Like any other for profit businesses in the world auto companies are here to make money. With that in mind lets take a look at the automotive earnings released this past week. All of the brands releasing earnings this week showed positive profits and all but Honda had increased their profits from a year ago. Ford led all brands with a 2.55 billion first quarter profit thanks to its best first quarter since 1998. Percentage wise, Kia was at the top of the leader board as it increased its earnings by 91% while fellow South Korean Hyundai increased earnings 46.5%. Also doing well was Volkswagen which posted its best first quarter ever while Daimler AG nearly doubled its first quarter profit compared to last year. Effected by the March natural disasters at home Honda lost about half of its profit compared to last year. Click on the charts below to see the brands ranked by profits and revenues.
5/4/11 Update: More earnings have been released, BMW posted a 1.8 billion dollars profit, Chrysler posted a modest profit of 116 millions which is small compared to other automakers but is the first profit for the current Chrysler group (since 2009). General Motors is rumored to post a 1.74 billion profit when it reports tomorrow.
5/5 Update: General Motors reportd two billion dollars of adjusted earnings before taxes on 36.2 billion dollars of revenue. If you include GM's sale of its Delphi stake and a few other one time occurances its total first quarter net profit was 3.2 billion.
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