Many global automakers finished the second quarter with losses, and those of them who managed to maintain profits, it has dropped significantly. Although in recent years the situation in the automotive market improving, analysts predict a strong decline in sales and the year-end.Over the last week most major global automakers presented the financial statements for the second quarter: she expected turned out to be bad, because at this time many countries were the most stringent quarantine measures. On Thursday, Toyota introduced (.pdf) statements for the first quarter (Japanese company counts financial year from April, so this corresponds to the second quarter in a normal reference): net profit fell by 74%, to ¥158.8 billion ($1.5 billion). Toyota’s revenue dropped 40% to ¥4.6 trillion ($43.5 billion).A week ago Volkswagen reported (.pdf) for the second quarter: revenues of the German automaker fell by 37%, to €41.1 billion. VW finished the second quarter with a net loss of €2.4 billion against a profit of €5.1 billion in the second quarter of 2019. Due to the poor performance of the company had significantly reduced the dividends — €6.5 per share to €4,5. Another German automaker, BMW, reported (.pdf) the quarterly loss for the first time since 2009: the net loss amounted to €666 million against a profit of €2.2 billion a year earlier. BMW’s revenue declined by 22.3%, to €20 billion Fiat Chrysler Automobiles finished (.pdf) the second quarter with a net loss of €1.1 billion and decrease revenues by 56%, to 11.7 billion in Revenues the U.S. General Motors dropped (.pdf) by 53%, to $16.8 billion with a net loss of $758 million versus profit of $2.4 billion last year. The Renault—Nissan Alliance at the end of July presented (.pdf) first half results: net loss reached €7.4 billion, while revenue decreased by 34.3%, to €18.4 billion PSA Group was one of the few automakers reporting a profit: a profit in the first half amounted to €595 million, which is three times less than in 2019, while revenues decreased by 34.5% to €25,1 billion. recently there have been signs of recovery — so, the British car sales in July rose for the first time since the beginning of the year, showing an increase of 11.3%, car sales in China last month were also up 15%. Other predictions are about on the same level: rating Agency S&P Global Ratings expects car sales in the world this year will be 15-20% lower than in the past, that is to be sold 70-75 million vehicles. According to analysts S&P, next year car sales will grow by 10%, but will still be at a lower level than in recent years — so sales in Europe and North America will be approximately at the level of 2012-2013.Yana Christmas
The virus crippled the world auto industry The largest companies reported a loss
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