List of News and Information about autonation and profit on 4WheelsNews.com
News and Information about autonation and profit
Read the latest news and information about autonation and profit published on 4WheelsNews.com! View comments and pictures about autonation and profit on 4WheelsNews.com!
The net profit of AutoNation Inc. in the second quarter surged by almost 10% to $78.6 million even as new-car margins fell and supplies of Japanese-brand vehicles had normalized. The largest dealership group in the country posted a net income of $78.6 million in the second quarter, higher than the $71.9 million recorded in the second quarter of 2011.
Its operating income climbed 14% to $164.2 million while the revenue rose by 17% to $3.9 billion, mainly boosted by a 29% rise in retail new-vehicle unit sales. CEO Mike Jackson said that the gain in new-vehicle unit volume resulted to the improvement in gross profit in AutoNation's new-vehicle, parts and service, and finance and insurance operations. He said that for the rest of the year, the outlook for industry sales is strong.
In a statement, Jackson said that the new vehicle sales will continue to increase. It’s also assumed that the industry new vehicle sales for 2012 will be in the mid-14 million units. He said that sales will improve with product launches that will be sped up, as well as with strong consumer credit and replacement demand. The overall U.S. economy continues to be slow but the U.S. light-vehicle demand has increased by 15% from January until June.Read the entire article AutoNation’s net profit in the second quarter surged by almost 10%
We are already past the first six months of the year, and now is the time when automakers evaluate their performance within this period. Speaking of numbers, Daimler and Volkswagen are some of the largest automakers out there, being part of the top 15 worldwide rankings in 2015, where Toyota is ranked first, and VW is just behind it. But here is the thing, Daimler and VW are not at par with the levels of revenue being experienced by BMW so far this year.
Ernst & Young have been studying the numbers for the German publication Manager Magazine, and they found that BMW earned as much as €49.25 billion ($51.5 billion) in the first half of this year alone, that is equal to a profit of €5.58 billion ($6.68 billion) with a profit margin of 11.3 percent. Looking at many other figures from other automakers, no one is close to what BMW has earned in the past six months.
The analysts also compared which company came closest to BMW, and surprisingly, it was Suzuki with a profit margin of 10.3 percent. Next in line is Daimler with a 9.7 percent profit margin. In fourth and fifth place are GM and VW, respectively. If VW hasn’t been involved in the Dieselgate scandal, VW would probably still rank the highest, as seen in the past.Read the entire article BMW is the most profitable automaker in 1st half of 2017
2017 is looking great for Ferrari as they have just announced a 24 percent profit increase in the second quarter of the year. Apart from that, they have also shipped 5.3 percent more cars within the period and recorded €920 million ($1 billion) of revenue. That is 13.5 percent more than last year's figures. The company would like to give thanks to the LaFerrari Aperta and the GTC4Lusso for breaking their own record.
In the second quarter alone, the company shipped a total of 2,322 cars - or 118 more cars from the year before. Another contributor to the profit increase would be the V12 based models, these cars took account for another 36 percent sales increase. Besides the LaFerrari Aperta and the GTC4Lusso, the F12berlinetta and the F12tdf were also some of the faster moving models. If you didn't know, these models have already been phased out as the new 812 Superfast makes its way to the market. Other models from the 488 family, the GTC4 Lusso T from 2016 and the California T, are still going strong.
The company feels that by the end of 2017, they will reach over €950 million ($1.13 billion) in profit, while CEO Sergio Marchionne suggests that it could reach about €1 billion ($1.18 billion). This is possible as the company continues its domination in the Unites States and Australia, as well as with the anticipated success of the new Hong Kong dealership. The US has already seen a 3 percent increase, and a 20.5 percent increase in Australia.Read the entire article Business is looking good for Ferrari in 2017, profits jumped 24% in second quarter
Fans of Ferrari should prepare themselves for the eventuality that their favorite brand will be releasing in a few years an SUV, or at the very least a “utility vehicle.”
