AutoBeta(AutoBeta.net)08/08 Report--

As a result of the epidemic, global carmakers' losses are also expected, and Volkswagen, the world's largest Volkswagen group by sales, also posted a loss of 2.4 billion euros in the second quarter. Chain effect continues to break out, Honda, Daimler, GM, FCA, Nissan, Renault and other car companies reported huge losses, the second quarter is undoubtedly the most difficult quarter. Judging from the current financial results, only Toyota, PSA Group, Suzuki and Ford have achieved "difficult" profits.

Toyota: a profit of 9.8 billion yuan

On Aug. 6, Toyota released its second-quarter results. According to the financial report, Toyota achieved revenue of 4.6 trillion yen in the second quarter, down 40.4% from a year earlier, while net profit was 149.448 billion yen (about 9.83 billion yuan), down 76.3% from a year earlier.

Even if profits plummeted, Toyota's result was better than market expectations, after analysts expected Toyota to post a quarterly loss. Toyota said that although the epidemic led to a sharp decline in global production and sales, the company finally ensured a profit in the second quarter through measures such as reducing costs.

The Chinese market saved Toyota's performance. Toyota's global sales fell 50 per cent year-on-year to 1.158 million vehicles in the second quarter, with sales in Japan falling 30.7 per cent and North America plummeting 61.7 per cent year-on-year.

Toyota resumed sales growth in China in the second quarter, reporting that Toyota's revenue in the Chinese market increased by 20.2 billion yen in the second quarter, bringing its total revenue to 55.8 billion. In addition, Toyota's sales in China are on the rise.

Toyota also said it expected its net profit to fall 64.1 per cent to 730 billion yen in the fiscal year to March 2021.

PSA Group: a profit of 4.9 billion yuan for half a year

French carmaker PSA (Peugeot-Citroen) reported results for the first half of 2020 and made a profit despite the outbreak.

According to the report, the group's operating income in the first half of 2020 was 25.12 billion euros, down 34.5% compared with the same period in 2019, while the operating income of the group's automobile business was 19.595 billion euros, down 35.5% compared with the same period in 2019. Consolidated net profit was 376 million euros, a decrease of 1.672 billion euros compared to the same period in 2019. The net profit attributable to the parent company was 595 million euros (about 4.89 billion yuan), a decrease of 1.237 billion euros compared with the same period in 2019.

In terms of sales volume, PSA Group sold a total of 1.03 million vehicles in the first half of 2020. The European market of the PSA Group as a whole fell 39 per cent in the first half of the year. In the Chinese market, according to wholesale data released by the Federation of passengers, the cumulative sales of PSA joint venture DPCA in China in the first half of 2020 were 23000, down 64.1% from a year earlier, down 91.1% from a year earlier.

Ford: return on Investment to make a profit

Ford reported a net profit of $1.117 billion in the second quarter, including a $3.5 billion investment in Argo AI, a self-driving company. Excluding some of the gains, its adjusted profit before interest and tax was a loss of $1.9 billion.

In the second quarter, Ford shipped 645000 vehicles worldwide, down 53 per cent from a year earlier. Ford China, boosted by growth in Ford's SUV, commercial and Lincoln brands, sold 158589 vehicles in the second quarter, up 3 per cent from a year earlier.

Ford said it expects adjusted EBIT in the third quarter to achieve its strongest performance of the year, and plans for the launch of the new Fmur150, the all-electric Mustang Mach-E and the new Ford Bronco are progressing steadily in the third quarter and will be a key factor in accelerating Ford's transformation and improving profits.

In the face of the strong destructive force of the epidemic, a serious blow to the performance of the major automakers is inevitable. Many automakers have made operating losses, and only some enterprises have made difficult profits. With the gradual recovery of global auto business in the second half of the year, automakers are still expected to reverse their declining performance.

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