-q3-thanks-to-record-profits-in-north-america/20365143/article-detail.xml 20365143 http://www.blogcdn.com/www.autoblog.com/media/2012/10/fordresultsq3_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/10/fordresultsq3.jpg <![CDATA[Chrysler posts $381 million Q3 net profit]]>http://www.autoblog.com/2012/10/30/chrysler-posts-381-million-q3-net-profit/http://www.autoblog.com/2012/10/30/chrysler-posts-381-million-q3-net-profit/http://www.autoblog.com/2012/10/30/chrysler-posts-381-million-q3-net-profit/#commentsFiled under: , ,

Chrysler Headquarters Pentastar window glass

Chrysler reports that its vehicle sales jumped by 12 percent in the third quarter over the same period in 2011. That step up was enough to bump profits by 80 percent to $381 million on $15.5 billion of net revenue. Moving forward, the automaker expects to see fourth-quarter profit of $210 million, which should help the company realize its forecast of $1.5 billion of net profit for the year. Reuters reports Chrysler CEO Sergio Marchionne expects the automaker's free cash flow for 2012 to be "well in excess" of $1 billion.

Over the same period, the smallest of the Big Three laid claim to an 11.3-percent slice of the domestic market, thanks largely to a 16-percent jump in US retail sales. More importantly, the manufacturer's net industrial debt now sits at $693 million, down from $2.2 billion one year ago. You can check out the full press release below for more information.

Continue reading Chrysler posts $381 million Q3 net profit

Chrysler posts $381 million Q3 net profit originally appeared on Autoblog on Tue, 30 Oct 2012 14:41:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chryslerchrysler earningsearningsmarchionneq3sergio marchionnethird quarterTue, 30 Oct 2012 14:41:00 EST http://www.autoblog.com/feed/20365009/article-comments.xml http://www.autoblog.com/feed/2012/10/30/chrysler-posts-381-million-q3-net-profit/20365009/article-detail.xml 20365009 http://www.blogcdn.com/www.autoblog.com/media/2012/10/chrysler-hq-pentastar_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/10/chrysler-hq-pentastar.jpg <![CDATA[Subaru raises forecast on strong US transaction prices]]>http://www.autoblog.com/2012/10/25/subaru-raises-forecast-on-strong-us-transaction-prices/http://www.autoblog.com/2012/10/25/subaru-raises-forecast-on-strong-us-transaction-prices/http://www.autoblog.com/2012/10/25/subaru-raises-forecast-on-strong-us-transaction-prices/#commentsFiled under: , , ,

Subaru Emlem

Fuji Heavy Industries has raised its projected operating profit for the next six months due to higher transaction prices for its Subaru vehicles in the US, according to Reuters. Subaru sales jumped by 27 percent between April and September, thereby exceeding the manufacturer's early estimates. Much of that gain came without heavy incentives, which helped FHI increase its earnings estimates for the first half of the fiscal year from $401 million to $539 million, a bump of 34 percent.

The news comes in spite of the fact that Subaru saw its sales drop by 64 percent in China, due in part to strong anti-Japanese sentiments that recently swept the country. China accounts for around seven percent of total Subaru sales.

In addition, the report indicates overall Subaru sales worldwide were below forecasts. Expect to hear more detail on that situation once the automaker releases its second quarter earnings next week.

Subaru raises forecast on strong US transaction prices originally appeared on Autoblog on Thu, 25 Oct 2012 08:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsfuji heavy industriesfuji heavy industries earningssubarusubaru earningsThu, 25 Oct 2012 08:45:00 EST http://www.autoblog.com/feed/20358246/article-comments.xml http://www.autoblog.com/feed/2012/10/25/subaru-raises-forecast-on-strong-us-transaction-prices/20358246/article-detail.xml 20358246 http://www.blogcdn.com/www.autoblog.com/media/2012/10/subaru-emblem-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/10/subaru-emblem-628.jpg <![CDATA[Toyota to best GM's profit]]>http://www.autoblog.com/2012/05/08/toyota-to-best-gms-profit/http://www.autoblog.com/2012/05/08/toyota-to-best-gms-profit/http://www.autoblog.com/2012/05/08/toyota-to-best-gms-profit/#commentsFiled under: , ,

Toyota logoToyota has had some recent setbacks, what with last year's natural disasters and its lengthy recall problems. But according to Bloomberg, the carmaker is back on track, and is expected to post its largest profit in five years. Toyota reports financial results for its fiscal year tomorrow, and is expected to forecast a $10 billion net income, which would put Toyota ahead of General Motors in earnings, according to the report.

