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The new crown pneumonia epidemic has caused irreparable damage to the global automotive industry. According to the financial reports disclosed by multinational automobile enterprises in recent times, it can be said that it is "terrible". The operating income of multinational automobile enterprises in the first quarter generally has little impact, but the net profit has fallen sharply, including Ford, FCA, GM and other automobile enterprises.

Three American giants: GM becomes the only quarterly profitable American car company

Ford and FCA saw a sharp decline in first-quarter results, with Ford's operating income falling 14.9% to $34 billion and net profit plunging 268.5% to-$2 billion;FCA's operating income fell 16.0% to $22.4 billion and net profit plunging 433% to-$1.84 billion.

GM was the only Detroit Big Three automaker to avoid quarterly losses. GM's first-quarter operating income fell 6.2% to $32.7 billion and net profit fell 88% to $330 million, according to earnings reports. It is worth mentioning that Tesla, an electric vehicle in the United States, increased its operating revenue by 32% to US $6 billion in the first quarter, and its net profit increased by 102.28% to US $16 million.

Since the outbreak of the U.S. epidemic, U.S. auto companies have been shut down for about two months, causing cash flow emergencies in U.S. auto companies and having to weather the epidemic crisis by laying off workers and applying for loans. Of course, Tesla, which is committed to the development of electric vehicles, has become an exception, and Tesla's performance is still rising despite problems such as shutdown and sluggish demand. For now, the number of confirmed cases in the United States is still surging, but the United States has resumed production, and the three Detroit auto companies have resumed production on the 18th.

Three German giants: Volkswagen Daimler net profit plummeted

Affected by the epidemic, Daimler, BMW and Volkswagen's first-quarter performance declined this year. Among them, Daimler's operating income fell 6% to 37.2 billion euros ($40.5 billion), net profit fell 92 percent to 168 million euros BMW's revenue edged up 3.5% to 23.3 billion euros ($25.4 billion) and net profit fell 2.4% to 574 million euros ($626 million); Volkswagen's revenue fell 8.3% to 55.1 billion euros ($60.1 billion) and operating profit plummeted 81.4% to 900 million euros ($980 million).

According to the financial reports of the three automobile enterprises, BMW is the only automobile enterprise that realizes the growth of operating income, and the decline of net profit is also relatively low. However, BMW said car sales may continue to stagnate at present and that the negative impact of the epidemic is expected to be greatest in the second quarter.

Four Japanese car companies: Subaru performed slightly better than other Japanese car companies

Toyota's revenue fell 8.4% year-on-year to 7.1 trillion yen ($66 billion) in the first quarter, and net profit fell 86% to 63.1 billion yen ($590 million). Despite Toyota's ample cash reserves through a difficult year, Toyota sought a $9 billion credit line from Japan's Sumitomo Mitsui Bank and others to cushion the impact of the epidemic.

Honda's operating income fell 14.6 percent to 3.46 trillion yen ($32.09 billion) and net profit fell 126.8 percent to-5.6 billion yen ($274 million). Although Honda actively cut costs and reduced marketing, management, R & D and other expenses, it is still difficult to mitigate the impact of the epidemic on performance.

1-3 Mazda's revenue fell slightly by 7% year-on-year to 874 billion yen ($8.13 billion) and net profit fell 173% to 20.3 billion yen ($188 million), as sales in major European and American markets slumped due to the spread of the new crown pneumonia epidemic. Mazda's cash flow at the end of March was-92.7 billion yen ($867.8 million), its fourth consecutive quarter of negative cash flow.

Subaru's first-quarter operating profit revenue rose 12% year-on-year to 859.5 billion yen ($7.97 billion), and net profit rose 100% to 40.9 billion yen ($379 million); although the impact of the epidemic on performance was temporarily limited, the company has secured a 200 billion yen credit line from lenders to cope with uncertainty about the future.

Among the four Japanese automakers, Subaru performed slightly better than other Japanese automakers, with operating profit and net profit growing, even though the impact of the epidemic in the first quarter was severe, but the performance was slightly stable. The performance of other Japanese car companies has declined to varying degrees. Even Toyota, which has the strongest earning ability in the world, cannot avoid the impact of the epidemic, and Honda and Mazda cannot escape the crisis brought by the epidemic.

Korean car companies: Hyundai performance hit the lowest level in nearly 10 years

Operating revenue rose 5.6 percent to 25.3 trillion won ($20.4 billion) in the first quarter, while net profit fell 42 percent to 552.7 billion won ($446 million), the lowest level in a decade, according to Hyundai's earnings report. As for Kia Motors, first-quarter net profit also fell 59 percent to 226 billion won ($182 million). Kia Motors said that "production and sales in major regions have stagnated since the end of March, and business conditions will deteriorate further in the second quarter."

Hyundai's sales fell 11.6 percent to 900,000 units in the first quarter, the first time in nine years that sales fell below 1 million units. Hyundai relies heavily on exports to Europe and America, but the epidemic in Europe and America continues so far, and Hyundai's second-quarter performance will face a greater test.

The epidemic caused a number of overseas automobile enterprises factories to be forced to shut down, coupled with the downturn in the automobile market, so that the performance of major multinational automobile enterprises plummeted at the same time, cash flow is also tight, many automobile enterprises through loans to survive the epidemic crisis. However, although the epidemic has plunged the automobile industry into chaos, causing irreparable impact, but under the dual influence of the epidemic and the market, the true strength of automobile enterprises can also be seen more clearly.

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