The data show that the sales revenue of Volkswagen Group in the first half of the year was 96.1 billion euros, down 23.2% year on year, and the profit loss before interest and tax was 1.4 billion euros. Revenue of Renault group fell 34.3% in the first half of the year, with a loss of nearly 7.4 billion euros. Peugeot Citroen Group (hereinafter referred to as PSA group) achieved revenue of 25.12 billion euros in the first half of the year, down 34.5% year on year. It is worth mentioning that with the effective control of domestic epidemic situation in China, the market is gradually warming, and the trust of multinational car enterprises on the Chinese market will continue to increase. “The recovery of China’s auto market will bring good profits and guarantee of production and sales scale for multinational car companies,” said cuidongshu, Secretary General of the national passenger vehicle market information Federation

on July 30, local time in Germany, Volkswagen Group issued its first half of 2020 financial report. The data show that from January to June, the sales revenue of Volkswagen Group was 96 billion euros, down 23% year-on-year, the EBIT loss was 1.4 billion euros, and the adjusted operating loss was 800million euros, compared with the same period last year, the figure was a profit of 9.6 billion euros.

Volkswagen Group believes that it is due to the decline in demand for cars. The data show that in the first half of this year, the total sales volume of Volkswagen in the world was 3893100, down 27.4% year on year. In six years, Volkswagen’s first half sales were overtaken by Toyota, which sold 4.16 million vehicles in the first half of the year.

in addition, the “emission door” event that has attracted much attention continues to ferment. Volkswagen Group said that in the first half of this year, special projects due to diesel emission problems were about 700million euros, but the net working capital of the automotive sector of Volkswagen group increased to 18.7 billion euros.

Frank Witt, chief financial officer of Volkswagen Group, admitted that the first half of 2020 can be regarded as the most challenging first half of the history of Volkswagen Group due to the new crown epidemic.

for the performance in the second half of the year, Volkswagen Group expects the sales volume of the whole year of 2020 to decline compared with 2019, and the sales revenue will also decrease, but the impact of special project expenditure on operating performance will be reduced. Volkswagen Group believes operating profit is expected to grow positive for the year, although return on investment is expected to be lower than previously estimated 9 per cent.

after Volkswagen Group, Renault group also issued the first half of 2020 financial report. Affected by the new crown epidemic, in the first half of this year, Renault group achieved revenue of 18.4 billion euros, a sharp drop of 34.3% year-on-year; the loss was nearly 7.4 billion euros, which set a record high for the company. It is worth noting that in fy2019, Renault suffered its first loss in 10 years, but it was only EUR 141million.

in response, Renault said that of the huge losses, 4.8 billion euros came from Nissan, including 4.29 billion euros in asset impairment and restructuring costs. Affected by uncertainty over the new crown outbreak, Renault group did not release its annual financial guidance, but said it was cutting costs. In terms of automobile production and sales, the exhibition hall and factory were forced to close for several weeks due to the new crown epidemic. The production and sales of Renault group fell in the first half of this year. In the first half of the year, Renault group sold 1.26 million vehicles, down 34.9% year on year; its output was 1132000, down 42.3% year on year. To meet the challenges, Renault announced a cost reduction plan to cut some 146000 people worldwide and cut off nearly a fifth of its capacity to cut costs by more than 2 billion euros. Of these, some 600 million euros of cost cuts are expected to be completed this year. Renault group chief executive Luca de Mayo will be responsible for the implementation of tough layoffs in France, as well as the realignment of the company’s brand and model lineup strategy.