The Japanese automaker is expected to forecast a 12 percent sales growth for next year, which would make it the largest global carmaker by revenue, though Volkswagen is expected to lead in earnings. Bloomberg reports that Toyota's 2012 calendar year sales are expected to increase 21 percent, to 9.58 million units, which would be a record for the automaker. Toyota shares on the Tokyo stock exchange are up 22 percent for the year.

Toyota to best GM's profit originally appeared on Autoblog on Tue, 08 May 2012 18:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsgmprofitstoyotatoyota profitTue, 08 May 2012 18:02:00 EST http://www.autoblog.com/feed/20233868/article-comments.xml http://www.autoblog.com/feed/2012/05/08/toyota-to-best-gms-profit/20233868/article-detail.xml 20233868 http://www.blogcdn.com/www.autoblog.com/media/2012/05/toyota-logo-250_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/05/toyota-logo-250.jpg <![CDATA[GM Europe headed for another restructuring after disappointing losses]]>http://www.autoblog.com/2012/05/03/gm-europe-headed-for-another-restructuring-after-disappointing-l/http://www.autoblog.com/2012/05/03/gm-europe-headed-for-another-restructuring-after-disappointing-l/http://www.autoblog.com/2012/05/03/gm-europe-headed-for-another-restructuring-after-disappointing-l/#commentsFiled under: , , ,

Opel dealership

General Motors is having a hard time nailing down its European operations. The automaker reported its first-quarter earnings slid by $1 billion, down from $3.2 billion in the first quarter of last year. The drop was partially attributable to a one-time loss that included changes in accounting for the automaker's European pensions.

While GM earned $1.69 billion in North American before taxes, Opel lost $246 million in the first quarter. Surprisingly, that marks the second best quarter for the automaker in a year. Even so, GM CEO Dan Akerson said that the manufacturer's European operations are headed for substantial revision.

Akerson said the situation is a "four-alarm fire" while speaking during a public radio interview. The executive declined to elaborate on any plans to help stem Opel's losses beyond saying "We're going to have to restructure again."

In 2011, GM lost $747 million on its European operations, and with the looming debt crisis continuing to undermine consumer confidence in the EU, the company is desperate to ward off a repeat performance. Analysts believe that yet another restructuring will be a lengthy, drawn-out process, but likely won't result in any actual plant closings.

GM Europe headed for another restructuring after disappointing losses originally appeared on Autoblog on Thu, 03 May 2012 17:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dan akersonearningsgeneral motorsgmgm earningsgm europe restructuringopelopel restructuringrestructuringThu, 03 May 2012 17:31:00 EST http://www.autoblog.com/feed/20230174/article-comments.xml http://www.autoblog.com/feed/2012/05/03/gm-europe-headed-for-another-restructuring-after-disappointing-l/20230174/article-detail.xml 20230174 http://www.blogcdn.com/www.autoblog.com/media/2012/05/opel-dealership_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/05/opel-dealership.jpg <![CDATA[Ford books $1.4B, profits dragged down by Europe and Asia]]>http://www.autoblog.com/2012/04/27/ford-books-1-4b-profits-dragged-down-by-europe-and-asia/http://www.autoblog.com/2012/04/27/ford-books-1-4b-profits-dragged-down-by-europe-and-asia/http://www.autoblog.com/2012/04/27/ford-books-1-4b-profits-dragged-down-by-europe-and-asia/#commentsFiled under: , , ,



What a difference a few years make. Back in 2009, Ford Motor Company's North American operations were dragging down its earnings. The company reported a net loss of $1.4 billion in that year's first quarter when market share in the U.S. was falling but rising overseas. The situation today, however, is the mirror opposite.

Today Ford reported a first-quarter net income for 2012 of $1.4 billion on the strength of sales in the States. While that's a 180-degree turnaround compared to the same quarter in 2009, it's still a decline in earnings compared to the $2.6 billion earned just last year. This time, however, the blame for the fall lies with Ford's operations in Europe and Asia.

