Focusing on the new trends of traditional car companies, Toyota’s operating profit soared 77% in the first quarter.
In the first quarter just past, Toyota’s operating profit soared 77% to 1.
11 trillion yen ($7.
34 billion), with an operating profit margin of 10%, up from 6.
5% in the same period last year.
Net profit almost doubled to 997.
6 billion yen ($6.
59 billion) from 552.
2 billion yen ($3.
65 billion) a year earlier.
Global revenue rose 14 per cent year-on-year to Y11.
07 trillion ($73.
17 billion).
Toyota expects operating profit to fall 20 per cent this fiscal year, and Toyota expects operating profit to fall 20 per cent to 4.
3 trillion yen in the current fiscal year (to March 2025) due to major investments, including support for labour costs for suppliers and dealers, and to support its multi-technology path strategy.
BMW Group’s revenue and profit fell in the first quarter, although car sales rose slightly by 1.
1% in the first quarter from a year earlier, BMW Group’s revenue fell slightly by 0.
6% year-on-year to 36.
614 billion euros, and pre-tax profit fell 18.
9% to 4.
1 billion euros.
Of this total, the pre-tax profit margin of the automotive division fell to 8.
8% from 12.
1% in the same period last year, and the group’s net profit also fell 19.
4% to 2.
95 billion euros.
BMW expects pre-tax profits to fall slightly in 2024, and BMW expects pre-tax profits to fall slightly this year due to rising research and development, manufacturing and labor costs, as well as lower prices for used cars.
BMW CEO: European tariffs on Chinese electric vehicles could be counterproductive.
BMW CEO Oliver Zipse warned on May 8 that EU tariffs on Chinese electric vehicles could be counterproductive, hampering the EU’s Green Agreement Industry Program (The Green Deal Industrial Plan) and hurting German automakers that import Chinese-made cars.
Mercedes-Benz CEO opposes restrictions on trade with China, while Mercedes-Benz CEO Ola Kaellenius said on May 8 that he opposes trade restrictions on China, stressing that China remains the group’s most important market.
At present, Mercedes-Benz is closely watching potential trade policy measures against China and their impact on the supply chain and sales market.
Hyundai plans to increase hybrid production at its US plants, Hyundai plans to use its investment in electric vehicle and battery production facilities in Georgia while producing hybrid vehicles, Hyundai Motor Global Chief operating Officer Jose Munoz said at a business conference on May 8.
Russia will produce Aurus luxury cars at Toyota’s former factory, and Russia’s acting Deputy Prime Minister Denis Manturov was quoted by the Russian news agency TASS as saying that Russia will start producing Aurus luxury cars at a former Toyota factory in St.
Petersburg this year, the official car of the Russian president.
Focusing on electrification, electric car sales in Europe fell 10 per cent in March from a year earlier, with Tesla as the main reason.
Tesla Model Y’s European sales plunged 42 per cent in March, according to market research firm Dataforce, which is the main reason for the 10 per cent decline in European electric vehicle sales that month.
Focusing on intelligence, Honda will promote self-driving taxis in a division of labor mode, and Honda will work with Japanese taxi companies to promote self-driving taxis.
Honda will provide systems such as vehicle and car-hailing APP, as well as operational support, and plans to start operating driverless taxis on Tokyo’s roads in 2026.
Tesla must provide Autopilot recall data by July, or face a $135 million fine, and the National Highway Traffic Safety Administration is pressuring Tesla to respond to changes to its autopilot assistance system, Autopilot, after the recall.
It is reported that Tesla must provide information to regulators by the July 1 deadline, or face a fine of up to $135.
8 million.
Motional suspended the deployment of self-driving taxis in cooperation with Uber and Lyft.
On May 7, Motional, a self-driving technology company, said it would suspend the deployment of self-driving taxis with ride-hailing companies Uber and Lyft, and would lay off staff to focus on technology development as part of the restructuring process.
Focusing on the supply chain, Continental posted a net loss in the first quarter.
Affected by the postponement of new projects after the shutdown of old projects, a decline in car production in Europe and wage and wage inflation, Continental’s first-quarter sales fell 5 per cent to 9.
8 billion euros.
Adjusted profit before interest and tax was 196 million euros, down 66 per cent from a year earlier.
The net loss was 53 million euros, compared with a net profit of 382 million euros in the same period last year.
In the first quarter of this year, Weili’s consolidated net profit turned into a profit.
In the first quarter of this year, its sales reached 1.
99 billion euros, down 13.
9% from the same period last year.
Adjusted profit before interest and tax was 33 million euros, up from 30.
8 million euros in the same period last year.
The consolidated net profit turned into a profit of 22.
7 million euros.
It is worth mentioning that the new orders of Weili Technology reached 708 million euros in the first quarter, of which 282 million euros were for electrification-related products.
South Korea will provide $7 billion in aid to the electric vehicle battery supply chain, and the South Korean Ministry of Industry, Trade and Resources said on May 8 that it would provide 9.
7 trillion won ($7.
1 billion) in financial aid to local electric vehicle battery manufacturers.
to establish a new supply chain that complies with US tax breaks to ensure the supply of critical battery materials.
McKinsey: Europe and the United States must narrow the gap in the supply chain of electric vehicle batteries in order to compete with China.
North America and Europe will have a huge gap with China in the development of cost-effective and localized production and processing of battery components by 2030, according to a McKinsey report.
North America and Europe together account for only 5 to 10 per cent of global battery module capacity by 2030, forcing them to import core battery materials to meet demand.
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