As multinational automakers continue to announce their first-half earnings reports, we can see an interesting phenomenon: those that have not performed well in the Chinese market have shown a significant growth momentum in global performance. For example,stellantiswithRenaultIn the Chinese market have suffered failures, but in the first half of the revenue andProfithave achieved substantial growth. Also, thoughModernThe Group's performance in China was relatively weak, but its global performance was strong in the second quarter. The same situation arisesToyotawithNissanAlthough Japanese car companies have encountered difficulties in the Chinese market this year, it has not affected their record in the second quarterProfitHigh. This illustrates with ChinaCarsCompanies are emerging in the local market, and the strategies of multinational automakers towards the Chinese market are changing, and the trend of market differentiation is intensifying.
stellantisSuffered setbacks in the Chinese market, but achieved great success in other markets around the world, with record results in the first half of the year. Its revenues reached 98.4 billion euros, netProfitAdjusted operations amounted to EUR 10.9 billionProfitIt reached 14.1 billion euros, adjusted operationsProfitThe rate reached 144%。This performance exceededTeslaGeneral MotorsEven luxury brandsMercedes BenzofProfitRates (respectively. 3% and 135%）。In addition,stellantisIt also has a good performance in the field of pure electric vehicles, through Fiat's small electricityEMU, achieved 16Sales of 90,000 units increased by 24% year-on-year, ranking third among the 30 European countries.
RenaultAlthough the Group did not perform well in the Chinese market, it achieved excellent performance in the European market. In the first half of the year,Renaultrevenue surged 27% to 26.8 billion euros, achieving a net of 2.1 billion eurosProfitOperating profitThe rate reached 76%, which is the highest level in the company's history. This is mainly due to:RenaultIn the first half of the year, sales in Europe increased by 24 percent. ModernCarsDespite the difficulties in the Chinese market, it has achieved remarkable results on a global scale. Revenue increased by 174% to 4225 trillion won,Operating profitYear-on-year **422% to 424 trillion won, the highest level since the second quarter of 2013. The failure of these multinational automakers in the Chinese market has not affected their strong performance in other markets.
In the first half of the year, the worldCarsThe industry is inEconomyDownlink andChainUnder the double blow of the problem, it still shows an overall positive trend. DetroitAmong the Big Three,General MotorsSecond-quarter revenue reached $44.7 billion, up 18% year-over-yearOperating profitfor 49600 million US dollars, a year-on-year increase of 71%。For the performance of the whole year,General MotorsVery optimistic and expected to be adjusted in 2023EBITwill be between $12 billion and $14 billion, netProfitIt will be between $9.3 billion and $10.7 billion.
Ford MotorIn the first half of the year achieved significantProfitGrowth, netProfitThis increased to $1.9 billion, almost three times that of the same period last year. Total revenue increased 12% to $45 billion. Ford MotorIn the first half of this year, revenue increased by 16% year-on-year, netProfitof $3.7 billion, successfully achieved the transformation from loss to profit.
VolkswagenCarsGroup revenue grew 15% to 8005.9 billion euros, but adjustedOperating profitIt was below analysts' expectations of 5.6 billion euros. Total revenue for the first half of the year increased by 18% year-on-year to 156.3 billion euros, but netProfit14% to €11.3 billion. Influenced by the globeEconomyThe impact of uncertainty and increased competition in the Chinese marketVolkswagenCarsThe Group lowered its full-year sales target from 9.5 million units to 9.0 million to 9.5 million units. However, by continuously reducing costs,VolkswagenCarsThe Group achieved 75% to 85%.Operating profitRate is still confident.
MercedesDes-MercedesGroup andBMWThe Group has raised its full-year earnings forecast. MercedesQ2EBITYear-on-year growth of **8%, revenue increased by 5% year-on-year. In the first half of the year,EBITYear-on-year growth of **7%, revenue increased by 6% year-on-year. MercedesFull-year passenger car sales and revenue are expected to be the same as last yearProfitThe rate is between 12% and 14%. BMWThe group's revenue increased by 70% to 28.5 billion euros. Total revenue in the first half of the year increased by 14 percent year-on-year1% to 57.8 billion euros, achieving a net of 3.9 billion eurosProfitBMWThe Group expects the full yearCarsSales will exceed 2.5 million unitsOperating profitThe rate is 6% to 8%.
Overall, globalCarsThe industry showed signs of recovery in the first half of the year, with a number of car companies achieving revenue andProfitgrowth. While competition in the Chinese market is fierce, multinationals have achieved overall growth through their presence in other markets. With the globeEconomyThe stabilization and recovery of the domestic market is expected in the second half of the yearCarsThe industry will continue to improve.