Everyone is familiar with how the Obama Administration helped resurrect the US Auto Industry from the dead.
For the 12 Big Auto and Auto Part Corps which generated Pretax Income (PTI) of at least $100 mil each in the most recent quarter, here are their earnings results for annual 2010, and as compared with 2009.
............................................Year........Year..............
............................................2010......2009................
.............................................Core.......Core........Increase..
...........................................PTI(L)......PTI(L)......Amount....%
............................................(in millions of dollars).........
Ford Motor...................MI..8,002.....(2,115)......10,117....478%
General Motors.............MI..5,737...(25,659)......31,396....122%
Oshkosh........................WI..1,212............12.........1,200.....NM
TRW Automotive..........MI..1,041..........140............901....644%
Paccar...........................WA...660.........109.............551....506%
Borg Warner..................MI....479...........18.............461...2561%
Lear...............................MI....449........(262)............711....271%
WABCO Holdings...........NJ....223............13.............210...1615%
Visteon..........................MI....109........(256)............365....143%
Dana Holding.................OH......35........(298)............333....112%
Goodyear Tire&Rubber.OH........8........(357)............365....102%
Chrysler........................MI...(513).....(8,325)........7,812......94%
Total all 12.........................17,442....(36,980).....54,422....147%
After this near miraculous earnings recovery in 2010, the earnings base has been massively elevated. Thus, it only makes sense that 2011 earnings growth will substantially decelerate.
Thus, when these 12 Big Auto and Auto Part Corps generated Total Pretax Earnings growth of 34% in the 1Q 2011, this was really good news.
And continuing this really good news, these 12 Big Auto and Auto Part Corps generated Total Pretax Earnings growth of 32% in the most recent 2Q 2011.
Below here are the Pretax Income (PTI) of these 12 Big Auto and Auto Parts Corps in the 2Q 2011, along with a comparison with the prior year’s 2Q of 2010:
................................................2Q.........2Q.......Increase...
..............................................2011......2010....(Decrease)...
...............................................PTI......PTI(L)...Amount....%
..............................................(in millions of dollars).........
Ford Motor....................MI..2,606.....2,847.......(241)....-8%
General Motors..............MI..2,594.....1,562......1,032.....66%
Paccar...........................WA.....353.......149.........204....137%
TRW Automotive...........MI.....338.......289...........49.....17%
Chrysler(1)....................MI.....238......(139)........377....271%
Borg Warner..................MI.....217........114.........103.....90%
Lear...............................MI.....205.......183..........22.....12%
Goodyear Tire&Rubber..OH.....120........82...........38.....46%
Oshkosh.........................WI.....105.......298........(193)...-65%
Visteon(2).....................MI.....102.......(88).........190...216%
WABCO Holdings(3)........NJ.....101........50...........51....102%
Dana Holding.................OH.....101........27...........74....274%
Total all 12..........................7,080....5,374.....1,706.....32%
(1) Chrysler 2011 PTI excludes Loss on Debt Extinguishment.
(2) Visteon 2011 PTI excludes Loss on Debt Extinguishment. Its 2010 PTL excludes Reorganizatoon expenses.
(3) WABCO Holdings 2010 PTI excludes large European Commission Fine.