Development of this model is underway which the brand is calling, as of now, the F16X. Bloomberg reports that this new model is projected to make its official debut in 2021, given that it is expected to play a significant role in the plan to at least double company profits by the year 2022.
This will be part of a business plan spanning five years presented by CEO Sergio Marchionne. The overall goal is to increase the yearly deliveries to above 10,000 units, the current limit. Though the actual plan will still be officially fully disclosed by 2018, there is the expectation that given the stricter environmental guidelines, more hybrid models will likely be released. In the same report by Bloomberg, Ferrari believes it can attract new wealthy customers through hybrid models. Indeed, each model to be sold beginning 2019 will come with a hybrid version.Read the entire article Ferrari hopes to double profits by 2022 with release of its first SUV
Jeremy Clarkson, Richard Hammond and James May had set up their own TV company, W Chump & Sons, following the signing of a three-year contract with Amazon reportedly amounting to £160 million. The newly established TV firm of former Top Gear hotshots has earned more than £8 million in profit after the first season production of The Grand Tour went online.
A total of £8.39 million (or £6.7 million after tax) was made between November 2015 and towards the end of 2016 based on the filed accounts. This only proves that The Grand Tour founders have enticed many viewers to sign up for Amazon Prime’s streaming service with a subscription rate of £79 a year. The first series, which has 13 episodes, has broken the viewership records on Amazon Prime from November to February.
It can be recalled that Clarkson left BBC in 2015 after an altercation with Oisin Tymon over the lack of hot food on the set. His co-presenters, Hammond and May had also quit Top Gear soon after Clarkson left the network.Read the entire article The Grand Tour trio made over £8 million pre-tax profit, accounts show
Have you ever wondered how much luxury car companies profit from every vehicle they sell? And which companies profit more? Well, in 2016, Porsche sold over 238,000 vehicles. That is quite a huge number considering their cars are very pricey, but it doesn’t end there.
That number then translates to a total operating profit of €3.9 billion ($4.1 billion), which according to Bloomberg, is a fourteen percent increase since 2015, and a net profit of $17,250 per unit, with a nine percent increase as well. In other words, for every Porsche 911 sold, the profit amounts to the value of a new car by another brand.
Other companies such as Daimler AG and BMW, which both have roughly the same margins, have a net profit of about $5,000 per vehicle in 2016. But none of the above (Daimler, BMW, or Porsche) can compare with the amount this other company is earning.Read the entire article Porsche’s net profit on each vehicle went up 9% in 2016 to $17,250 but Ferrari earns almost $90,000
British carmaker Lotus Cars has been in the red since the 1970s, but it has somehow managed to keep itself alive. This financial bleeding, of course, has been a source of frustrations at Lotus, which has been looking to plug its losses through a number of means. Now, it seems that it would be able to post its first operating profit since around 40 years ago.
According to the chief executive of Norfolk, United Kingdom-based Group Lotus plc, Jean-Marc Gales, the company is on track to stop its four decade-long string of operational losses. Gales was tapped as CEO in 2014 and was in charge of implementing a drastic turnaround plan that entailed massive reduction of its workforce. In fact, when Gales took the driver’s seat at Lotus in 2014 – he was with the French carmakers Peugeot and Citroen before that – the carmaker had 1,200 employees.
He noted at the time that these 1,200 workers were building fewer than 1,400 cars. He had said that if Lotus sells 1,200 cars, it can’t employ the same number of workers. Gales’ turnaround plan saw 400 workers made redundant from the company, and now Lotus’ workforce is at 800-employee strong. However, he noted that these 800 workers are now producing annually over 2,000 cars, all of which are of higher quality than the carmaker’s previous models.Read the entire article Lotus Cars posts first operational profit in four decades in fiscal year ending March 2017
For Daimler AG (ticker symbol DAI), 2015 was a very profitable year with the company posting record levels in all its financial metrics. Due to the contributions from all its divisions, Daimler saw significant improvements in sales and revenues, net profit, the group’s earnings before interest and tax (EBIT) as well as EBIT of all ongoing business.
