World wide Ford made $1.649 billion profit which equals 41 cents per share.
Debt at Ford was reduced by $1.3 billion in 2011 to make the remaining debt due by Ford.
Ford’s profit came from North America. They were down in Europe. Ford says this is a seasonal effect.
Seasonality could be that the third quarter of every year Europe goes on vacation. Wholesales in Europe during the third quarter were up year over year by 17,000 and up in the first nine months by 35,000. They were down 3rd quarter over 2nd quarter by 65,000.
Ford of Europe
Q2 — $322 million profit
Q3 — $196 million loss
Worldwide Ford $1.687 billion profit
Q2 — $176 million profit
Q3 — $306 million loss
Ford’s reliability dropped from 10th in the Consumer Report’s survey to 20th in 2011.
Q2 .2 billion loss 443,000 sales
Q3 .6 billion loss 389,000 sales
Q4 .6 billion loss 427,000 sales
Q1 broke even 429,000 sales
Q2 .1 billion profit 483,000 sales
Q3 407,000 sales
All financial numbers for GME (General Motors Europe) are EBIT – earnings before income tax.
November 9th, 2011 General Motors will announce Q3 financial numbers.
Analysts say they expect General Motors to come out at 94 cents per share.
General Motors high this year was $93.48, low was 19.05
Fords high this year was $18.97, low was 9.05
Chrysler Groups third quarter 2011 net income totaled $212 million compared with a net loss of $84 million a year ago.
Third quarter net revenue was $13.1 billion, up 19 percent from a year ago.
Modified Operating Profit grew to $483 million in the quarter, from $239 million a year ago.
Chrysler Group ended the quarter with $9.5 billion in Cash versus $10.2 billion at June 30, 2011.
New four-year national labor agreement with the UAW ratified on October 26.
This is the largest profit Chrysler has made since being taken over by Italy’s Fiat group.
Chrysler went up in Consumer Reports survey and is the highest of the Detroit 3 in the standings.
The numbers for the Asian companies have come in from April, 2010 (the month after the Tsunami) to September, 2011;
According to Automotive New
Nissan up 11.5%. Nissan had an all time high of 2.25 million unit’s of production globally.
Toyota was down 15%
Honda was down 32%
Mazda was down 11%
Renault reported an 11.9% increase in revenues and record third-quarter unit sales. The Group set a sales volumes record in the third quarter with 632,412 unit’s, an increase of 6.7% compared to the third quarter 2010, driven by growth in markets outside Europe, especially Brazil and Russia.
Automotive News says that Kia posted an 8% drop in third quarter net profit.