Luka de Mayo said in a performance statement released last week, “although the group has made unprecedented losses, it is not the final result. I’m confident in Renault’s recovery. ” Luca de Mayo revealed that the company will launch a new value value rather than scale strategy in january2021, which will change Renault’s brand image and regional focus. Under pressure, the French government, the largest shareholder of Renault group, has also helped to provide it with a 5 billion euro government backed loan. Renault said the group’s liquidity reached 16.8 billion euros by the end of June, compared with just 10.3 billion euros at the end of March.

a few days ago, PSA group issued the first half of 2020 financial report. Data show that in the first half of the year, PSA group achieved operating revenue of 25.12 billion euros, down 34.5% compared with the same period in 2019. Among them, the operating income of the auto business was EUR 19.595 billion, down 35.5% compared with the same period in 2019. In terms of sales volume, PSA group also released the sales of vehicles in January June this year. In the first half of 2020, the global cumulative sales volume of PSA group was 1.03 million, down 46% year on year, of which 885000 in European market, down 47% year on year.

despite the impact of the epidemic, the sales and revenue of PSA group have both declined, but it is worth mentioning that the company has achieved profit. The data show that the consolidated net profit of PSA group is 376million euros, of which the net profit attributable to the parent company is EUR 595million and the adjusted operating profit of automobile business is 731million euros.

in response, Tang Weishi, chairman of PSA group, said: “the financial performance of the group in the first half of this year has shown its strong business resilience, and also shows that our unremitting efforts to improve the group’s operational agility and reduce the profit and loss balance point have been rewarded in the past six years.”

PSA Group expects its sales in European auto market to decline by 25% in 2020, 30% in Russian automobile market and 30% in Latin America auto market, and 10% in China.

but PSA group is still confident in its future development. The company believes that its average operating profit margin after adjustment of automobile business in 2019-2021 will be increased from 3.7% in the first half of this year to 4.5%.

in the first half of this year, Ford’s revenue was 53.7 billion US dollars (GAAP standard) (about 374.5 billion yuan), down 32% year on year; net loss was US $900million (about RMB 6.2 billion yuan), and net profit was 1.3 billion US dollars (about 9billion yuan) in the same period last year. Although the first half of the year was lower than the same period last year, Ford achieved a profit of $1.1 billion in the second quarter of this year. This is mainly due to the $3.5 billion investment income of Argo AI, the autonomous platform company, and Ford’s performance in China. In terms of automobile sales, Ford achieved 17.77 million wholesale sales in the global market in the first half of the year, a year-on-year decline of 37%; the decline in wholesale sales in major markets such as North America, South America and Europe was generally 40%. However, thanks to the recovery of China’s economy and Ford’s series of adjustment measures in China, the company’s sales in China reached 251000, up 4% year on year.

for the second half of the performance trend, Ford said it expects to achieve a profit of $5-1.5 billion in the third quarter. However, the delivery of the first pure electric sports car, mach-e and the revived cross-country vehicle bronco, was delayed to the end of this year due to the impact of the epidemic. It is difficult to play a substantive role in the improvement of the annual performance. In addition, the global market demand caused by the epidemic is weak, and the company’s performance is afraid to face losses in the whole year. General motors, which belong to the same American car company, have also suffered heavy losses. The data show that the total contribution income of GM’s auto business and financial business in the first half of the year was 49.487 billion US dollars (about 34.1 billion yuan), down 30% year-on-year; net loss was 494million US dollars (about 3.4 billion yuan), and the net profit in the same period last year was 4.548 billion US dollars (about 31.7 billion yuan).

due to the outbreak of the outbreak in the United States, the production and sales of GM are greatly hindered. The company’s plant stoppage in the United States lasted two months and did not resume until May 18. In the first half of this year, GM’s global sales were 2.923 million, down about 90000 from last year. Among them, the sales volume in the first quarter was 1.457 million, and that in the second quarter was 1.466 million. The direct performance of the sales resistance of the company is the sharp decrease of the company’s revenue and cash flow in the second quarter. In this regard, GM’s explanation is the release of operating funds and the adverse effects of the epidemic on finance.

as of the end of the second quarter, the total working capital of the company’s auto business was USD 30.6 billion. GM said it will continue to invest part of its funds to support the development and listing of key projects, including electric vehicles, autopilot cars, full-size pickups and cross-border vehicles, while other investment plans will slow down to some extent.

GM expects the company to generate between $7 billion and $9billion in free cash flow in the second half of the year. However, General Motors chief financial officer viasuadwara said the goal was achieved mainly by the recovery and the overall situation of the automotive market. Spontaneous combustion at a Guangzhou Motor vehicle intersection and other traffic lights in Shenzhen