Ford invests $1 billion in Chicago Assembly and Stamping Plants and adds 500 jobs to expand capacity for the production of all-new Ford Explorer, Police Interceptor Utility and Lincoln Aviator New investments in advanced manufacturing technologies and workforce training at the plant help Ford deliver better quality vehicles to customers more quickly Ford is spending… Continue reading Ford Invests $1 Billion in Chicago Plants; Creates 500 New Jobs to Launch Explorer, Police Interceptor, Lincoln Aviator
Category: OEMs
Operation Digital: New hope for cancer patients
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Best Cars Germany survey reveals Hyundai’s jump in brand image
Survey conducted by German car magazine AUTO MOTOR UND SPORT highlights the major increase in brand image for Hyundai Motor Hyundai recorded the biggest step up in advanced technology and environmentally friendly cars, according to survey results Readers scored Hyundai as the brand achieving the greatest rise in trustworthiness 6 February 2019 – In the… Continue reading Best Cars Germany survey reveals Hyundai’s jump in brand image
Peugeot Hérimoncourt: employees on strike after the announcement of the closure of the site
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Jaguar Land Rover posts huge financial loss
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Notice Regarding Year-on-Year Changesin Consolidated Financial Results for the Third Quarter of FYE 2019
February 7, 2019
Notice Regarding Year-on-Year Changes
in Consolidated Financial Results for the Third Quarter of FYE 2019
Company name:SUBARU CORPORATION
Representative:Tomomi Nakamura, President and CEO
Code number:7270 (First Section of Tokyo Stock Exchange)
Contact for inquiries: Katsuo Saito, Vice President
and General Manager of Administration Department
Phone: +81-3-6447-8825
Subaru Corporation hereby notifies year-on-year changes between the consolidated financial results for the third quarter of FYE2019 (April 1 – December 31, 2018) announced today and the corresponding third quarter of the previous year. Details are set out below.
1. Year-on-Year Changes in Consolidated Financial Results for the Third Quarter of FYE 2019
Net sales
Operating
income
Ordinary
income
Net income
attributable to owners
of parent
Net income
per share
Third quarter of FYE 2018 (A)
Millions of yen
2,437,749
Millions of yen
306,305
Millions of yen
303,116
Millions of yen
152,843
Yen
199.35
Third quarter of FYE 2019 (B)
2,377,413
153,669
157,042
118,220
154.18
Increase or decrease (B－A)
(60,336)
(152,636)
(146,074)
(34,623)
Percentage change (%)
(2.5)
(49.8)
(48.2)
(22.7)
Note: The Company has changed its accounting policies with effect from the first quarter of FYE 2019. Accordingly, the new policies have been retroactively applied to FYE 2018 results before carrying out year-on-year comparison and analysis of net sales figures.
2. Reasons for the Changes
In the automotive business, Unit sales in Japan decreased by 20,000 units (17.1%) year-on-year to 98,000 units, as sales of Impreza, Subaru XV and Levorg declined, offsetting strong demand for the fully-redesigned Forester launched in July 2018.In overseas markets, Subaru kept strong momentum on retail sales with growth in its largest North American market driven by the newly-introduced Ascent and the Crosstrek (“Subaru XV” outside North America). On the other hand, consolidated overseas unit sales fell by 19,000 units (2.8%) to 664,000 units, as deliveries of the Forester decreased before the launch of its fully-redesigned version and deliveries were adjusted to optimize local inventory levels mainly in the U.S. market.
Aerospace Company sales rose year-on-year, driven by increased production of components for the C-2 cargo transport aircraft for the Japanese Ministry of Defense and an increase in other defense R&D contracts. Sales in the passenger aircraft sector were lower than the same period of the previous year, largely due to a decrease in Boeing 777 production.
As a result, consolidated net sales for the third quarter of FYE 2019 declined by ¥60.3 billion (2.5%) year-on-year to ¥2,377.4 billion.
Operating income declined by ¥152.6 billion (49.8%) year-on-year to ¥153.7 billion for factors such as an increase in quality-related expenses due to recall campaigns notified in November 2018 and a decrease in consolidated unit sales. Ordinary income decreased by ¥146.1 billion (48.2%) year-on-year to ¥157.0 billion. Net income attributable to owners of parent fell by ¥34.6 billion (22.7%) to ¥118.2 billion.
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JAGUAR LAND ROVER REPORTS THIRD QUARTER RESULTS FOR 2018/2019 FINANCIAL YEAR
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SIGNIFICANT SALES GROWTH IN NORTH AMERICA OFFSET BY CONTINUING WEAKER MARKET CONDITIONS IN CHINA
× {{dictionary[‘Added to your cart’]}} × {{dictionary[‘CART WARNING’]}} {{dictionary[‘Sorry, your cart is currently full. Please remove ‘]}} × {{dictionary[‘Cookie message and title’]}} × Pagination Warning! Sorry, Please add a number less than maximum pages {{dictionary[‘User Licence – pop up text’]}} You have been detected as being located in: {{userLang}} A media site housing news, photo… Continue reading SIGNIFICANT SALES GROWTH IN NORTH AMERICA OFFSET BY CONTINUING WEAKER MARKET CONDITIONS IN CHINA
Elon Musk’s Tesla Roadster Is Still Boldly Traveling Through Space Exactly One Year After SpaceX Launch
The Starman inside Elon Musk's Tesla Roadster is now 226,423,581 miles away from Earth and has listened to David Bowie's 'Space Oddity' approximately 99,000 times since it first began its journey one year ago today.
