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#profit
Mitsubishi Posts Annual Profit in North America
Today Mitsubishi posted its first annual profit in North America of the last seven years.
Ford Posts 1.3B Net Income in Second Quarter
Ford announced the results of its second quarter earnings today, marking the Dearborn automaker’s 20th consecutive quarter of profitability.
GM Profits Pancake on Recall Costs
Amid executing a recall covering 2.6 million vehicles, General Motors’ first quarter net income sank 86 percent compared to the same period a year ago.
Toyota Reports 93% Profit Increase Over Last Year
Toyota released its first quarter results today, revealing a 93 percent increase in income over the same period last year.
Tesla Shares Jump 24% After Maker Reports Profit
Tesla’s stock price rose 24 percent Wednesday after the electric car maker reported its first quarterly profit.
Aston Martin One-77 Now Sold Out
While many businesses had been hurt badly by the tough economic times, some of which have never recovered, British luxury and sports car manufacturer Aston Martin is thriving.
General Motors Regional Divisions Now Profitable, Opel Included
While General Motors seemed desperate to sell Opel back in 2009, GM CEO Dan Akerson now says that the terms of the sale were a “bad deal” and that Opel, along with GM’s other global divisions, are now profitable.
General Motors Posts $3.2 Billion Profit
General Motors cruised to their fifth straight quarter in the black, announcing a gross profit of $3.2 billion, helped along by a sale of GM subsidiary Delphi for $1.6 billion in March.
Hyundai Dealer Profits Lagging Behind Other Brands
Hyundai may arguably be the hottest mainstream brand in the auto industry, but when it comes to dealer profitability, Hyundai dealers seem to lag behind their less popular rivals.
General Motors Posts $4.7 Billion Profit, Hourly Workers to Get $4,300 in Profit Sharing
General Motors today announced its first full-year numbers after emerging from bankruptcy, posting a $4.7 billion profit after a massive bailout by the U.S. and Canadian governments.
Chrysler Records $239 Million Profit In Q3
Chrysler recorded it’s third straight profitable quarter, raking in $239 million in Q3, as the company rode a wave of optimism regarding increased sales and a new product lineup.
Ford Posts Record $1.7 Billion Q3 Profit
Just a few years ago it would have been hard to imagine, but with much of the country still struggling to pull itself from a recession the Ford Motor Company has just posted a record Q3 profit of $1.7 billion. The American automaker has said it will use the funds to being reducing debt in a move to further improve its economic standing, with debut payments totaling $10.8 billion for the year, resulting in a zero ‘net debut’ situation (the same amount of debut as cash) by 2011.
GM Posts $1.3 Billion Profit, IPO Filing To Come Shortly
General Motors is expected to file for an Initial Public Offering tomorrow as the company recorded a $1.3 billion profit. GM is hoping to use the positive momentum of two consecutive quarters of profit to help move its IPO filing along.
General Motors Posts $865 Million Q1 Profit
New models, strong sales and cost cutting measures have put General Motors in the black for the first quarter of 2010. GM posted a $865 million Q1 net profit, after posting staggering losses for five straight years in a row.
“We’re pleased with our first quarter performance, in particular achieving profitability,” said Chris Liddell, vice chairman and chief financial officer. “In North America we are adding production to keep up with strong demand for new products in our four brands. We’re also steadily growing in emerging markets, keeping our costs under control, generating positive cash flow and maintaining a strong balance sheet. These are all important steps as we lay the foundation for a successful GM.”
Recently GM announced it had paid back the almost $8 billion in loans from the Canadian and U.S. governments, however, the U.S. Treasury also fronted $43 billion to save the American auto giant from solvency. If GM can sustain profits then the U.S. government may look to sell-off its shares of the automaker by the end of the year.
[Source: Automotive News]
Official release after the jump:
It's Do Or Die For Spanish Brand SEAT
SEAT, Volkswagen‘s Spanish subsidiary, has been given five years to restructure or else VW will be forced to shut down or sell the ailing Spanish brand. While SEAT’s cars are known for offering excellent value with an emphasis on performance rather than luxury. But despite positive reviews from auto journalists, this hasn’t translated into sales for the brand, with sales falling 8.5 percent in 2009. SEAT’s Spanish factory is only working at 60 percent capacity, something VW considers unacceptable. The factory is capable of producing 500,000 cars a year and must be run at 80 percent capacity to turn a profit.