The company expects to continue the trend this 2016 and is projecting further growth in revenue and EBIT from its ongoing business. Daimler expects its position in major markets to be strengthened with an overall increase in unit sales.
These projections are based on the quality offerings in all its divisions as well as their competitive pricing structure and expanded product reach, making it possible for Daimler to post higher than the expected industry-wide increase in global demand for cars.Read the entire article Daimler posts record profits for 2015, shareholders to get payout
After operating profit and sales declined in the first quarter, Hyundai Motor Co. and Kia Motors Corp. have decided to cut costs, according to a joint email from the two companies. No details were given on where the cuts will be made. No estimates were cited. During the quarter that ended March 31, the operating profit of both Hyundai and Kia fell for the fourth straight quarter.
The automakers said that they haven’t been able to compete with companies like Toyota Motor after their sales were affected by the unfavourable currency-exchange rates. KB Investment & Securities Co. analyst Shin Chung Kwan predicts that the first item to be cut would be related to marketing, advertisement, and sales.
He also thinks that with the present situation, the automakers will have a say during negotiations for other incurred costs like wages and prices of auto parts. A senior executive source told the JoongAng Ilbo newspaper that Hyundai Motor Group aims to cut 30% of costs. Japanese automakers have the advantage in overseas markets amid the strengthening won and a weakening yen.Read the entire article Hyundai and Kia to cut costs amid dropping profits
Nissan Motor Co. posted a 13% decrease of its operating profit in the January-March fiscal fourth quarter as favorable exchange rate and strong sales in North America were unable to offset the declining sales in major markets like Japan and China. In the latest quarter, Nissan’s operating profit fell to 171.6 billion yen ($1.43 billion) from the previous year’s 197.7 billion yen ($1.65 billion).
The automaker also said that its net income went up by 3.3% to 118.8 billion yen ($993.1 million). Its global revenue climbed 2.6% to 3.29 trillion yen ($27.50 billion) even as global sales fell by 2.1% to 1.48 million vehicles in the quarter. Quarterly profits took a dive as sales in key markets fell and as the automaker incurred high costs to launch a new product in North America.
The automaker’s operating profit in North America dropped by 23% to 79.9 billion yen ($166.3 million) during this period, as Nissan increased its production of the Murano crossover and as it made preparations for the Maxima sedan. Meanwhile, its regional sales increased to 1.65 million units – a 12% jump. In Japan, its quarterly sales decreased by 19%.Read the entire article Nissan’s quarterly profit falls 13 percent
A surge of profits was felt by Toyota Motor Corp. in the latest quarter as it benefited from huge sales in North America and from substantial foreign exchange gains, leading to record earnings for the full year. For the fiscal fourth quarter that ended March 31, the operating profit increased by 46% to 635.7 billion yen ($5.31 billion).
In comparison, Toyota reported 436.1 billion yen ($3.65 billion) the previous year during the same period. Meanwhile, the automaker’s net income increased by over half to 446.4 billion yen ($3.73 billion) from the previous year’s 297.0 billion yen ($2.48 billion). In the latest quarter, its global revenue rose by 8.4% to 7.12 trillion yen ($59.52 billion) even when its global retail sales decreased by 2.4% to 2.542 million vehicles.
President Akio Toyoda believes that these gains were because of the depreciation of the yen as well as cost-cutting measures. He also said that the automaker will embark on a new age of expansion after having taken a pause on new plant construction for three years. Toyota will be starting this offensive during the second half of 2015 with the debut of the first model built on its new modular product platform.Read the entire article Toyota’s profit goes up 46% to $5.31 billion in 1Q 2015
BMW’s profit for the first quarter of 2015 grew by 21% -- the result of higher demand in Europe and the U.S. for models like the X5 SUV. In a statement, BMW revealed that EBIT (earnings before interest and taxes) climbed from 2.09 billion euros the previous year to 2.52 billion euros ($2.83 billion). Its revenue also increased by 15% to 20.9 billion euros.
