European results for six OEMs in 2010: sales up 12.2%, total 18.869 million units

VW Group ends in black with record sales volume, revenue and profit; Renault's sales volume and BMW'

2011/04/20

Thanks to a dramatic improvement in business, six European OEMs have positive net earnings in 2010; VW and Renault post record sales

 Six key European OEMs of PSA, Renault, Fiat, VW, BMW and Daimler sold 18.869 million vehicles in 2010, up by 12.2% over the previous year. Regardless of the pessimistic outlook in the beginning of 2010, they won demand in emerging countries such as China and Brazil, and thereby, their sales drastically outstripped the respective pre-financial crisis levels (17.926 million units in 2007). In particular, VW and Renault posted record sales, respectively. Only Fiat had a decrease in sales volume, while its revenue was up.

 Four of six European OEMs had ended with negative profit in 2009. All of them turned to the black in 2010. VW and BMW had record-setting net earnings, respectively.

 In 2011, these companies predict a market growth, especially in emerging countries and North America, and thus, they expect their business to continue to grow. Renault and Daimler predict about 6% growth in global markets, while PSA and Renault expect European markets to stay flat or dwindle by about 2%.

Six European OEMs' 2011 plans

PSA Predicting European markets to stay stable, PSA expects that Chinese, South American and Russian markets will expand. It aims for an automobile division positive recurring operating profit.
Renault Renault predicts a 6% growth in global markets, while expecting the European market to stay flat or dwindling by 2%. Renault aims to refresh the 2010 (record-setting) level of sales volume, and produce a free cash flow of more than 500 million Euros.
Fiat FGA's sales target is set at 2.2 million to 2.3 million units. Fiat Group's targets are set at revenue of 59 billion Euros, a trading profit of 2.1 billion to 2.6 billion Euros, and a net profit of around 900 million Euros.
VW VW expects global passenger car markets to grow beyond the 2010 level, especially in emerging countries and North America. VW aims to outstrip the 2010 record levels of sales volume, revenue and trading profit.
BMW BMW plans sales of 1.5 million units in 2011, aiming for record sales of three brands of BMW, Mini and Rolls-Royce. It also aims to refresh the 2010 earnings level (the highest mark ever).
Daimler Daimler predicts a 5 to 7% growth in global markets led by China, India and US markets. Mercedes-Benz is expected to increase sales volume, and Daimler aims to drastically pass the Group's 2010 EBIT (7.27 billion Euros) level in 2011.

 

Outline of six European OEMs' business results
(Euros in millions and global sales units in thousands)
  2007 2008 2009 2010
PSA Global sales volume 3,428 3,260 3,188 3,602
Sales 58,676 54,356 48,417 56,061
Operating profit 1,752 550 (689) 1,796
Net earnings 885 (363) (1,161) 1,134
Renault Global sales volume 2,485 2,382 2,309 2,626
Sales 40,682 37,791 33,712 38,971
Operating profit 1,354 326 (396) 1,099
Net earnings 2,734 599 (3,068) 3,490
Fiat Global sales volume 2,234 2,153 2,152 2,082
Sales 58,529 59,564 50,102 56,258
Operating profit 3,233 3,362 1,058 2,204
Net earnings 2,054 1,721 (848) 600
VW Global sales volume 6,190 6,257 6,336 7,203
Sales 108,897 113,808 105,187 126,875
Operating profit 6,151 6,333 1,855 7,141
Net earnings 4,122 4,688 911 7,226
BMW Global sales volume 1,501 1,436 1,286 1,461
Sales 56,018 53,197 50,681 60,477
Operating profit 3,873 351 413 4,836
Net earnings 3,134 330 210 3,224
Daimler Global sales volume 2,089 2,073 1,551 1,895
Sales 99,399 98,469 78,924 97,761
Operating profit 8,710 2,730 (1,513) 7,274
Net earnings 3,985 1,414 (2,644) 4,674
Total Global sales volume 17,926 17,561 16,822 18,869
Sales 422,201 417,185 367,023 436,403
Operating profit 25,073 13,652 728 24,350
Net earnings 16,914 8,389 (6,600) 20,348
(NOTES) Global sales volume of Fiat represents those of Fiat Group Automobiles, which do not include medium and heavy-duty commercial vehicles sold by Iveco. Sales and operating profit are those of Fiat Group including Fiat Industrial.

 

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