20 Auto Companies’ Q2 Financial Reports have been released recently

Recently, major global auto giants have released their Q2 financial reports, covering revenues, profits and other items. The following part will give a brief introduction on such companies’ performances.

Daimler Group meets growths in both sales volume and profits, with sales volume in Chinese market increasing 32% in the past half year. Its global sales volume exceeds 760,000 units in Q2, increasing 7% with the same period of last year. The sales volume in Chinese market (Hongkong included) increases 22.3% to 41,200 units in June, and also grows 32.0% to 229,000 units in the first half of year. The total sales revenue reaches Euro 38.6b, increasing 2.9% with the same period of last year. EBIT reaches Euro 3.97b, increasing 5.6%.

BMW Group has a steady growth, harvesting the greatest profit among all German auto companies. The sales of three high-level brands, including BMW, MINI and Rolls Royce, increase 5.7% to 605,500 units. Group revenue increases 4.5% to Euro 25.01b in Q2, in which auto business revenue increasing 5.6% to Euro 2.29b.

Influenced by cheating emission scandal, Volkswagen has a declining profit but market demand is still high. The total revenue reaches Euro 56.97b, increasing 1.7% with last year. Q2 profit decreases 45.6% to Euro 1.90b.

Supported by Chinese market, Ferrari Group has a 26% growth of EBIT, reaching Euro 811m. This year, Ferrari focuses its products in special-version models, making great contribution to its group profit.

PSA’s revenue decreases 0.9% to Euro 2.78b in the first half year, while profit doubling to Euro 1.21b. Renault Group’s sales volume increases 13.4% to 1.57m units in the first half year, and the revenue increases 13.5%. Volvo’s performance is similar as Renault. JLR’s sales volume increases 64% in the previous six months.

Japanese brands have worse performances, with Toyota, Honda, Mitsubishi, Mazda all meeting declining profits. American brands, including Ford, Fiat Chrysler, Tesla, face the same situation with Japanese brands. Korean brand Hyundai has a declining profit, but KIA’s Q2 operating profit increases 18.5% with the same period of last year.

Chinese brands have good performances. Geely’s sales volume and profit increase 11% and 31%, reaching 280,300 units and RMB 18.09b respectively in the previous six months. BAIC Motor’s sales volume and revenue all meet growths of 36.7% and 34% respectively. SAIC Motor’s net profits reaches RMB 156.06b in the first six months, staying to be the China’s largest auto company.