Tesla posts loss, claims profits are in sight
Shares sank in after-hours trading as the electric-car maker posted a wider-than-expected loss.
Toyota Promises Higher Profits And Flat Sales
Presenting its Q3 financials in Tokyo today, Toyota delivered much higher profits and much higher sales while promising even higher profits at pretty much flat sales for the future. With a man on his left who looked like an accountant, and who had a big accountant’s briefcase on his knee, ready to pull whatever document his master needs, and a very quiet Shigeru Hayakawa on his right, Toyota Senior Managing Officer Takahiko Ijichi did forecast a net profit of 860 billion yen ($9.3 billion) for the fisc…
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Nissan Largest Japanese Carmaker. In Profits
Nissan pulled off an even bigger miracle than Toyota and ended a (this time truly) catastrophic year with a big profit. Today in Yokohama, Nissan CEO Carlos Ghosn announced that Nissan delivered a pre-tax profit of 535.1 billion yen (US $6.76 billion) for the fiscal year that ended on March 31, “despite natural disasters and currency exchange headwinds.”
Japan’s second largest car company produced the largest profit, exceeding that of Toyota, which had announced a 432.9 billion yen ($5.4 billion) …
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Detroit automakers are (finally!) making profits
All three U.S. automakers are on track to be profitable in 2011 when they report results in the coming weeks. That’s something that hasn’t happened since 2004.
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BMW 2011 third-quarter profits grow thanks to the new X3
BMW’s third-quarter profits have grown thanks to the X3 SUV, with an increase of $2.35 billion over last year’s sales. Net income increased 24 percent, and overall revenue has increased by 3.8 percent, as well.
The market growth for luxury automakers has slowed due to economic upset in Europe, but BMW has still done better than analysts anticipated. While BMW has done well, Audi has still generated more profit this quarter.
“Challenges to keep flexibility, to keep the efficiency up the…
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Hyundai profits jump 21% in third-quarter, aims to sell more than 4 million vehicles in 2011
Hyundai Motor Co. posted a third-quarter profit increase of 21 percent. The Korean automaker attributes sales of the Sonata and Tucson to the increase in profits. Hyundai’s net income increased to 1.92 trillion won ($1.7 billion) in the three months ended on the last day of September.
Hyundai ended up beating the projections of 1.89 trillion won, made by seven analysts that were surveyed by Bloomberg.
CFO Lee Won Hee said that Hyundai will sell more than 4 million vehicles this year as it boost…
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Volkswagen Group Operating Profits Soar 86 Percent in the First 9 Months of 2011
Whereas the rest of the European carmakers such as PSA Peugeot and Citroen and the Fiat Group are facing troubled times, the German auto industry is enjoying one of its most prosperous eras ever. On Thursday, Europe's largest automaker, the Volkswagen Group, announced that it has earned more in the first nine months of 2011 than in the whole of 2010. The company's operating profit surged to €9.0 billion (US$12.5 billion) from January through September, up from €7.1 billion in fiscal 2010 an…
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Profits expected at Big 3
For the first time since the global economic crisis brought the American automobile industry to its knees in 2008, all three Detroit automakers appear poised to post a profit.