Because fewer cars are sold in the US, but earn more –

Also in the US, the major car companies’ quarterly reports tell stories of a sector in difficulty, which reduces sales while maximizing profits

Second part of the analysis of the quarterly reports for the automotive sector. This time we look at the giants in the US sector, which host some of the most popular brands globally. These data also tell us what we have already read in them from the old continent: the situation is unusually difficult and has for several months now pressured manufacturers to stop production of less convenient models to focus on products launched for recently (costs). development must be depreciated rapidly), on electrified vehicles (necessary both to remain competitive and to pursue incentives and reduce fleet emissions to avoid fines), but above all on advanced, luxury models or just those with more exclusive features. These are the main ways in which manufacturers, while selling much less for the problems we know (closures for Covid, difficulty supplying the assembly line, difficulty with logistics) have earned more on each sale. Also because if the big American brands were hoping to see sales restart quickly thanks to the green incentive plan promised by the Biden administration, the war between Russia and Ukraine could postpone everything …


Based on GM, the group recorded an increase in revenue, which, although lower than that calculated by analysts, remains in double digits (11% for the period) of $ 36 billion, while its net profit has fallen slightly. , by 3%, to $ 2.9 billion. All this, however, against a drop in sales from 1.74 million to 1.43 million units. Tesla writes history in itself, the only one that with 305,407 vehicles records a consistent increase in production (+ 69% year-on-year), starting from much lower numbers. At the same time, the House is led by Elon Musk reported revenue of $ 18.756 billion compared to 10.389 billion a year earlier (+ 81%) with a net profit of 3.318 billion up vertically compared to 438 million at the end of March 2021. This of course does not mean that it is immune to difficulties , which grabs the others, especially on the assembly line side, with stop-and-go forced (for example, in Shanghai for Covid), which could reduce the contribution from the gig factories in Berlin and Texas. Much will be clearer by the next quarter. Ford, more than economic numbers, is currently being talked about for the massive share sale of Rivian Automotive, a US startup of electric pick-ups that resembled Tesla’s new rival.


The young company that pressured GM to drive off-road electric cars seemed to be the protagonist of this new, greener era, and by the end of the year 2021, it was listed on Wall Street with a maximum listing. Then the problems started, due to the lack of raw materials, which caused us to miss the productivity targets and skip several orders. As you know, Rivian has already weighed on the quarterly Amazon, which recorded a net loss of $ 3.8 billion in the first quarter of 2022, including a loss of $ 7.6 billion relative to the value of its stake in the electric car maker. For its part, the other major shareholder in the start-up, Ford, first sold 8 million shares and then in another session another 7 million.

To scare investors, in all likelihood, not so much the fact that Rivian is in the red (it said it recorded a loss of almost $ 5 billion in 2021), common ground for all startups, but that the new car brand was forced to cut sharply in production and admitted he expects to produce only 25,000 electric pickups and SUVs this year. Instead, a progressive withdrawal of Amazon should be averted. Both because it would risk ruining the title irrevocably, and because the e-commerce giant is waiting for mass production of electric vans to begin replacing its fleets.


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