The Big 3 Motor Vehicle Corps.....Ford, GM and Chrysler.....generated Total Adjusted Earnings in the 2Q 2013 which were up a robust 20% over the 2Q 2012, led by Ford's 52% earnings growth.
GM's 2Q 2013 Adjusted Earnings declined by $85 mil. However, this was only because GM reported $500 mil of higher income tax expense in the 2Q 2013. Absent this $500 mil of increased income tax expense, the Big 3 Total Earnings grew by an even more robust 36%.
The Remaining 9 Motor Vehicle and Parts Corps also had their Total After-tax Adjusted Earnings grow by a robust 20% in the 2Q 2013.
I think the US economy, US real GDP growth, good-paying US job creation, business profits, and the US Debt level would all be substantially better off if the Obama Administration were to replicate some of its successful strategies used to rescue the Auto Industry to all of US manufacturing and all of US technology. I'm just saying.
Below here are the earnings of these 12 US Big Motor Vehicle and Parts Corps for the 2Q 2013 and for the comparable 2Q 2012:
|2Q 2013||2Q 2012|
|US Big Motor Vehicle and Parts Corps|
|Total Big 3||3,774||3,135||639||20%|
|The Remaining 9|
|Goodyear Tire & Rubber||181||85||96||113%|
|Total Remaining 9||1,960||1,639||321||20%|
|Grand Total all 12||5,734||4,774||960||20%|