Financial Results – Page 10192 – I wish I had more to offer

Sixt’s Q1 Revenue Hits $697M

Photo via Sixt. Sixt continued its growth path in Q1 of 2019, increasing its revenue 14.2% from the previous year to 620 million euros ($697.4 million). The continued increase in demand registered by the foreign vehicle rental companies contributed to this growth in particular. Earnings were affected by the additional expenses for expansion abroad, the ramp-up… Continue reading Sixt’s Q1 Revenue Hits $697M

Could buying ride-share app help secure JLR’s future?

“ Reeling from a £3.4bn quarterly loss, Jaguar Land Rover is sniffing around ride-share app Addison Lee. Is this what automotive manufacturers need to do to grab a piece of burgeoning ride-share market? The market for car-sharing is growing – image courtesy of Depositphotos. London’s second biggest taxi provider, Addison Lee, has been put up for sale by its… Continue reading Could buying ride-share app help secure JLR’s future?

Peugeot signals openness to deals after JLR report

The logo of Tata Motors is pictured at at the 37th Bangkok International Motor Show in Bangkok, Thailand, March 22, 2016. REUTERS/Chaiwat Subprasom/File Photo LONDON/PARIS (Reuters) – PSA Group said on Thursday it was ready to consider potential tie-ups, after the French carmaker’s shares briefly rose on a report that it was in advanced talks… Continue reading Peugeot signals openness to deals after JLR report

As Uber goes public, profitability will be the next challenge

Uber is hitting the public markets on Friday and it's valuation could top $90 billion. The world's biggest ride-hailing business is debuting six weeks after smaller rival Lyft.
But Uber is far from making money. It reported an operating loss of $3 billion in 2018 after losing more than $4 billion the previous year. Still, not all investors are scared away from Uber's red ink. Some analysts predict it will eventually turn a profit.
Watch the video to learn how Uber spends money and what it will take for the business to become profitable.

Magna Announces First Quarter Results

Sales of $10.6 billion decreased 2%, compared to global light vehicle production down 7%Excluding foreign currency translation and acquisitions net of divestitures, sales in each segment outpaced global light vehicle productionReturned $403 million to shareholders through dividends of $119 million and $284 million in share repurchases2019 outlook reduced largely to reflect higher expected costs on… Continue reading Magna Announces First Quarter Results

UPDATE 3-Panasonic flags first profit drop in 8 years, EV battery costs bite

TOKYO (Reuters) – Panasonic Corp warned profit this financial year would fall for the first time in eight years as costs to boost battery output rise and it moves to overhaul some businesses amid investor pressure to find new avenues of growth. FILE PHOTO: The Harley Davidson LiveWire electric motorcycle, developed in collaboration with Panasonic… Continue reading UPDATE 3-Panasonic flags first profit drop in 8 years, EV battery costs bite

Audi delivered around 140,300 automobiles to customers in April

AUDI AG delivered around 140,300 cars to customers worldwide in April, down 12.8 percent year-on-year. Model changeovers affecting volume models such as the Audi A6 continued to have an adverse effect. The new Audi Q3 has developed its potential in Europe so far, with strong growth in countries such as France (+109.0%) or Germany (+97.6%);… Continue reading Audi delivered around 140,300 automobiles to customers in April

Mitsubishi Motors switches gears to slower growth in post-Ghosn era

TOKYO (Reuters) – Mitsubishi Motors Corp forecast on Thursday a 19 percent fall in operating profit this year as it reins in aggressive growth amid slowing global car demand and charts a new course after the ouster of former chairman Carlos Ghosn. A Mitsubishi Motors logo is displayed at the 89th Geneva International Motor Show… Continue reading Mitsubishi Motors switches gears to slower growth in post-Ghosn era

Mazda forecasts continued global growths

Mazda Motor Corporation today announced its global full-year financial and sales results, reporting global sales of 1,561,000 vehicles during the twelve-month period that ended 31 March 2019. The ASEAN region again saw the highest year-on-year increase with unit sales up 18% to 137,000 vehicles. Mazda’s domestic market Japan also contributed to the growth with a… Continue reading Mazda forecasts continued global growths

UPDATE 2-Continental powertrain IPO could be delayed further after profit slides

* First-quarter net profit falls 22 pct to 575 mln euros * Expects market upturn in second half * Affirms guidance for operating margin of 8-9 pct * CFO says powertrain IPO depends on market conditions (Recasts, adds CFO quotes on powertrain IPO) HAMBURG/BERLIN, May 9 (Reuters) – German automotive supplier Continental’s spin-off of its… Continue reading UPDATE 2-Continental powertrain IPO could be delayed further after profit slides