One year ago today on February 6, 2018, Elon Musk and SpaceX successfully launched their Falcon Heavy rocket and propelled a Tesla Roadster and its sole occupant, the daring mannequin affectionately known as the Spaceman, into space where the duo has remained to this day on their wild orbit around the sun.
As Space reports, the Tesla Roadster is currently traveling along an elliptical path that will take the electric car far beyond Mars, just as distant as it can get from the sun, while also bringing it along the closest solar approach when it drifts near the orbit of Earth.
Last year at the start of November, the Tesla Roadster pushed well beyond the orbit of Mars and according to Ben Pearson, who very cleverly built the Where Is Roadster website, both Spaceman and the Roadster are right now 163,525,522 miles (263,168,899 km) away from Mars and 226,423,581 miles (364,393,544 km) away from us here on Earth.
Assuming any repairs needed to be conducted on Elon Musk’s Tesla Roadster, the Starman would be well out of luck as the electric car has officially gone over its 36,000-mile warranty not just one time, but a stunning 13,000 times over the past year.
And if the Roadster’s battery is still functioning today, this would mean that the Starman has so far listened to David Bowie’s “Space Oddity” a total of at least 99,000 times since it first began its journey one year ago today.
According to the Where Is Roadster website, Elon Musk’s Tesla Roadster should stay rooted where it is in space for quite some time now as its period of orbit has been estimated to be approximately 557 days.
The Roadster should also eventually be making several very large laps around the sun before it and the Starman reach the conclusion of their daring journey.
After conducting orbit-modeling studies, scientists have explained that the Tesla Roadster will eventually smash into either Earth or Venus, finally ending its adventures on one of these planets. However, this won’t be occurring for a long time as scientists estimate that this will take tens of millions of years to occur.
However, there is still a small, six percent chance that the Roadster will crash into Earth within just 1 million years, with a slightly lower and 2.5 percent risk that it may also careen into Venus during this same time frame.
While Elon Musk has previously stated that the Tesla Roadster was launched into space for fun, the Falcon Heavy which launched it will be making another trip very soon on its March 7 flight which will see the SpaceX rocket launch the Arabsat 6A communications satellite into orbit.
Subaru Corporation Announces Consolidated Financial Results for the Nine Months of FYE2019
February 7, 2019
Subaru Corporation Announces Consolidated Financial Results for the Nine Months of FYE2019
Tokyo, February 7, 2019 – Subaru Corporation today announced its consolidated financial results for the first nine months of fiscal year ending March 31, 2019.
Consolidated global unit sales of Subaru vehicles decreased 5.0% to 762,000 units.
Unit sales in Japan decreased 17.1% to 98,000 units, as sales of Impreza, Subaru XV and Levorg declined, offsetting strong demand for the fully-redesigned Forester launched in July 2018.
In overseas markets, Subaru kept strong momentum on retail sales with growth in its largest North American market driven by the newly-introduced Ascent and the Crosstrek (“Subaru XV” outside North America). On the other hand, consolidated overseas unit sales fell 2.8% to 664,000 units, as deliveries of the Forester decreased before the launch of its fully-redesigned version and deliveries were adjusted to optimize local inventory levels mainly in the U.S. market.
Consolidated net sales declined 2.5% to 2,377.4 billion yen.*1
Operating income declined 49.8% to 153.7 billion yen for factors such as an increase in quality-related expenses due to recall campaigns notified in November 2018 and a decrease in consolidated unit sales. Ordinary income decreased 48.2% to 157.0 billion yen. Net income attributable to owners of parent fell 22.7% to 118.2 billion yen.
Full-year forecasts for FYE2019 are revised from the previous announcement made on November 5, 2018, reflecting factors such as higher raw material costs and decreases in production output and unit sales volume as a result of production halt at the Gunma manufacturing plant due to a defect in the Electronic Power Steering control unit.
Revised forecasts: Consolidated unit sales of 996,000 vehicles, net sales of 3,120 billion yen, operating income of 185 billion yen, ordinary income of 193 billion yen, net income attributable to owners of parent of 140 billion yen.
Currency rate assumptions: 110 yen/US$, 129 yen/euro
Previous Forecasts for FYE2019 (Announced on November 5, 2018)
Consolidated unit sales: 1,041,000 vehicles
Net sales: 3,210 billion yen
Operating income: 220 billion yen
Ordinary income: 229 billion yen
Net income attributable to owners of parent: 167 billion yen
Currency rate assumptions: 110 yen/US$, 130 yen/euro
*1: With effect from this fiscal year (FYE2019), the Company has changed its accounting policies. In the new method, sales incentives are deducted from net sales, whereas they were previously recognized as SG&A expenses.
For comparison purposes, net sales and SG&A expenses of the previous fiscal year (FYE2018) have been recalculated according to the new policies. The recalculated figures of net sales and SG&A expenses for the first nine months of FYE2018 are 2,437.7 billion yen and 305.5 billion yen, respectively, a decrease of 126.9 billion yen each from the originally-reported figures (announced on February 8, 2018). There is no impact of the recalculation on profit figures of the previous fiscal year.
Forward-looking statements in this document including financial and other forecasts are based on the information available at the time of announcement and are subject to various risks and uncertainties that could cause actual results to vary materially.
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