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Volkswagen:Quarterly Results/2023 Q1: Difference between revisions
Volkswagen:Quarterly Results/2023 Q1 (view source)
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* Reduced gross margin for Tesla cars will hurt demand for Volkwagen's EVs. | * Reduced gross margin for Tesla cars will hurt demand for Volkwagen's EVs. | ||
* Volkswagen is likely still facing high raw materials, commodity, logistics and warranty costs. | * Volkswagen is likely still facing high raw materials, commodity, logistics and warranty costs. | ||
=== General Motors === | |||
General Motors reported revenue and earnings that beat analysts estimates. Revenue during the quarter was up 11.1% to $39.99 billion, above analyst estimate of $38.96 billion. On the other hand, earnings per share was $2.21 versus $1.73 expected by analysts.The great results were due to cost cutting measures such as employee buyout program as well as continued demand for its high-end vehicles. However, China income performed dismally as it declined by 64.5% to $83 million. | |||
Regarding the price wars initiated by Tesla, the company said that it will not take part on it. GM CEO Mary Barra said officials “feel good about where we’re priced right now.”<ref>https://www.cnbc.com/2023/04/25/general-motors-gm-earnings-q1-2023.html</ref> | |||
==== Summary of results ==== | |||
{| class="wikitable" | |||
!Key Items | |||
!Q1 2023 | |||
!Analysts expectations | |||
!Y/Y Growth | |||
|- | |||
|Revenue | |||
|$39.99 billion | |||
|$38.96 billion | |||
| 11.1% | |||
|- | |||
|EPS | |||
|$2.21 | |||
|$1.73 | |||
| | |||
|- | |||
|China equity income | |||
|$83 million | |||
| | |||
| -64.5% | |||
|} | |||
== References == | == References == | ||