Harley-Davidson is losing money more than before, Land Rover gets France seconds, Nissan’s big loss continues, and more morning shift For July 28, 2020.
1st gear: Harley reduces first quarterly loss as much as possible a decade
With its retail sales dropping 27 percent in the past year alone, Harley has begun to write about how to start losing and will soon start losing big, as we’ve been reporting for the past few years.
And then COVID-19 happened and Harley’s plans accelerated – not for recovery, but for loss. Now the new CEO has to ensure that there is hope Reuters:
The Milwaukee-based company reported a loss of 60 cents per share for the quarter through June, compared with a profit of $ 1.23 per share a year earlier. According to Refinitive’s IBES data, analysts expected the average profit to come in at 4 cents per share.
Revenue for motorcycles and related products plunged by 53% year-over-year to $ 669 million, hurt by temporary suspension of production during the quarter due to lockdowns to prevent the spread of the virus.
The company’s shares were trading 4.9% down at $ 27.85 in pre-market hours.
This is the first quarterly loss since 2009 Bloomberg Report.
CEO Jochen Zitz has a plan that includes cutting lineups, reducing production, redefining its global markets, not focusing on volume but profit, cutting up to 700 jobs and possibly saving up to $ 100 million .
Let’s hope that the country that is manufacturing the Harley can wear a mask to give motorcycles a chance.
Second gear: JLR is made a successor
Former Renault CEO Thierry Bollor was fired back in October, simply because he was ousted as the company’s CEO, the successor removed from the hands of company CEO Carlos Ghosn, and Joe Ghosn’s Japanese executives K’s escape and hiding in Lebanon did not look good.
But while Renault may be able to find a CEO without a potentially problematic connection An internationally wanted criminal businessman, Jaguar Land Rover clearly cannot.
From Auto news:
Tata Motors, the parent of Jaguar Land Rover, has named Thierry Bolor to be the next CEO of the UK luxury automaker.
The company’s stock exchange filing said that Bolor, who was removed as CEO of Renault in October, will replace Ralph Spath as the JLR boss. The 64-year-old Spieth is scheduled to retire in September and will become JLR’s non-executive vice president.
“It would be my privilege to lead this fantastic company, which is the most testing time for our generation,” said Filer.
Former Dr. of Aston. Andy Palmer is right there, folks. Don’t you want a mid-engine F-Type?
3G gear: Nissan exceeds expectations with $ 4.5 billion loss projection
Speaking of that Renault-Nissan alliance, Carlos is still embroiled in Ghosn’s affair, Nissan is doing really bad, and this is surpassing expectations, this time after a second consecutive annual loss.
From Auto news:
The automaker has estimated an operating loss of 470 billion yen ($ 4.5 billion), which would be the largest according to Nissan data going back to 1977, and a common estimate of 262.8 billion yen loss by 20 analysts. Is much larger than. Refinitiv.
The company estimated that revenue would decline by a fifth to 7.8 trillion yen ($ 74.1 billion) and a 16 percent drop in global vehicle sales.
Years of aggressive expansion, especially in emerging markets, have left Japan’s No. 2 automaker with disappointing margins, an aging portfolio and a tarnished brand.
If you are a vehicle manufacturer and you are somehow losing more money than you were back in the decade of the oil crisis, you should probably change something a little earlier.
Fourth gear: Elon Musk is a goody
Tesla CEO and eminent billionaire Elon Musk tweeted that his repeated disdain for government tax relief for US citizens facing unemployment and the unprecedented massive global virus outbreak for my lifetime Financing took place. Meanwhile, his company is taking the same tax handouts to pay its employees, despite it recently posting one of its quarterly profits and a fucking billionaire.
The electric carmaker said in a filing on Tuesday that Tesla Inc. had received payroll-related benefits from the government to reduce the impact of the coronovirus epidemic.
The company, whose chief executive Elon Musk has spoken out against further government support as Congress debated another round of stimulus, said that along with cost cuts, due to the sluggishness of factories in this year’s lockdown The profits had offset almost all the costs. .
Tesla’s only US automobile factory – in California, where most of its cars are currently produced – was closed for some six weeks in the second quarter ended in June after an initial standoff with local authorities.
The person who wants to give a free internet with NASA money (a good and good idea if it doesn’t destroy the night sky and actually works as advertised, and it’s some super clearly messy capitalist scheme No, although it almost certainly is), they don’t want to give back their money to taxpayers when they lose their jobs Because the government did not close its stores for a few months.
5th gear: UK National Grid Maps out of its projected EV demand on infrastructure
A new report from the UK’s electrical grid operator National Grid states that over the next 20 years the island nation’s roads will have 30 million new EVs, and this Think This is There is an electrical grid to handle it. From Bloomberg:
National Grid stated that emissions from the power sector will effectively emit renewable generation and carbon capture and storage technology by 2033. Burned natural gas levels will be reduced by 2038 without emission-removal technology.
The utility’s electric vehicle forecasts exceed the amount forecast by BloombergNEF, with analysts seeing 17 million EVs on the road in the UK in 2040. BNEF does not recognize the goal of phasing out internal-combustion engines until 2035.
The National Grid report said that by 2050, 80% of households with EVs will have smart cars charging their cars and electricity demand will be lower. About 45% of households will be able to provide the ability to balance the grid, generating 38 gigawatts of flexible power to help manage peaks and troughs.
Before you ever learn how to charge your electric car, your government will teach you how to charge your electric car, so that you can’t wipe out electricity for millions because you won’t ride the bus.
Reverse: Occasional as ever
Neutral: What has Renault done that JLR wants?
So you are a Jaguar Land Rover, and you do not hire the man who has remade Aston Martin for the 21st century. It is not his fault that no one wants British sports cars, yet he made some of the best.
Regardless, what do you expect Thierry Bolor to do with the key now?