#Q22013
Chrysler Profit For Q2 Up 16% to $507 Million, Full Year Forecast Reduced
Chrysler Group reported net income of $507 million in the second quarter, with strong sales of SUVs and pickup trucks helping the car company make a profit for the eighth consecutive quarter. Earnings were up 16% from the same period a year earlier when $436 million was made. However, the company reduced its projected full year profit. Second-quarter revenues grew 7 percent to $18 billion, up from $16.8 billion in 2012.
Fiat Turns Higher Profit as Spending Cuts Narrow European Losses
The Fiat Group reported its profits for the second quarter of 2013 and they were better than expected, attributed to strong pickup truck sales at Chrysler’s Ram brand and spending cuts in Europe.
Despite Inventory Issues in Korea and U.S., Hyundai Reports Near Record Earnings As China Sales Surge
Despite low inventory levels that affected sales in North America and their home market of Korea, Hyundai Motor Co. announced near record profits for the second quarter of 2013, powered by good results in China. Hyundai reported net profits of 2.52 trillion Korean won ($2.26 billion), down just slightly from last year but beating analysts expectations. Operating profit was 2.41 trillion won ($2.16 billion) on revenues of 23.18 trillion won ($208.39 billion).
Kia's Q2 Profits Up To $1.06 Billion On Strong Chinese Performance, Sales Lukewarm Elsewhere
Spurred by increased sales in China, Kia’s second quarter profits were up 7.7% from last year, to 1.18 trillion won ($1.06 billion), exceeding analysts expectations slightly. Revenue was up 4.4% to 13.1 trillion won ($1.168 billion).
GM Q2 Profits: $1.2 Billion, Down Due To New Pickup Launch Costs
General Motors said that costs associated with the launch of their redesigned pickup trucks and weaker results in Asia (except for China) lowered net income for the second fiscal quarter of 2013 by 19% from last year, to $1.2 billion.
Nissan Profits Buoyed By Strong U.S. Sales, Weaker Yen
Buoyed by stronger U.S. sales driven in part by cheaper prices allowed by the weaker yen, Nissan reported a quarterly profit of ¥82.02 ($818.9 million), beating estimates by about $50 million, up ~$100 million from last year’s quarter (In Nissan’s fiscal year, the second quarter).
Ford Posts Record Q2 Profits, Up Almost 19%, Surpasses Expectations, All Regions Profitable Except Europe
‘Good job, Al’, ‘Thanks Bill’
For the 16th consecutive quarter, Ford Motor Co. profits have risen, with the Dearborn automaker reporting a 2nd quarter 2013 profit of $1.23 billion, up 18.6% from 2012, working out to 45¢ per share, exceeding analysts’ projections of 37 cents a share. Pretax profit for the quarter was up 40% to $2.56 billion. The company said that it set records for pre-tax profits in both the 2nd quarter and 1st half of 2013, making $4.8 billion in the first six months of the year.
Recent Comments