I was thinking of sending out a company-wide email at the heavy truck OEM I work for informing everyone some guy on a car forum read something on the internet and has figured out our devious scheme to rake in excessive profits!
I’ve got to the point I believe only people with actual real life experience in an area have a right to an opinion on that area. I read and see news stories constantly and in areas I have direct experience in, I see how incorrect or slanted what they are reporting really is. It’s not a right or left thing, all news outlets regardless of their political leanings seem pretty incompetent at their jobs these days.
Be skeptical of anything you see or hear on the news.
Stellantis presented a robust earnings picture Thursday for the first half of 2022.
The automaker said it made $8 billion (8 billion euros) in net profit, up 34%, with an adjusted operating income margin of 14%, up from 11%, from the same period a year ago. The automaker said it had double-digit margins in all five of its global regions.
The results appeared positive nearly across its metrics, with the automaker touting its progress on vehicle electrification, saying its global battery electric vehicle sales were up 50% to 136,000 units.
CEO Carlos Tavares, in a roundtable meeting with reporters Thursday morning, said the results are amazing.
"We could take a hit of a net revenue drop by 60%, and we would still be in the black, which is a fantastic achievement from the company. It demonstrates that the company is very resilient and an all-weather company," he said.
All while being "short" on material. Anybody that thinks companies are eager to return to the previous days of being able to overproduce product and then have to sell that product at a reduced rate to move the product is nuts. Yes, there are some shortages. I just retired from a business that served aerospace industy and we also had some issues with getting material....but, keep an eye on this. There is no valid reason for any of these companies to be in a big hurry to increase any production. Auto dealers are making record profits (I know some who have indicated they have never made this much money), they can skip all of the costs associated with financing inventories and can reduce their staffing levels as they only need people to take orders on vehicles that are selling with zero incentives and often well above manufacturers MSRP. I'm not saying its all self imposed, but worth thinking about. The days of manufacturer incentives are done.
