AutoBeta(AutoBeta.net)10/29 Report--

Due to the impact of the COVID-19 epidemic, global automakers experienced a dismal first half of the year, resulting in a sharp decline in sales, operating income and profits, and even into a loss-making state of operation. In the second half of the year, a number of car companies are committed to sales growth, cost-cutting and other aspects to recover the losses in the first half of the year. According to incomplete statistics, including PSA, Daimler and other auto companies in the third quarter results showed varying degrees of growth.

PSA Group: auto revenue increases 1.2%

On October 28th, PSA Group (Peugeot Citroen) announced its results for the third quarter of 2020. During the reporting period, operating income fell 0.8% year-on-year to 15.453 billion euros, of which the group's automotive business revenue rose 1.2% year-on-year to 11.964 billion euros (about 94.562 billion yuan). Global car sales fell 12.7% to 589000 vehicles in the third quarter.

Although the group's global automotive business has grown, the Chinese market is an exception. According to data, DPCA sold only 10178 vehicles in the third quarter, down 63.68 per cent from the same period last year.

At the 2020 Cultural Festival, DPCA announced its "Yuan +" plan, which will launch 14 new models in the next five years to boost the Chinese market in terms of products, marketing, services and operations.

In addition, PSA has confirmed that it will provide 50 million euros in financial support to DPCA in the fourth quarter. From 2037 to 2037, PSA Group will provide hundreds of millions of yuan to DPCA every year for the brand image construction and channel development of Dongfeng Peugeot and Dongfeng Citroen.

Daimler: net profit of 17 billion yuan in the third quarter

According to the latest financial data released by Daimler Group, Daimler Group's global sales in the third quarter were 772700 vehicles, down 7.9% from the same period last year; realized revenue was 40.3 billion euros, down 6.9% from the same period last year; and profit before interest and tax was 3.07 billion euros, up 14.8% from the same period last year. At the same time, net profit increased 22% to 2.16 billion euros (17.072 billion yuan).

"the company's strong performance in the third quarter is further proof that we are on the right path to reduce costs and increase efficiency, and positive growth is expected to continue in the fourth quarter," said Harald Wilhelm, Daimler's chief financial officer.

Mercedes-Benz, the profit pillar of the Daimler Group, sold about 614000 Mercedes-Benz passenger cars worldwide in the third quarter, of which 223600 came from the Chinese market.

In recent years, the Chinese market has become Mercedes-Benz's largest single market in the world, and Daimler's performance has exceeded expectations thanks to a rebound in demand in the Chinese car market. As the global trade situation intensifies, the Mercedes-Benz brand will continue to focus on growth in China, said Daimler CEO Conlinson. China is expected to remain Mercedes-Benz's largest growth market over the next decade.

Jaguar Land Rover: third quarter pre-tax profit of 65 million pounds

Thanks to the good performance of the Chinese market, Jaguar Land Rover had revenue of 4.4 billion pounds in the third quarter. After spending 531 million pounds, Jaguar Land Rover still maintained 463 million pounds in cash flow and 65 million pounds in pre-tax profit (about 568 million yuan).

Jaguar Land Rover sold 113569 vehicles in the third quarter, with sales in China rising 14.6 per cent in the second quarter, according to financial reports.

It is not difficult to see that Jaguar Land Rover achieved a significant pick-up in turnover in the second quarter, which has a lot to do with the sales growth of Jaguar Land Rover in the Chinese market. However, at present, the domestic luxury brand market is mainly BBA and second-tier luxury brands to occupy most of the market share. Although Jaguar Land Rover is showing growth in the domestic market, its sales are still not satisfactory, and it will also stimulate sales performance by launching more new models.

Tesla: make a profit for five consecutive quarters

Tesla, which is committed to the development of electric vehicles, posted revenue of $8.771 billion in the third quarter, up 39 per cent from a year earlier, while net profit attributable to ordinary shareholders was $331 million, up 131 per cent from a year earlier. This is the fifth consecutive quarter that Tesla has made a profit and is expected to make a profit for the first year.

The growth of Tesla's car sales has the most direct impact on revenue. Tesla delivered about 140000 vehicles in the third quarter, of which 15300 were delivered by Model Spicer X, down 13 per cent from the same period last year. 124000 vehicles were delivered, an increase of 56 per cent year-on-year.

Truss's sales target for this year is 500000, which has been completed by the end of the quarter, which means that Tesla needs to deliver more than 181700 vehicles in the fourth quarter, but there is obviously still a lot of pressure to increase the level of 40, 000 vehicles in the fourth quarter.

As the market gradually recovers, a number of car companies will focus on sales growth and cost-cutting to make up for first-half performance losses, but overall, even if growth is strong in the second half of the year, annual losses are inevitable.

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