Tag Archives: financial

News

Harley Reports 16 Percent Drop In Motorcycle Sales Worldwide In Q3 Of 2023

On October 26, 2023, Harley-Davidson released its financial results for the third quarter of 2023. The company reported an increase of 25 percent in CVO retail sales, which was seen as positive news. However, a closer examination of the revenue and motorcycle sales figures revealed a less optimistic outlook.

Harley-Davidson divides its reporting into three segments: Harley-Davidson Motor Company (excluding LiveWire), Harley-Davidson Financial Services, and LiveWire. This reporting structure has been in place since LiveWire became its own separate company in 2022.

Combined, these segments form Harley-Davidson Incorporated, which reports its Consolidated Financial Results. In comparison to the third quarter of 2022, the Motor Company reported a 24 percent decrease in profits. As a result, stock shares fell by 11 percent in response to this news, according to Reuters.

Turning our attention to motorcycle sales, Harley-Davidson reported a decline in retail sales across all geographic regions for the third quarter of 2023. Worldwide sales decreased by 16 percent compared to the same period last year.

Here is a breakdown of the sales by region: North America experienced a 15 percent decrease, Europe, the Middle East, and Africa saw a 13 percent decline (EMEA), Asia Pacific sales dropped by 24 percent, and Latin America experienced an 11 percent decrease in the third quarter of 2023.

It’s worth noting that LiveWire, Harley-Davidson’s electric motorcycle, is reported differently than its traditional motorcycles. LiveWire’s figures represent “Electric Motorcycle Shipments” rather than sales. In the third quarter of 2023, a total of 50 LiveWire electric motorcycles were shipped, marking a 76 percent decrease from the 206 shipments in the same period of 2022.

Considering LiveWire is still in its early stages and new technologies often face challenges, it is important to keep expectations in check. Additionally, Harley-Davidson only recently started selling its bikes in Europe, a market where electric motorbikes have gained more acceptance.

While electric motorcycles have gained popularity in Europe and Asia, the adoption rate in the US has been slower. As LiveWire establishes itself in Europe and other international markets, particularly with the S2 Del Mar model, it is hoped that it will find a more receptive audience.

VolvoCars

Invitation to Volvo Cars’ presentation of the third quarter 2023

Volvo Cars will release its financial results for the third quarter of 2023 on Thursday, October 26 at 06:00 UK time (07:00 CET).

At 08:30 UK time (09:30 CET), President and CEO Jim Rowan and CFO Johan Ekdahl will host a live stream for media, investors, and analysts. The presentations will be conducted in English and will be followed by a Q&A session.

We look forward to your participation. See below for detailed information:

08:30 UK time (09:30 CET) – Presentation for media, investors, and analysts

Link: https://live.volvocars.com

If you are tuning in from China, please use this link: https://live.volvocars.com.cn

It will be possible to ask questions during the Q&A session following the main presentation. To participate, you can either use the chat function online to type your question or call in. If you choose to call in, please register to receive the dial-in details and individual PIN.

Link to register

For further information, please contact:

Volvo Cars Media Relations

+46 31-59 65 25

media@volvocars.com

Volvo Cars Investor Relations

John Hernander

+46 31-793 94 00

investors@volvocars.com

Mazda

Mazda Financial Services Provides Assistance to Customers Impacted by Hurricane Idalia

Mazda Financial Services (MFS) has announced that it is offering payment relief options to its customers affected by Hurricane Idalia. This assistance is available to all MFS customers in the designated disaster areas.

Mazda Financial Services is deeply concerned about the well-being of its customers and is committed to assisting those who have been affected by this natural disaster. Lease and finance customers who reside in the affected regions may be eligible for various payment relief options. Some of these options include deferring payments, redirecting billing statements, and facilitating phone or online payments.

Customers who wish to explore their account options are encouraged to contact MFS directly at 866-693-2332.

MFS would like to express its sympathies to all those impacted by this devastating storm.

About Mazda Financial Services

Mazda Financial Services (MFS) offers a range of automotive finance, lease, and wholesale dealer financing products and services to Mazda dealers and customers across the United States. Additionally, MFS provides vehicle protection products through Mazda Protection Products (MPP). For more information, please visit: www.mazdafinancialservices.com

ToyotaUk

Toyota Financial Services provides payment relief to customers affected by Hawaii wildfires

About Toyota Financial Services
Toyota Financial Services (TFS) is responsible for financing and related products for Toyota in the United States. It offers retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also provides vehicle and payment protection products through Toyota Motor Insurance Services (TMIS). Additionally, the company serves Lexus dealers and customers through Lexus Financial Services.

