New Paradox: Sales Down in a Red-Hot Market

Delivery numbers for the first quarter of 2022 may be down compared to this same time last year, but don’t construe that as a lack of customer interest. Supply and demand are out of sync for many manufacturers right now, leading to a situation in which there seems to be no shortage of buyers but a dearth of inventory to satiate their requests.

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Audi Introducing EV Crossover In 2018, Q8 Flagship SUV In 2019

Audi is set to launch a new flagship SUV in 2019, as well as an EV crossover in 2018, both part of the automaker’s 2020 model expansion plan.

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GM Reports $1b Q1 Profit, Still Seeking "Competitive Levels Of Profitability"

Once upon a time, GM’s North American operations spewed red ink across the firm’s balance sheet, with the whole mess kept afloat by relatively strong overseas operations. Now GM makes most of its money at home while its international divisions limp along. No, really: in its just-released Q1 financial report, GM reveals that some $1.7b of its $2.2b global EBIT came from its once-troubled home markets. What a difference a bailout makes!

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Chrysler Reports $116m Q1 Profit

Chrysler’s Q1 conference call is just beginning, and though you can’t listen in unless you’re registered media, you can download the slide set here [PDF] and the press release here. Besides, I’ll be updating this post with the latest as it happens, so why bother? Marchionne is just noting that Chrysler’s $116m Q1 profit is the first since 2009, although he seems more excited about “modified operating profit” of $477m, and free cash flow of other $2.526b.

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Toyota's H1 Production Up 46.8 Percent - But Where Are The Profit Numbers?

ToMoCo is keeping the suspense up on their long awaited and h otly rumored first quarter profit numbers. Daihatsu has reported stellar numbers. Hino has reported a nice set of financials. Now, “nine major Toyota Motor Corp. group companies all reported group net profits in the April-June quarter thanks to a recovery in the auto industry,” says The Nikkei [sub]. No word yet from the mother ship. EMCON. Strict radio silence.

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Toyota May Have Earned Over $1b In Q1 Of Fiscal Year

Toyota Motor Corp. is expected to report a group operating profit of about 100 billion yen ($1.14b) for the April-June period, The Nikkei [sub]. That would be a huge improvement over the same quarter loss of 194.8 billion yen ($2.23b) in 2009. In case you are wondering about the strange quarters: Japan goes by the fiscal year that ends on March 31. The April-June period is the first quarter of the new year, and times are good at TMC.

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Ford Pulls In $2.08 Billion Q1 Profit

The Ford Motor Company released its first quarter earnings today [Full report here, Slide presentation here (both PDF)], revealing that it gained over $2b in net profit on rising revenue and improved operating margins. Sales receipts rose to over $28b, and with each of Ford’s regional units posted operating profits, Ford’s gross automotive cash rose by $400m to $25.3b (although operating cash flow was $100m in the red). North American operations earned $1.2b in pre-tax operating profit, South America earned $203m, Europe recorded $107m and Asia-Pacific-Africa brought in $23m. Ford Credit racked up $828 in pre-tax profits, as lower depreciation levels improved results. Despite these fine results, Ford finished the quarter with $34.3b in automotive debt, a $700m increase from the beginning of the year. Ford paid $492m in interest on that debt in the first quarter.

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Un Miracolo Dell'Evoluzione: Chrysler Posts A Profit

Be extra careful when you read Bloomberg this morning. It will make you think you had one too many last night. The financial news service reports that Chrysler posted a $143 million operating profit in the first quarter,“after cutting costs and introducing a big pickup.” It’s a miracle alright.

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  • JREwing It suffered the same small back seat problem that the Ford Contour and Mercury Mystique did. 2 more inches in wheelbase or a taller roof would've helped a lot.But the biggest issue was that it wasn't a SUV/crossover/soft-roader with 3 rows in a market that couldn't get enough of them.
  • Inside Looking Out Ford also was bankrupt with his first company that became The Standard of the World.
  • 28-Cars-Later If only some kind of gasoline/electric... hybrid... existed.
  • Wjtinfwb Cool cars that drover pretty well, thank to the Benz bits underneath. But that interior.... Chrysler must have sourced interior materials to Lego or Mattel. I spent a week in a rented 300 Touring of this vintage, very enjoyable car to drive but the interior would have made an old Isuzu i-Mark blush. No sale at any price.
  • Wjtinfwb The airport I fly out of and frequently rent from when driving (VPS) has no facilities for charging an EV. It's just an open, unsecured lot that requires getting the agreement and keys from the counter in the terminal. I doubt Hertz would want to invest in the infrastructure needed to add Hi-speed EV charging stations in an open air, unsecured lot. Bigger airports like Atlanta or Baltimore have dedicated garage facilities for rentals, but the majority of secondary or tertiary markets airports are open air lots like mine in NW Florida. Plus, unless you're planning on only driving a few miles a day who wants to deal with finding an EV charge station that is working then standing around for hours while Hertz's car gets recharged. Rental EV's are The answer to the question no one asked.