Wuerth While Wily Wakenings: Michigan Motor Vehicle, Parts and Accessories Companies Were in a Deep Earnings Economic Depression in the First Half of 2020 ..... These 20 Michigan Companies Total Pretax Earnings Declined By 84% in the First Quarter of 2020 and Declined By An Even Much Higher 138% in the Second Quarter of 2020 ..... All of These Michigan Companies Had Losses in the Second Quarter of 2020 Except For Ford, Whose Pretax Income Was Only Due To a One-Time Non-Operating Gain of $3.5 Bil ..... On An Operating Income Basis, Ford Had An Operating Loss of $2.8 Bil in the Second Quarter of 2020, More Than Double GM's Operating Loss of $1.2 Bil

Thursday, September 10, 2020

Michigan Motor Vehicle, Parts and Accessories Companies Were in a Deep Earnings Economic Depression in the First Half of 2020 ..... These 20 Michigan Companies Total Pretax Earnings Declined By 84% in the First Quarter of 2020 and Declined By An Even Much Higher 138% in the Second Quarter of 2020 ..... All of These Michigan Companies Had Losses in the Second Quarter of 2020 Except For Ford, Whose Pretax Income Was Only Due To a One-Time Non-Operating Gain of $3.5 Bil ..... On An Operating Income Basis, Ford Had An Operating Loss of $2.8 Bil in the Second Quarter of 2020, More Than Double GM's Operating Loss of $1.2 Bil

From a review of Company SEC filings and the Google Finance website, I found 20 publicly-held Michigan Motor Vehicles, Parts and Accessories Companies. All 20 Companies had June 2020 second quarter ends.

The table below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the second and first quarters of both 2020 and 2019 for each of these 20 Michigan Motor Vehicles, Parts and Accessories Companies.

		US	US	US	US
		GAAP	GAAP	GAAP	GAAP
		Pretax	Pretax	Pretax	Pretax
		Income	Income	Income	Income
		(Loss)	(Loss)	(Loss)	(Loss)
		Second	Second	First	First
Michigan Motor Vehicles, Parts and Accessories Cos		Quarter	Quarter	Quarter	Quarter
All Publicly-Held Cos	City HQs	2020	2019	2020	2019
		mils $	mils $	mils $	mils $

General Motors	Detroit	(892)	2,927	643	2,282
Aptiv plc	Troy	(361)	298	1,575	275
Adient plc	Plymouth	(326)	30	18	(62)
Lear Corp	Southfield	(318)	267	109	287
American Axle	Detroit	(257)	59	(498)	39
Cooper-Standard Holdings	Northville	(175)	189	(127)	(3)
BorgWarner	Auburn Hills	(90)	255	186	262
Veoneer	Southfield	(88)	(152)	(208)	(142)
Delphi Technologies plc	Troy	(73)	46	(34)	25
Meritor	Troy	(47)	109	314	102
Superior Industries Inc	Southfield	(47)	15	(194)	7
Visteon	Van Buren Township	(40)	16	(31)	11
Stoneridge Inc	Novi	(28)	49	5	11
Horizon Global	Plymouth	(17)	(12)	(17)	(30)
Gentherm	Northville	(10)	8	17	15
Unique Fabricating	Auburn Hills	(5)	(8)	(1)	(0)
Gentex	Zeeland	(4)	130	107	125
Shyft Group	Novi	(2)	6	12	6
Ford Motor	Dearborn	1,084	205	(1,146)	1,610
WABCO Holdings (Acquired by ZF Friedrichshafen)	Auburn Hills	NA	NA	35	100

Total all 20 Michigan Motor Vehicles, Parts and Accessories Cos		(1,696)	4,437	765	4,920
… % Change From Prior Year Quarter		-138%		-84%