In exchange for passage he showed me the ropes, and how to get started in this crazy universe of ours. "When I first made landfall, I remember runnning into a guy by the name of Gary, and he was just looking to settle down after plying the spaceways for a few decades. "Congratulations, son" he says, shaking your hand with genuine regard before stepping back and looking at you with an almost calculating look on his face. You smile and admit that you have indeed just made your maiden voyage, and he slaps you on the shoulder with a wide grin. 'Tis a grand feeling being a captain of a starship, and that first landfall is something you'll never forget." Mind you, that was nearly thirty years ago, but I never forgot that day. "You look a little lost, m'boy" he drawls in a gravelly voice, "you look like I did when I had just taken my first flight as a ship captain. Yet.As you wander around a spaceport for the first time as a fully fledged ship's captain, a weather-beaten man, in his early fifties by the look of him, comes over. However, when your quarterly net income for the entire business is $1.8 billion, taking on losses of this size isn’t a problem. The unit lost $722 million, and management expects it will lose $3 billion for the entire year. For the first time in its history, it broke out its EV business from the rest of the company. The electric F-150 (Lightning) has high demand,” Musk recently tweeted.įord released its first-quarter results on May 2. I think Ford’s overall strategy with EVs is smart. “Always tough with margins for new vehicle lines, especially when there are major technology shifts. Even Tesla CEO Elon Musk likes what it’s done. Between the Ford Mustang Mach-E and F-150 Lightning, the automaker has come out of the gate with two very popular EVs. I ultimately chose Ford because its EV program is more focused than GM’s. In 2022, it made $14.5 billion in pre-tax profits. GM CEO Mary Barra has done an excellent job guiding the company through some challenging times. And while not everyone thinks she’s all that and a bag of chips, you can’t deny how profitable GMs become. pick, the choice between Ford (NYSE: F) and General Motors (NYSE: GM) was a tough one. It will act as a catalyst for future automotive investment in Canada. Plus, the unorthodox choice shows it’s not afraid to think outside the box.įor my U.S. That figure is up 170 basis points from Q1 2022.Īs a Canadian and former Ontarian, I was happy to see Volkswagen choose the province for its first electric battery plant in North America. EVs represented approximately 6.9% of Q1 volume. The company sold 141,000 EVs in the first quarter, 42% higher than a year ago. While its operating profit fell 29% from a year ago, it came in above expectations. “This is specifically true for EVs… we don’t want to lose our margin parity target out of sight.”įor the first quarter, Volkswagen generated $84.2 billion in revenue. “Our focus is on quality of the business, rather than on volume,” said Chief Financial Officer (CFO) Arno Antlit. The company’s goal is to generate the same margin from each car, whether an EV or an internal combustion-powered vehicle. German automaker Volkswagen (OTCMKTS: VWAGY) is focused on finding a balance between producing lots of EVs and producing lots of EVs profitably. Of all the Chinese EV makers, this is one of the best EV stocks for your portfolio. Last month, BYD unveiled two new EVs at the Shanghai auto show - a value-priced hatchback EV and a more expensive electric SUV. While its operating margin in the first quarter was less than half of Tesla’s - 4% versus 11% - it remains in growth mode. Q1 profit of $597 million was up 400% on a year-over-year basis, but it was 43% lower than the fourth quarter of 2022. Moreover, the number of vehicles the company sold outside of China rose 11.4% from March to 14,827.īYD is working hard to grab market share by lowering prices, which has affected profits. Production also rose sharply from a year ago, with BEV production up 87.3% and plug-in hybrid EV production up 106%. In the first quarter, sales of EVs and plug-in hybrids in China were up 22%, according to the China Passenger Car Association.īYD delivered 104,364 battery electric vehicles (BEVs) in April, up nearly 84% year over year and 1.6% from the previous month. BYD’s first advantage is that it operates in the world’s largest auto market, which accounted for nearly 60% of EV sales in 2022.
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