Saturday, July 11, 2020

Michigan Motor Vehicle, Parts & Accessories Companies Pretax Earnings Were Completely Down the Tubes in 2018, in 2019 and in the 1Q of 2020. During Obama-Biden's Second Four-Year Term, These Pretax Earnings Increased By an Average of 75% Per Year.

From a review of Company SEC filings, I found 20 Motor Vehicle, Parts & Accessories Companies operationally headquartered in Michigan with a stock market cap of at least $1 mil and which filed their 1Q 2020 and annual 2019 financial statements with the SEC.

The table below shows the US GAAP Pretax Income (Loss) From Continuing Operations for the first quarter of both 2020 and 2019 and for annual years 2019, 2018 and 2017 for each of these 20 Michigan Companies.
Most Audited Audited Audited
Recent Pretax Pretax Pretax Pretax Pretax
Annual Income Income Income Income Income
Audited (Loss) (Loss) (Loss) (Loss) (Loss)
Michigan Companies Fincl First First FYE FYE FYE
Motor Vehicles, Parts & Accessories City State Sts Quarter Quarter Annual Annual Annual
Stock Market Caps Above $1 Mil HQs HQs FYE 2020 2019 2019 2018 2017
 $ mils  $ mils  $ mils  $ mils  $ mils
General Motors Detroit MI Dec 19            643         2,282         7,436         8,549       11,863
BorgWarner Auburn Hills MI Dec 19            186            262         1,265         1,196         1,063
Aptiv plc Troy MI Dec 19         1,575            275         1,126         1,334         1,255
Lear Corp Southfield MI Dec 19            109            287            954         1,538         1,527
Gentex Zeeland MI Dec 19            107            125            500            522            532
Meritor Troy MI Sept 19            314            102            377            278            381
WABCO Holdings Auburn Hills MI Dec 19              35            100            313            464            653
Visteon Van Buren Township MI Dec 19             (31)              11            106            216            223
Cooper-Standard Holdings Northville MI Dec 19           (127)               (3)              98              70            213
Delphi Technologies plc Troy MI Dec 19             (34)              25              86            364            420
Stoneridge Novi MI Dec 19                5              11              68              65              53
Gentherm Northville MI Dec 19              17              15              59              58              69
Shyft Group Novi MI Dec 19              12                6              47              21              20
Adient plc Plymouth MI Sept 19              18             (62)                2        (1,121)         1,061
Unique Fabricating Auburn Hills MI Dec 19               (1)               (0)               (9)                5                8
Superior Industries Southfield MI Dec 19           (194)                7             (93)              32                1
Horizon Global Plymouth MI Dec 19             (17)             (30)           (121)           (231)                5
Veoneer  Southfield MI Dec 19           (208)           (142)           (521)           (253)           (314)
American Axle & Manufacturing Detroit MI Dec 19           (498)              39           (533)           (114)            340
Ford Motor Dearborn MI Dec 19        (1,146)         1,610           (640)         4,345         8,159
Total all 20 Motor Vehicle-Related Cos            765         4,920           10,520       17,338       27,532
….. % Change From Prior Year Period -84% -39% -37%


And also from a review of Company SEC filings, I found 16 Motor Vehicle, Parts & Accessories Companies operationally headquartered in Michigan with a stock market cap of at least $1 mil and which filed their annual financial statements with the SEC which disclosed Pretax Earnings for all years from 2012 to 2016.

The table below shows the US GAAP Pretax Income (Loss) From Continuing Operations for annual years 2012 through 2016 for each of these 16 Michigan Companies.
Obama-
Biden        
Last        
Obama- Year Year Year Year Year
Biden's 2016 2015 2014 2013 2012
Last Audited Audited Audited Audited Audited
Michigan Companies Year Pretax Pretax Pretax Pretax Pretax
Motor Vehicles, Parts & Accessories City State 2016 Income Income Income Income Income
Stock Market Caps Above $1 Mil HQs HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss)
   $ mils  $ mils  $ mils  $ mils  $ mils
General Motors Detroit MI Dec 16       11,684         7,718         4,246         7,458      (28,695)
Ford Motor Dearborn MI Dec 16         6,796       10,252         1,234       14,371         2,005
Lear Corp Southfield MI Dec 16         1,338         1,032            787            610            649
Aptiv plc Detroit MI Dec 16         1,425         1,508         1,615         1,523         1,345
BorgWarner Auburn Hills MI Dec 16            191            927            980            869            761
WABCO Holdings Rochester Hills MI Dec 16            369            298            357            641            336
Gentex Zeeland MI Dec 16            511            464            415            328            250
American Axle Detroit MI Dec 16            299            273            177              86              32
Visteon Van Buren Township MI Dec 16            161              69             (43)            611            336
Cooper-Standard Holdings Novi MI Dec 16            195            153              88              91              67
Tower Intl Livonia MI Dec 16              74              62              49             (31)             (14)
Gentherm Northville MI Dec 16            111            129              94              46              33
Stoneridge Novi MI Dec 16              39              20             (53)              23               (4)
Spartan Motors (now Shyft Group) Charlotte MI Dec 16                9             (13)               (1)               (8)               (2)
Meritor Inc Troy MI Sept 16            155              67            315              51            137
Superior Industries Intl Southfield MI Dec 16              55              35              16              37              34
Total 16 Michigan Motor Vehicle, Parts & Accessories Cos       23,412       22,994       10,276       26,706      (22,730)
Total Pretax Income % Change vs Preceding Year 2% 124% -62% 236%
Obama/Biden's Second Four-Year Term
….. Pretax Income Avg Per Year % Increase 2 Yrs 2015 and 2016 63%
….. Pretax Income Avg Per Year % Increase 4 Yrs 2013 to 2016 75%










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