In Europe, Ford reported an operating loss this quarter of $149 million, blaming the continent's shrinking markets and weaker demand for parts and accessories. The company's Asian operations reported an operating loss of $95 million, which can be attributed more to investments in new plants for increased production than shrinking sales. Ford attributes the rest of its losses during the first quarter to higher tax expenses and special charges.

Fortunately, Ford's North American operations were able to offset most of the company's losses elsewhere. The region reported a pre-tax operating profit of $2.1 billion, up from $1.8 billion last year and the highest quarterly profit here since 2000. Revenue in this region alone was $18.6 billion, up $700 million from the same quarter last year and the largest chunk of the automaker's global quarterly revenue of $32.4 billion, which was down $700 million.

Continue reading Ford books $1.4B, profits dragged down by Europe and Asia

Ford books $1.4B, profits dragged down by Europe and Asia originally appeared on Autoblog on Fri, 27 Apr 2012 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsfirst quarter 2012fordford earningsford motor companyford profitsford stocklossprofitq1 2012quarter 1 2012Fri, 27 Apr 2012 10:30:00 EST http://www.autoblog.com/feed/20225761/article-comments.xml http://www.autoblog.com/feed/2012/04/27/ford-books-1-4b-profits-dragged-down-by-europe-and-asia/20225761/article-detail.xml 20225761 http://www.blogcdn.com/www.autoblog.com/media/2012/04/ford-logo-wall_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/ford-logo-wall.jpg <![CDATA[Volkswagen more than doubles profit with 15% sales gain in 2011]]>http://www.autoblog.com/2012/02/27/volkswagen-more-than-doubles-profit-with-15-sales-gain-in-2011/http://www.autoblog.com/2012/02/27/volkswagen-more-than-doubles-profit-with-15-sales-gain-in-2011/http://www.autoblog.com/2012/02/27/volkswagen-more-than-doubles-profit-with-15-sales-gain-in-2011/#commentsFiled under: , ,

Volkswagen Emblem

Volkswagen is making progress in its quest to be the one automaker to rule them all. According to The Detroit Bureau, Volkswagen saw profits more than double last year as sales increased by 14.7 percent. All told, the company earned $20.5 billion in 2011, up from $9.1 billion the year prior. The profit figure is well ahead of what industry analysts predicted for the German automaker. Total revenue is up by 26 percent as well, which is around two percent more than forecasters calculated.

It's worth noting that a fair chunk of the automaker's earnings were due to the ongoing merger battle between Volkswagen and Porsche. Last year, Porsche attempted a raid on Volkswagen stock in an attempt to take over the larger company before Volkswagen had a chance to swallow the smaller manufacturer whole. The effort failed, however, and while Porsche is now facing down multiple lawsuits as a result of the company's stock assault, Volkswagen enjoyed a swell in pre-tax profits last year - 18.93 billion euros in 2011. In 2010, the automakers pre-tax profits were 8.99 billion euros.

Volkswagen more than doubles profit with 15% sales gain in 2011 originally appeared on Autoblog on Mon, 27 Feb 2012 09:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsprofitsvolkswagenvolkswagen earningsvolkswagen profitsMon, 27 Feb 2012 09:29:00 EST http://www.autoblog.com/feed/20179774/article-comments.xml http://www.autoblog.com/feed/2012/02/27/volkswagen-more-than-doubles-profit-with-15-sales-gain-in-2011/20179774/article-detail.xml 20179774 http://www.blogcdn.com/www.autoblog.com/media/2012/02/volkswagen-emblem-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/02/volkswagen-emblem-628.jpg <![CDATA[GM reports 2011 profit of $7.6 billion]]>http://www.autoblog.com/2012/02/16/gm-reports-2011-profit-of-7-6-billion/http://www.autoblog.com/2012/02/16/gm-reports-2011-profit-of-7-6-billion/http://www.autoblog.com/2012/02/16/gm-reports-2011-profit-of-7-6-billion/#commentsFiled under:

GM logo

General Motors today reported its earnings for last year and the fourth fiscal quarter of 2011. The automaker's profits for 2011 totaled $7.6 billion, up from $4.7 billion in 2010.

While the news was excellent for the full year, fourth quarter net income was only $472 million, or about the same as Q4 2010. While that makes eight straight quarters of positive numbers since the company emerged from bankruptcy in 2009, the earnings were weighed down by losses of $562 million in Europe from GM's Opel subsidiary.