As of March 31, 2023, TFS has approximately 3,800 team members across the nation and holds assets worth over $137 billion. It is part of Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation, which offers a comprehensive range of financial services worldwide.

We utilize our website’s investor relations section (www.toyotafinancial.com) and SEC filings to disclose significant financial information. Our channels of communication include press releases, social media, and other platforms to share updates about our company, services, and relevant matters. While not all social media posts from us contain material information, some of them may be material. Therefore, we encourage individuals interested in our company to check our Twitter messages at www.twitter.com/toyotafinancial and Facebook posts at www.facebook.com/toyotafinancial/.

Mazda

Mazda Financial Services Provides Payment Relief for Customers Affected by Hawaii Wildfires

PLANO, Texas, August 14, 2023 – Mazda Financial Services (MFS) has announced that it is offering payment relief options to its customers who have been impacted by the recent wildfires in Hawaii. This assistance is available to all MFS customers residing in the designated disaster areas.

Mazda Financial Services is deeply concerned about the well-being and safety of its customers, and it aims to support those who are suffering from this natural disaster. Lease and finance customers who live in the affected areas may be eligible for various payment relief options, such as:

  • Extensions and deferred payments for leases
  • Receiving billing statements through alternative channels
  • Arranging phone or online payments

Customers who would like to explore their account options are encouraged to contact MFS directly at 866-693-2332.

Our thoughts are with those affected by the devastating wildfires.

About Mazda Financial Services
Mazda Financial Services (MFS) provides automotive finance, lease, and wholesale dealer financing products and services to Mazda dealers and customers in the United States. Additionally, MFS offers vehicle protection products through Mazda Protection Products (MPP). For more information, please visit: www.mazdafinancialservices.com

ToyotaUk

TMC Announces April Through June 2023 Financial Results

All consolidated financial information has been prepared in accordance with International Financial Reporting Standards (IFRS)

TOYOTA CITY, Japan (August 1, 2023) — Toyota Motor Corporation (TMC) today announced its financial results for the first quarter, which ended June 30, 2023.

Consolidated vehicle sales totaled approximately 2,326,000 units, an increase of approximately 313,000 units compared to the same period last fiscal year. On a consolidated basis, net revenues for the period totaled 10.546 trillion yen ($77.0 billion), an increase of 24.2%. Operating income increased from 0.578 trillion yen ($4.5 billion) to 1.120 trillion yen ($8.2 billion), while income before income taxes 1 was 1.720 trillion yen ($12.6 billion). Net income 2 increased from 0.736 trillion yen ($5.7 billion) to 1.311 trillion yen ($9.6 billion).

Regions

North America: Vehicle sales totaled approximately 682,000 units, an increase of 47,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 35.3 billion yen ($257 million) to 123.3 billion yen ($900 million).

Japan: Vehicle sales totaled approximately 532,000 units, an increase of 129,000 units.  Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 363.1 billion yen ($2.6 billion) to 700.7 billion yen ($5.1 billion).

Europe: Vehicle sales totaled approximately 286,000 units, an increase of 38,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 58.4 billion yen ($426 million) to 82.0 billion yen ($598 million).

Asia: Vehicle sales totaled approximately 417,000 units, an increase of 56,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 5.3 billion yen ($38 million) to 186.9 billion yen ($1.4 billion).

Other regions (including Central and South America, Oceania, Africa, and the Middle East): Vehicle sales totaled approximately 408,000 units, an increase of 42,000 units. Operating income, excluding the impact of valuation gains/losses from interest rate swaps, increased by 39.3 billion yen ($286 million) to 80.5 billion yen ($587 million).

Financial Services

Financial services operating income decreased by 23.4 billion yen ($170 million) to 144.5 billion yen ($1.1 billion). Including valuation gains/losses, operating income increased by 32.7 billion yen ($238 million) to 147.2 billion yen ($1.1 billion).

(*FY24 currency translations above are approximate and based on an average 137-yen-to-dollar exchange rate; FY23 is 130-yen-to-dollar exchange rate)

Forecast

For the fiscal year ending March 31, 2024, TMC estimates consolidated vehicles sales will be 9.60 million units. Based on an exchange rate assumption of 125 yen to the U.S. dollar, TMC forecasts consolidated net revenue of 38.0 trillion yen ($304.0 billion), operating income of 3.0 trillion yen ($24.0 billion), income before income taxes of 3.69 trillion yen ($29.5 billion), and net income of 2.58 trillion yen ($20.6 billion).