In the first quarter, BMW had an automotive EBIT margin of 9.5%, staying at a level comparable to the first quarter of 2014 and at the upper end of its 8-10% target range. This is attributed to record-breaking sales of high-margin SUVs in the period. Meanwhile, Daimler’s Mercedes-Benz brand reported a 9.2% return on sales for the first quarter from 7% the previous year.
On the other hand, Audi’s operating margin decreased from 10.1% to 9.7%. According to Juergen Pieper, an analyst at Bankhaus Metzler, currency tailwinds caused some of the profit increase. Having unchanged profitability means that BMW is “growing slowly.” However, Pieper pointed out the growth has not been as fast as at Daimler.Read the entire article SUV sales help BMW’s profits to go up 15% in the first quarter of 2015
Fuji Heavy Industries may reach its sales target in North America five years before schedule as it posted a 21% increase in operating profit during the latest quarter as it benefits from favourable exchange rates and record-breaking earnings. Fuji Heavy, which makes Subaru vehicles, has plans to boost local production capacity in the market.
While announcing financial results for the fiscal year, Fuji Heavy President Yasuyuki Yoshinaga said that its global operating income jumped to 112.9 billion yen ($943.7 million) during the fiscal fourth quarter ended March 31. Earnings were boosted by a windfall gain of 41.6 billion yen ($347.7 million) from the depreciating yen.
It’s likely that operating profit would have dropped without the tailwind since just the foreign exchange gain was more than twice the amount of the climb in quarterly operating profit. Japanese exports are helped by the decline of the yen against the dollar. As a result, the yen-dominated value of dollars that are earned outside of the country rises.Read the entire article Fuji Heavy’s profit up 21%, may hit target 5 years ahead of schedule
Audi’s profit margin has been adversely affected by its efforts to catch up to rival BMW. Audi’s operating margin fell to 9.7% from 10.1% a year ago, reaffirming its target range of 8 to 10%, despite having higher underlying earnings from sales of its luxury saloons and SUVs.
Last Monday, Audi said that its operating profit for the first quarter increased by 8.2% to 1.42 billion euros (1 billion pounds), driven by the mounting demand for the A6 saloon and Q3 sport-utility vehicle.
However, Audi’s margins are being squeezed because of expenses related to improving the models, developing technologies, and expanding in foreign markets amid the fierce competition among premium automakers and the sluggish demand in emerging markets. In a statement, finance chief Axel Strotbek said that even with the persistent high investment, the company continues to pursue its “ambitious profitability targets."Read the entire article Audi’s profit margin suffers from attempts to catch up to BMW
Honda Motor Co.’s profits in the latest quarter suffered a beating, with the automaker failing to meet its main targets for full-year earnings and unit sales, Executive Vice President Tetsuo Iwamura announced. This is said to be primarily due to lukewarm sales and high recall costs. In the January-March fiscal fourth quarter, its operating profit dropped 32% to 111.94 billion yen ($935.7 million) from the previous year’s 165.29 billion yen ($1.38 billion).
Honda’s net income also declined by 43% to 97.84 billion yen ($817.9 million), from the previous year’s 170.51 billion yen ($1.43 billion). In the quarter, its revenue rose by 8.3% to 3.35 trillion yen ($28 billion).
Meanwhile, worldwide sales climbed slightly by only 0.8% to 1.2 million vehicles, boosted by sales in mainland Asia and North America. Iwamura also said that earnings slumped because of its tepid sales volume and huge recall costs as well as the expenses related to ramping up the HR-V crossover at Honda’s new plant in Mexico.Read the entire article Honda’s profits for Q1 2015 fell 32% due to poor sales, recall costs
Lotus Cars CEO Jean-Marc Gales is confident that the automaker will make a profit once again by 2017 after having lost money for years. Gales, who used to be an executive of PSA/Peugeot-Citroen and Daimler, has undertaken measures to reduce costs while improving the product lineup since he started overseeing Lotus in May 2014.
However, Gales said that the automaker won’t launch all-new cars until its new China-assembled SUV is released in 2018/19 as he puts the focus on increasing sales and cashflow. He added that in the short term, Lotus will raise sales by modifying the existing three-car lineup.