There were also a number of one-time events that affected earnings in the fourth quarter, without which GM's profit would've nearly doubled to $900 million.

Still, the company counts 2011 as a successful year, and the stats tend to agree. TrueCar.com reports that GM increased its sales by over 13 percent, increased market share by half a point, grew average transaction prices by over $1,100 and lowered incentive spending by five percent. Based on that performance, all 47,500 hourly employees will receive profit sharing checks of up to $7,000. Check out The General's official press release after the jump.

Continue reading GM reports 2011 profit of $7.6 billion

GM reports 2011 profit of $7.6 billion originally appeared on Autoblog on Thu, 16 Feb 2012 09:35:00 EST. Please see our terms for use of feeds.

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Chrysler headquarters

Good news has been in abundant supply for the domestic automakers the last twelve months, and nowhere is that more evident than in the headline to this press release: "Chrysler Group Reports Full Year 2011 Net Income of $183 Million." Now, $183 million isn't exactly a king's ransom in the auto industry (or elsewhere - Apple made $25.92 billion last year). But if Chrysler is making money again for the first time since emerging from bankruptcy, well, perhaps the U.S. auto industry has finally recovered from 2009.

The smallest of the Big Three automakers reported sales of 1,369,114 vehicles in 2011, up 26 percent from 2010. Chrysler led all automakers in percentage sales gains last year, and finished fourth in U.S. sales, behind General Motors, Ford and Toyota. To read the full press release, click past the jump.

Continue reading Chrysler posts $183M profit for 2011

Chrysler posts $183M profit for 2011 originally appeared on Autoblog on Wed, 01 Feb 2012 18:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bailoutchryslerchrysler bankruptcychrysler earningschrysler financialschrysler profitearningsfinancialsWed, 01 Feb 2012 18:29:00 EST http://www.autoblog.com/feed/20162156/article-comments.xml http://www.autoblog.com/feed/2012/02/01/chrysler-posts-183m-profit-for-2011/20162156/article-detail.xml 20162156 http://www.blogcdn.com/www.autoblog.com/media/2012/02/chrysler-hq-opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/02/chrysler-hq-opt.jpg <![CDATA[Harley-Davidson sales grew 5.9% in 2011]]>http://www.autoblog.com/2012/01/31/harley-davidson-sales-grew-5-9-in-2011/http://www.autoblog.com/2012/01/31/harley-davidson-sales-grew-5-9-in-2011/http://www.autoblog.com/2012/01/31/harley-davidson-sales-grew-5-9-in-2011/#commentsFiled under: , ,

Harley-Davidson CVO Ultra Classic Electra Glide

Last year was a good one for Harley-Davidson. According to Asphalt and Rubber, the American bike manufacturer saw its sales increase by 5.9 percent globally compared to 2010. Sales in the U.S., meanwhile, were up 5.8 percent. All told, Harley-Davidson managed to move 235,188 units last year, with 151,683 of those heading to owners in the States. Those figures mean the manufacturer managed to post a net income of $105.6 million last year. By contrast, during the fourth quarter of 2010 the company saw a net loss of $46.7 million.

The global recession hadn't been kind to the company. With a model line designed to cater to the wealthy and their lust for toys, Harley-Davidson suddenly saw itself posting yearly losses. Those at the helm sold off MV Agusta and pulled the plug on Buell all together in an effort to keep Harley-Davidson up right.

Those moves seem to have helped. The company posted $4.6 billion in revenue last year, which marks an increase of 11.6 percent over 2010.

Harley-Davidson sales grew 5.9% in 2011 originally appeared on Autoblog on Tue, 31 Jan 2012 08:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsharley-davidsonharley-davidson earningsmotorcycleTue, 31 Jan 2012 08:58:00 EST http://www.autoblog.com/feed/20159352/article-comments.xml http://www.autoblog.com/feed/2012/01/31/harley-davidson-sales-grew-5-9-in-2011/20159352/article-detail.xml 20159352 http://www.blogcdn.com/www.autoblog.com/media/2012/01/harley-davidson-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/01/harley-davidson-628.jpg <![CDATA[Chrysler reports $212M third quarter earnings]]>http://www.autoblog.com/2011/10/27/chrysler-reports-212m-third-quarter-earnings/http://www.autoblog.com/2011/10/27/chrysler-reports-212m-third-quarter-earnings/http://www.autoblog.com/2011/10/27/chrysler-reports-212m-third-quarter-earnings/#commentsFiled under: ,

Chrysler Emblem

Chrysler earned a net income of $212 million during the third quarter of 2011. That figure marks a significant improvement over the same period last year, when the company posted a net loss of $84 million. Chrysler notes that its modified operating profit more than doubled compared to the third quarter of last year. The automaker posted a modified operating profit of $483 million for Q3 2011 compared to $239 million in Q3 2010. Chrysler sites an increased demand for the company's multiple refreshed products as well as increased sales volume, better pricing and more advertising as the reason for the improvements.

