2nd Quarter Automotive Financial Results Roundup

Last week, we reported on the financial results for Renault, Volkswagen Group, Nissan, Tesla, Toyota, Daimler, and Ford. It took a week for all of those results to be released. Today, Honda, Mazda, Mitsubishi, Chrysler, Audi, Porsche and Fiat all released their results at once. Instead of writing separate posts for all of these companies, we are lumping all of their results together here for easier comparison. 

Whenever data are compared to last year, the second number is in the same period as the first number unless otherwise noted. 

HondaHondaJapan, 1948 > present102 models
2419 photos
10 videos

Honda had a great quarter. Total revenue was 2.4359 trillion yen ($31.1 billion) up 42.1%. Part of this increase can be explained by rebounding from the Japanese tsunami. Income after taxes was 176 billion yen ($2.249 billion), which Honda says is a 780% increase over last year. That shows pretty succinctly how much Honda lost and how far it has come in a year. Net profit was 131.7 billion yen ($1.675 billion), which is 410% more than last year. 

Honda says that there are uncertainties for the rest of the year including in Europe and the dollar-to-yen exchange rate, but it says that it is on track to be profitable this year. 

Honda sold 3.911 million motorcycles and 999,000 thousand cars in the second quarter worldwide. It is forecasting that it will sell 16.6 million motorcycles and 4.3 million cars this year.

MazdaMazdaJapan, 1920 > present80 models
2325 photos
7 videos

Mazda posted total revenue of 506.6 billion yen ($6.476 billion) up 24.1%. It posted an operating profit of 1.8 billion yen ($23 million), which is up compared to a loss of 23.1 billion yen. Net income was a loss of 6.5 billion yen ($83 million) compared to a net income loss of 25.5 billion yen last year. 

Mazda sold 300,000 cars worldwide in the quarter up 6.5%. 

MitsubishiMitsubishiJapan, 1917 > present72 models
1257 photos
5 videos

Mitsubishi had total revenue of 419.3 billion yen ($5.34 billion) down 3% and profit of 19.96 billion yen ($254.4 million) up 400% from last year. Operating profit was 14.9 billion yen ($190.4 million) up 22%.

It sold 239,000 cars during the quarter, which was down 11%. 

Chrysler had revenue of $16.8 billion in the quarter up 23%. Net income was $436 million up 141%. It sold 630,000 cars in the quarter worldwide compared to 514,000 a year ago. 

Chrysler paid off a significant amount of debt as well. It now holds $432 million in debt compared to $2.1 billion last year

Chrysler was one of the few companies in this group that gave data for the first six months as well. It has $909 million in net income and 33.2 billion in revenue. 

AudiAudiGermany, 1909 > present83 models
8213 photos
27 videos

Audi did not report its data in terms of the second quarter but instead in terms of the second half of the year. That means that it is combining the first and second quarters in its results. 

Audi had €25 billion ($30.8 billion) in revenue up 16.2% for the first half and €2.9 billion ($3.572 billion) up 13.2% in operating profit. It sold 733,237 cars in the first half of the year, 12.3% over the first half of 2011.

Audi plans to sell 1.4 million cars for the entire year.

PorschePorscheGermany, 1931 > present43 models
4639 photos
29 videos

Porsche also reported its results in terms of the first half of the year and not just the second quarter. 

Porsche posted total revenue of €6.76 billion ($8.331 billion) up 29.3%. It sold 68,940 cars worldwide up 22.5%. Operating profit was €1.26 billion ($1.553 billion) up 20.6%. Porsche says that it has an average profit margin of 18.7% on each vehicle it sells. 

Porsche is expecting that it will outperform its results from last year. It is planning more variants of the 911, the Macan and the 918 for 2013.

The US is Porsche's largest market. It sold 16,864 cars there in the first half of the year. That is nearly a quarter of its total volume. It sold 15,638 cars in China, which is its second largest market. The two markets are 47% of Porsche's total sales. 

FiatFiatItaly, 1899 > present159 models
4864 photos
35 videos

Fiat had revenue of €21.5 billion for the quarter compared to €13.153 billion last year. However, Fiat counts its investment in Chrysler in that number. Excluding Chrysler, Fiat had €9.2 billion in revenue, a 7.5% drop. Fiat blames on drop on a weakening Europe.

It had €102 million in income for the quarter compared to €1.664 billion last year. Net profit after taxes for Fiat was a loss of €246 million for the quarter compared to a profit of €1.380 billion last year. These figures are just for Fiat and have Chrysler removed. 

For the first half with Chrysler removed, Fiat has €17.925 billion in revenue, €114 million in income and a €519 million loss. 

Despite the major drop in profit, Fiat shipped 1.102 million cars in the quarter including Chrysler compared to 739,000 in the same period last year. 

FerrariFerrariItaly, 1947 > present233 models
5131 photos
37 videos

As part of the Fiat financial results, it also announced the results for Ferrari and Maserati. Ferrari had €652 million in revenue, a 10.7% increase and profit of €92 million, up 12.3%. 

Ferrari shipped 1,931 cars in the second quarter, a 4% increase. North America is its largest market where it shipped 509 cars in the quarter. It also sold 244 cars to China and Hong Kong.

MaseratiMaseratiItaly, 1914 > present62 models
696 photos
7 videos

Maserati had revenue of €171 million, up 2%, and profit of €11 million, up €2 million from 2011. It sold 1762 cars in the quarter. 

The Rest

Of the major auto companies, only BMWBMWGermany, 1918 > present87 models
8471 photos
43 videos
and GMGMUnited States of America, 1998 > present8 models
240 photos
have not yet released their results. We will report on them when they are released.