(*all currency translations above are approximate and based on an average 125 -yen-to-dollar exchange rate.)

1 Income before income taxes and equity in earnings of affiliated companies

2 Net income attributable to Toyota Motor Corporation

For more information, click here.

News

Harley-Davidson Bike Sales increased by 3% worldwide in Q2 2023

Harley-Davidson announced its financial results for Q2 2023 on July 27. The company reported the number of motorcycles shipped and the revenue generated globally. Since LiveWire became its own business entity in 2022, its results are reported separately from Harley-branded motorcycles.

In Q2 2023, revenue across all sectors decreased by 2% compared to the same period in 2022. However, let’s focus on motorcycle shipments and sales.

Harley records motorcycle shipments separately from motorcycle sales, especially for Harley-branded bikes. However, this distinction does not apply to LiveWire. In Q2 2023, the company reported worldwide motorcycle shipments of 42,900 bikes, a 10% decrease from the 47,900 shipped in the same period in 2022. This decrease is attributed to a production stoppage in May 2023.

Looking at motorcycle sales in Q2 2022, there is some optimism. Sales increased in North America, Asia Pacific, and Latin America. However, sales in Europe, the Middle East, and Africa (EMEA) dropped by 6%.

Asia Pacific stands out with a 24% increase in sales year-on-year. In Q2 2023, 7,500 bikes were sold compared to 6,000 in Q2 2022. Overall, global motorcycle sales (excluding LiveWire) increased by 3% in Q2 2023.

As for LiveWire, they only report motorcycle shipments, not sales. In Q2 2023, LiveWire reported shipments of 33 bikes, an 85% decrease from the 225 units shipped in Q2 2022. It’s worth mentioning that all 33 LiveWires that were shipped in Q2 2022 were LiveWire Ones, not Harley-Davidson LiveWires or S2 Del Mars.

Given the results so far, LiveWire has revised its sales guidance for the entirety of the 2023 fiscal year. They are now aiming for motorcycle unit sales of 600 to 1,000. Only time will tell if they can meet or exceed these goals as the company expands in Europe and rolls out the more affordable S2 Del Mars to customers.

VolvoCars

Invitation to Volvo Cars’ presentation of the second quarter 2023

Volvo Cars will release its financial results for the second quarter of 2023 on Thursday, 20th July at 06:00 UK time (07:00 CET).

At 08:30 UK time (09:30 CET), President and CEO Jim Rowan and CFO Johan Ekdahl will host a live stream for media, investors, and analysts. The presentations will be conducted in English and will be followed by a Q&A session.

We are looking forward to your participation. Please find below detailed information:

08:30 UK time (09:30 CET)         Presentation for media, investors, and analysts

Link: https://live.volvocars.com

If you are tuning in from China, please use this link: https://live.volvocars.com.cn

During the Q&A session following the main presentation, participants will have the opportunity to ask questions. You can either use the online chat function to type your question or call in. To call in, participants need to register and will receive the dial-in details and individual PIN.

Link to register

For further information, please contact:

Volvo Cars Media Relations

+46 31-59 65 25

media@volvocars.com

Volvo Cars Investor Relations

John Hernander

+46 31-793 94 00

investors@volvocars.com

Motorsport

Lamborghini’s Financial Success Allows Development of Huracan Successor Without Audi R8 Twin

In order to mitigate financial risks associated with investing in a niche product, Lamborghini previously collaborated with Audi to share costs. The Gallardo and Huracan were developed alongside the first- and second-generation R8 models. However, Audi has confirmed that there will not be a third collaboration. Despite this, Lamborghini, based in Sant’Agata Bolognese, has announced that a new Lamborghini model will be introduced in 2024. A top executive, Francesco Scardaoni, who serves as the director for the Asia-Pacific region, explains how this is made possible.

Scardaoni reveals that the upcoming Huracan replacement will be developed solely by Lamborghini, thanks to the company’s years of profitability. A major contributing factor to Lamborghini’s success is the immense popularity of its Urus SUV, which some enthusiasts may view as a necessary compromise. In 2022, Lamborghini achieved its best year ever with a turnover of €2.38 billion and an operating margin of 25.9 percent. It recorded an operating income of €614 million and recorded a record-breaking 9,233 unit deliveries, with 5,367 units being the Urus.