In addition, the manufacturer posted net revenue of $13.1 billion, which marks a 19-percent increase over the same period in 2010. Chrysler is optimistic that its new four-year labor contract with the United Auto Workers will allow it to continue to produce strong figures moving forward. Hit the jump for the press release.

Continue reading Chrysler reports $212M third quarter earnings

Chrysler reports $212M third quarter earnings originally appeared on Autoblog on Thu, 27 Oct 2011 13:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chryslerchrysler earningschrysler financialchrysler profitsearningsquarterly earningsThu, 27 Oct 2011 13:29:00 EST http://www.autoblog.com/feed/20092085/article-comments.xml http://www.autoblog.com/feed/2011/10/27/chrysler-reports-212m-third-quarter-earnings/20092085/article-detail.xml 20092085 http://www.blogcdn.com/www.autoblog.com/media/2011/10/chrysler-emblem-1319735018_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/10/chrysler-emblem-1319735018.jpg <![CDATA[Ferrari NA launches free seven-year maintenance on back of record sales]]>http://www.autoblog.com/2011/07/27/ferrari-na-launches-free-seven-year-maintenance-on-back-of-recor/http://www.autoblog.com/2011/07/27/ferrari-na-launches-free-seven-year-maintenance-on-back-of-recor/http://www.autoblog.com/2011/07/27/ferrari-na-launches-free-seven-year-maintenance-on-back-of-recor/#commentsFiled under: ,

Ferrari California

There's no question that buying a Ferrari is an expensive proposition. But so is owning one. The cost of insurance, fuel, tires and maintenance can be crushing, but it now becomes much easier, as Ferrari announces a free seven-year maintenance program for newly purchased vehicles.

The program is being launched in markets around the world, and has just been announced for North America. It covers regularly scheduled annual maintenance at the dealership, including labor, replacement parts and lubricants.

That makes it a no-brainer for owners to keep their cars in peak condition, but should also give some peace of mind to future buyers of used Ferraris dating back to this point, knowing that the vehicle has been properly maintained by Ferrari-trained staff. Curiously, however, while the program encompasses the 458 Italia, FF and California, the 599 appears to be left out.

The announcement comes on the back of the most productive and profitable half for Ferrari, whose net profits climbed by nearly a quarter, based on delivery of 11.8 percent more cars than the first half of last year. Follow the jump to read both press releases.

Continue reading Ferrari NA launches free seven-year maintenance on back of record sales

Ferrari NA launches free seven-year maintenance on back of record sales originally appeared on Autoblog on Wed, 27 Jul 2011 18:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsferrarimaintenancesalesscheduled maintenanceWed, 27 Jul 2011 18:32:00 EST http://www.autoblog.com/feed/20002389/article-comments.xml http://www.autoblog.com/feed/2011/07/27/ferrari-na-launches-free-seven-year-maintenance-on-back-of-recor/20002389/article-detail.xml 20002389 http://www.blogcdn.com/www.autoblog.com/media/2011/07/5501080106cor_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/07/5501080106cor.jpg <![CDATA[Toyota bracing for 31% drop in profit]]>http://www.autoblog.com/2011/06/10/toyota-bracing-for-31-drop-in-profit/http://www.autoblog.com/2011/06/10/toyota-bracing-for-31-drop-in-profit/http://www.autoblog.com/2011/06/10/toyota-bracing-for-31-drop-in-profit/#commentsFiled under: , ,

Toyota logo

Toyota has announced that the company's net income for the fiscal year ending in March may decrease by as much as 31 percent compared to one year earlier. According to Automotive News, the Japanese automaker expects to earn around 280 billion yen, which is about $3.5 billion at current conversion rates. Last year, the company raked in 408 billion yen, or around $5.1 billion. The projected earnings are a far cry from what analysts had predicted. Bloomberg recently averaged the forecasts of 13 analyst estimates at 421.8 billion yen, or $5.3 million.