An automatic transmission has been added to its track-focused Exige two-seater, which is on track to overtaking the entry-level Elise as Lotus’ top-selling model. Gales anticipates that Exige models with automatic transmission will make up 40% of sales.Read the entire article Lotus CEO Jean-Marc Gales expects to be profitable by 2017
The operating profit of Daimler for the first quarter of 2015 grew by 41% primarily due to the impact of launching new models and record-breaking sales of Mercedes-Benz vehicles. According to a statement released recently by the company, its overall adjusted group earnings before interest and tax (EBIT) surged to 2.93 billion euros (or $3.19 billion).
Mercedes-Benz Cars posted a 9.2% return on sales from ongoing business, considerably higher than the 7% recorded in the first quarter of 2014. The growth is fuelled by record-breaking passenger-car deliveries. Mercedes-Benz presently ranks third among luxury vehicle makers.
Daimler CEO Dieter Zetsche has set a goal for Mercedes to outdo sales of BMW and Audi by the end of the decade and increase profitability to 10% of its revenue. Quarterly passenger sales were 18% higher than last year with 459,708 units sold.Read the entire article Daimler’s Q1 2015 operating profit is up 41%
Mazda Motor Corp.’s sales may have increased during the first three months of 2015; however, its profits still fell due to higher marketing and factory startup costs as well as foreign exchange losses. Mazda, which relies heavily on exports, has forecasted that its annual net income will drop 12% for the present fiscal year due to higher taxes and the continuing rise of expenses at overseas factories.
CEO Masamichi Kogai has announced new mid-term goals through the fiscal year that ends March 2019. The automaker’s “Stage 2” of its structural reforms aims for an 18% rise in global sales to 1.65 million units, from 1.397 million in the fiscal year that recently ended.
Mazda released a statement that in the fiscal fourth quarter that ended March 31, its global operating profit dropped by 11% to 50.9 billion yen ($425.5 million). In the quarter, the Japanese brand’s net income slipped 53% to 27.3 billion yen ($228.2 million).Read the entire article Mazda’s profits fall in Q1 2015 due to high marketing, startup costs
BMW is seeing a slowdown in sales volume and profit this year due to aging models and higher investment costs for new technologies. The German carmaker is expecting a medium-to-high single-digit growth in sales and profit this year. Chief executive Norbert Reithofer remarked that sales and profit forecast rest on the assumption that the global economic conditions will remain stable and won't deteriorate.
He noted that a number of uncertainties remain like the losing momentum in important markets like China. Reithofer is leaving a post that he held for more than eight years and will be succeeded by Harald Krueger on May 13. He said that there were challenges ahead for Krueger. "The future belongs to the next generation,” Reithofer said.
BMW logged a 10.3-percent jump in earnings before tax in 2014 to EUR8.71 billion ($9.23 billion). With that, BMW has posted its fifth straight record year since the global economic crisis, Reithofer said in a statement.Read the entire article BMW expects slowdown in sales and profit in 2015
Volvo Cars posted a 17-percent jump in operating profit in 2014 to SEK2.25 billion ($271 million) from SEK1.92 billion in 2013. The carmaker also logged a 6.3-percent jump in revenue to SEK130 billion. Volvo chief executive Hakan Samuelsson remarked that the carmaker is currently in an investment phase, which fruits will start to be felt from this year.
The carmaker also posted record sales of 465,866 cars in 2014, although that would be just over half of its 2020 sales goal of 800,000 cars. However, that figure means the carmaker is slowly penetrating a premium market lorded over by German luxury groups BMW, Audi and Mercedes-Benz.
Samuelsson remarked to Reuters that the carmaker expects to sell around 500,000 cars this year by outgrowing underlying markets in Europe and China and posting gains in the United States. He said that Volvo plans to post a new sales record this year as well as a clear improvement in profitability during the second half.Read the entire article Volvo Cars logs 17% jump operating profit in 2014 to $271 million
Did you film an important event?