August 2nd, 2011 by Darren Cottingham
Despite the global recession and continued economic uncertainty, the world’s premium car brands are enjoying big sales and profits. The reason comes from the emerging markets such as China and Russia where expensive luxury and performance cars are in hot demand.
Ferrari, Bentley and Mercedes-Benz have all announced record profits recently, and now Porsche is joining the fray with the announcement that its profits are up a staggering 59 percent compared with the same period last year.
In the first half of 2011, Porsche was busy generating an operating profit of $1.54 billion USD. There was a 26.3 percent increase in sales to 56,272 vehicles, and with the all-new 2012 Porsche 911 expected later this year, sales figures are expected to continue to climb. Continue reading “Porsche profits up a massive 59 percent” »
May 12th, 2011 by Darren Cottingham
Like all Japanese carmakers, Toyota has been severely affected by the March 11 earthquake that saw huge damage and loss of life in Japan.
Despite plant shutdowns the world’s largest carmaker still announced profits of $314 million USD for the first three months of 2011, down 77 percent versus the same period in 2010. The $314 million profit is only a fourth of what analysts were expecting Toyota to make. With very low sales through the quarter, profits have been affected as a result.
While the announcement is disappointing for Toyota, things are set to get worse with even lower numbers expected for the period through to June. Supply issues are still hurting Toyota, with many plants running at only 50-percent capacity and some not running at all. These supply issues will see less stock being shipped to big markets like the U.S. and China which will lead to much lower revenue.
Toyota is fighting hard and says that production should ramp up to 70 percent of capacity by June, which is ahead of previous estimates. Continue reading “Toyota’s profits drop 77% after Japan earthquake” »
September 30th, 2010 by Darren Cottingham
Porsche announced yesterday that this year it has achieved the highest turnover in the company’s long history. It’s an amazing result and bucks the trend of falling sales on luxury vehicles that many automakers have experienced. According to Porsche’s preliminary figures, the German company had a growth of 17.9 percent to 7.79 billion Euros this year. Porsche’s sales this year have also risen by 8.8 percent to 81,850 (previous year: 75,238) vehicles.
Porsche’s success can be attributed to more than just an expanded model range with significant growth in sales experienced outside the European and North American markets. Other markets accounted for 25.8 percent growth to 25,283 vehicles. With 11,724 units being sold in the growing Chinese market alone.
Porsche’s success was generated in part by the new model Cayenne and Panamera but the new 911 Turbo and Turbo S have also chipped in and boosted sales.
Click here to read a Car and SUV review of the Porsche Panamera (pictured).
June 9th, 2010 by Darren Cottingham
Toyota New Zealand has taken advantage of a rebound in the motor vehicle market, with a 20 per cent increase in sales year on year after the first five months of 2010.
Despite a turbulent last six months with vehicle recalls sales analysis to the end of May show Toyota have accounted for 20.3 per cent of NZ new vehicle sales. This marks an expansive lead over the company’s nearest competitor, Holden on 11.2 per cent.
Steve Prangnell, General Manager Sales and Operations, says a 40.9 per cent share of commercial vehicle sales in May was an exceptional result for Toyota — the highest commercial sales monthly result since June 2008.
Thanks to recent Fieldays specials Toyota sold 481 Hilux vehicles in May, with the next highest selling car being Suzuki’s Swift (309). Hilux sales also out-stripped that of its nearest ute competitor, the Nissan Navara, by more than two to one in May.
Toyota accessory sales were also strong. A large proportion of the $1.3 million sales being Hilux buyers fitting their new utes out with extras like towbars and mag wheels.
Nationally, the market for new vehicles in 2010 has picked up dramatically from a difficult 2009, rising 13 per cent across all manufacturers in the year to May compared to last year.
To find out more about the Toyota product range and the Fieldays Hilux special, click here to visit the Toyota NZ website.
May 11th, 2010 by Darren Cottingham
Ford Australia has just announced a net after-tax profit of $13 million AUS for 2009, which signals a huge turnaround from its $274m loss in 2008. The profit puts the Aussie carmaker in the black for the first time since 2005.
Marin Burela, Ford Australia big cheese, said the turnaround was a direct result of “decisive and immediate action” taken at the beginning of the global financial crisis in late 2008.
“We acted quickly to significantly restructure our business in line with the prevailing market conditions,” Mr Burela said. “We significantly changed our sales and production focus to build cars based on demand and introduced more fuel efficient vehicles like the Fiesta ECOnetic.”
“The great work of our product development team paid off as the award-winning FG Falcon sedan increased its share of the large sedan segment from 25 per cent to 34 per cent over the year.”
After Ford Australia employed a strict ‘build to order’ system, Falcon and Territory production numbers dropped by around 7000 units. This saw total sales for the year end at 99,279 vehicles – 9285 fewer than in 2008.
Revenue actually fell in 2009 by $200 million to $3.1 billion, but higher margins meant that Ford’s Broadmeadows assembly plant was now profitable.
Ford Australia is expecting a further sales growth in 2010 of 15 to 20 percent, but is yet to announce any plans for new models and facelifts.
While the company’s return to profit is impressive and good news, Ford Australia isn’t out of the woods yet. It is at a crossroads in the current product cycle and with minimal – if any development funds coming from the States for Australian-market-only models, it will still need major profit growth if its unique Aussie platforms are to survive the long term. Ford’s global ‘One Ford’ policy is still likely to have a defining effect on the future of Aussie Ford as we know it.
April 29th, 2010 by Darren Cottingham
Honda has now joined automakers like Kia and Ford by posting solid profits during the fourth quarter of the company’s fiscal year. Now successfully weathering the economic recession storm, Honda has managed to see profits rise by 28 percent over the same period last year. This announcement marks the fourth-straight quarter of profits for the company a operating loss at the end of March, 2009. The reason behind the recent profits could be put down to hybrid sales.
In the Japanese domestic market, sales have been bolstered by the incredibly popular CR-Z Hybrid (pictured). Honda has already received over 7,000 orders for the two-door hatchback, which accounted for more than half of the vehicles the company had planned on selling in its home market.
Honda also claims its quick recovery is helped by having a range comprised mostly of fuel-efficient vehicles, something buyers in a global recession appreciate. After this good news, Honda expects to see growth continue through the rest of 2010.