Toyota is facing a number of hurdles related to the shortfall. Chief among those are production delays tied to the earthquake and tsunami disasters that struck Japan in March of this year. Toyota has a higher level of Japanese production than rivals like Honda or Nissan, and it may take longer for the manufacturing giant to get back on its feet. As a result, Toyota is bracing for a sales decline tied to fewer available vehicles.

In addition, the yen is currently at its highest level against the dollar since the end of World War II, which is making the company's exports less and less profitable.

Toyota bracing for 31% drop in profit originally appeared on Autoblog on Fri, 10 Jun 2011 10:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>earningsearthquakejapantoyotatoyota earningstsunamiFri, 10 Jun 2011 10:01:00 EST http://www.autoblog.com/feed/19963733/article-comments.xml http://www.autoblog.com/feed/2011/06/10/toyota-bracing-for-31-drop-in-profit/19963733/article-detail.xml 19963733 http://www.blogcdn.com/www.autoblog.com/media/2011/06/14-2011-toyota-prius_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/14-2011-toyota-prius.jpg <![CDATA[Toyota Q4 profits fall 77% due to quake]]>http://www.autoblog.com/2011/05/11/toyota-q4-profits-fall-77-due-to-quake/http://www.autoblog.com/2011/05/11/toyota-q4-profits-fall-77-due-to-quake/http://www.autoblog.com/2011/05/11/toyota-q4-profits-fall-77-due-to-quake/#commentsFiled under: , , ,

toyota emblem logo

Toyota has announced profits of $314 million for the first three months of 2011, down 77 percent versus the automaker's fiscal fourth quarter a year earlier. Toyota still managed a profit in spite of the March 11 earthquake that shuttered most Japanese plants, yet the $314 million is only a fourth of what analysts were expecting Toyota to make. Toyota's sales were predictably low for the quarter, and revenue was hurt as a result.

Toyota's profits for its fiscal fourth quarter may be disappointing, but the automaker is likely to release still worse numbers for the period through June. The automaker is still struggling through supply issues, with many plants running at only 50-percent capacity if they're running at all. Further, the automaker says that dealers in the U.S. and China are likely to see less product in the coming months, which could lead to much lower revenue.

On a brighter note, Toyota now says that production should ramp up to 70 percent of capacity by June, up from previous estimates of July or August. That should help get Toyota back on its feet faster, which is good for everyone.

For the year, Toyota earned $5.9 billion, or nearly three times the profit of fiscal year 2009. Revenue was also up by .2 percent to $237 billion on sales of 7.3 million vehicles, up by 71,000 units compared to 2009. Sales in the U.S. were down by 67,000 units.

Hit the jump to read over the Toyota press release, which includes volume and revenue breakdowns by region.

Continue reading Toyota Q4 profits fall 77% due to quake

Toyota Q4 profits fall 77% due to quake originally appeared on Autoblog on Wed, 11 May 2011 15:31:00 EST. Please see our terms for use of feeds.

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GM logo

Most automakers have already reported earnings for the first quarter of 2011, but General Motors is still busy counting its loot. We don't know how well the largest automaker in the United States fared, but Bloomberg reports that GM could post a profit of $1.74 billion for the quarter. That would be a 63 percent improvement versus Q1 2010 and the best first quarter for GM in 11 years. A first quarter profit would also be the fifth consecutive quarterly profit for The General - a significant task given the fact that the automaker exited bankruptcy protection less than two years ago.

GM's profit is expected because of the automaker's successful quarter in the U.S. and China. The automaker sold 26 percent more vehicles in the U.S. during Q1 2011 than it did in the first quarter of 2010, while car buyers in China appear to be picking up as many GM products as they can.

In the short term, analysts are questioning whether a solid profit statement will affect the company's stock. GM is still trading at levels close to the same $33/share when the company's IPO was released. The stock briefly climbed to nearly $39/share before dropping back down into the low $30 range. Analysts claim that GM stocks could take a turn for the better due to supply chain issues for Japanese automakers. The General is reportedly in a good position to reap additional sales as the result of its competitors' issues.

GM projected to have most profitable Q1 in 11 years originally appeared on Autoblog on Wed, 04 May 2011 13:00:00 EST. Please see our terms for use of feeds.

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