THE WEEK THAT WAS: Ford nets billions, Toyota recalls another million...
A mixed week of mostly good news, industry niggle in France and financial woes at PSA excepted. Ford booked a healthy US$5.7bn full year net profit for 2012 - our resident commentator weighed in on that here - and Toyota announced yet more recalls totalling about 1.3m units - mostly Corollas but also some Lexus IS. Airbag control modules and wiper bolt tightness.
According to one analyst, the airbag recall will hit Toyota by about $55m, and, once again, the industry reckoned said the unit count was high as a result of using common parts across so many models.
Chryler also reported a good set of 2012 results, propping up majority shareholder Fiat which did reasonably well outside Europe. Fiat's growing debt reportedly is concerning some investors, and the news of the updated product plan was also of interest - get ready for a Ram-badged Fiat Doblo van.
Outside Europe, investments in new factories and facilities are continuing - just this week we had Maruti Suzuki talking about a fourth plant in India, multiple planned plants in Brazil as new entrants, especially the Chinese, digest and act on the new government local production blueprint, Isuzu's plans for an Indian plant, paint and press shop improvements at GM's Fairfax plant in Kansas and expansion of its powertrain engineering facility in Pontiac (the city, not the [RIP, sob] brand), Michigan. Mazda also announced a new transmission plant in Thailand and Nissan opened a new paint plant at Smyrna, Tennessee, replacing the shop opened with the plant back in 1983.
Have a nice weekend.
Graeme Roberts, Deputy Editor, just-auto.com
Quarterly results season is with is again with some passable numbers from the biggies already in and more to come. As usual, we have grouped the coverage together in one handy spot....
The Toyota group sold 4.91m units in the first half of 2013, making it the world's top car seller in the period for the second straight year....
Nissan Motor plans to churn out about 40% more luxury vehicles at its factory in Tochigi Prefecture this fiscal year in anticipation of increased exports to North America....
In one of the biggest automotive recalls in India, US car major General Motors on Wednesday red flagged 114,000 units of its Chevrolet Tavera utility vehicle produced since 2005 for a faulty emissions...
Ford reported Q2 2013 pre-tax profits of US$2.6bn after its North America region, set records for both Q2 and H1 results and Asia Pacific Africa set a quarterly record. South America returned to profi...
Toyota said its vehicle production subsidiary in Indonesia, Toyota Motor Manufacturing Indonesia (TMMIN), is to start producing engines for vehicles other than the IMV series at a new engine plant due...
- Recalls redux - the week that was
- Audi S8 plus - if 585PS just isn’t enough power
- Brexit could lift UK auto production – Asian view
- Driving the new Q30, and Infiniti future models
- Ford and Lincoln future models into the 2020s
- Mixed reaction to Tesla's latest plans
- General Motors re-thinks India strategy - report
- Volkswagen emissions scandal hits Porsche SE
- General Motors Europe in profit as records tumble
- Mahle opens vehicle engineering centre in UK