Volkswagen’s functionality is poor compared to Toyota, the two largest automakers in terms of sales.
According to a report through the Automotive Research Centre (CAR) in Duisberg, Germany, BMW lost 1134 euros ($1354) consisting of the car in the first part of the year, the Mercedes de Daimler lost 599 euros ($715), Volvo 343 euros ($410) and 313 euros ($374).
Professor Ferdinand Dudenhoeffer, of the report, said knowledge of BMW and other brands revealed past invisible weaknesses that will require action.
“BMW, with historically smart profits, suffered its historically highest losses this quarter. BMW has introduced an austerity program and announced task cuts. (Data) show that hidden “in BMW, the Corona crisis” was revealed, Dudenhoeffer said. .
BMW surprised investors with large red numbers, the first in more than 10 years. BMW lost 498 million euros before tax ($600 million) at the time of the quarter. BMW’s EBIT (earnings-up earnings-and-tax earnings) for cars fell to minus 10.4% from more than 6.5% in the same quarter last year, but remained consistent with a forecast made in May that the margin would be between 0 and 3% by the year. as a whole. BMW remained in the dark in the first half.
“Equally unexpected the loss of the VW logo consistent with the vehicle (-313 euros) and the automotive department of the VW Group (-415 euros) compared to the world’s largest car manufacturer, Toyota,” Dudenhoeffer said.
Toyota lost cash in the last quarter, but in the dark in the first half and made a profit of 533 euros ($636) commensurate with the vehicle. VW’s sales fell 28% in the first half and Toyota’s sales fell 29%, but the Japanese company still benefited.
“It also shows that the VW Group will have to make more changes than Toyota. And VW has benefited greatly from its operations in China,” Dudenhoeffer said.
“Tesla fits with a very serious competitor in the high-end market. Its progression to BMW, Audi and Mercedes is staggering. Tesla is far from other high-end brands (in terms of profits), with the exception of Porsche. A start “The increase in massive investment in new factories is overshadowing the high-end brands established in the Corona crisis,” he said.
The other functionality of Ford Global and GM more regional, showed that the latter was more adapted to the crisis.
“GM has focused on North and South America as well as China. Ford is more globalized with Europe, but more efficient, as shown through vehicle-consistent gains or losses in the first half of 2020,” according to Dudenhoeffer.
In the first part of 2020, Volkswagen lost nearly $1 billion, but expects to remain in the dark during the year. Mercedes’ parent company, Daimler, reported an operating loss of 1.68 billion euros at the time of the quarter ($1.95 billion). Volvo, owned by Geely Automobile Holdings Ltd of China, reported an operating loss of nearly $100 million in the first half, following a profit of $5.5 billion on the same was 2019. Renault reported a net loss of 7.290 million euros ($8.6 billion) in the first half compared to an operating profit of 1.5 billion euros at the same time last year.
The PSA Group remains firmly in the positive column. PSA, which owns the Peugeot, Citroen, Opel and Vauxhall brands and is negotiating a merger with Fiat Chrysler Automobiles, said its first-half profit fell to 595 million euros ($700 million) from 1.830 million euros ($2.2 billion) in the first half. . it was in 2019.
As a former European Reuters correspondent, I spent a few years writing about the industry. I’ll penetrate the hype and arrogance and find
As a former European automotive correspondent for Reuters, I spent a few years writing about the industry. I’m going to get to the hype and bragging from the corporations and find out what those gigantic corporations are doing. I also like to drive your adorable machines and your maximum modesty. I’ll tell you if the generation works too.