7 May 2025 06:00
Migrating north - 6 May 2025
Stellantis has decided not to publish their profit forecast, stating that the tariffs cause far too much uncertainty for the financial year ahead. Their financial results for the first quarter of 2025 continued to disappoint, with a 14% drop in revenue and a 9% drop in vehicle shipments. If you wish to learn more, click this Autocar article link here.
40% DROP IN PROFITS FOR VWVolkswagen’s financial results for the first quarter of 2025 are in and are not great. They did make a profit but it is down 40% on last year, being £1.9 billion with a 1.4% rise in sales. They stated that the increased number of EVs being bought had impacted them due to the much reduced profit margin in electric vehicles. Click this Autocar article to learn more.
IMPROVED ASTON MARTIN PERFORMANCE DESPITE LOSSAston Martin announced a pre tax loss of £76.9 million, for the first quarter of 2025, which is significantly down from last year’s £138.8 million. Revenue was also down, 13%, to £233.9 million, showing how the cost cutting efforts were working for the company. You can learn more, by clicking this Autocar link here.
DROP IN REVENUE FOR VOLVOVolvo too were announcing their financial results for the first quarter of 2025 and they were down. Deliveries, earnings and revue are all down. Interim CEO Håkan Samuelsson announced cost cutting measures across their global network. To read more, click this Autocar article link here.
PORSCHE IN-HOUSE BATTERY PRODUCTION PLANS CHANGEPorsche are not going to expand their in-house battery production, as was originally planned. Instead that money will go to software and other products, as they claim the slow uptake in EVs is to blame. This all comes as they announce a further dramatic drop in China sales, down 42% for the first quarter, and an expected drop in revenue and profits for the company overall. You can learn more, by clicking this Autocar article link here.
MCLAREN GETS A NEW BOSSFollowing the merger of McLaren and Forseven, Michael Leiters has stepped down with immediate affect. Forseven’s boss Nick Collins, who coincidentally was named CEO of McLaren Group Holdings - the new overarching company that encompass McLaren and Forseven. Click this Autocar article link to read more.
SKODA OPENS ONLINE SHOWROOM WITH AMAZONYou will soon be able to research and peruse your next Skoda via Amazon, in the UK. On top of which you can book your test drive before visiting a Skoda showroom and buying, if you so wish, from the car company directly. If you want to learn more, click this Top Gear article link for more.
