John Casesa
John Casesa
expect fleet gradually improve likely mix sales truck
We expect the truck mix to gradually improve through the remainder of the year, but fleet sales will likely recover, offsetting some of the mix benefits.
factors likely outright per prevent remain several spending unit
Several factors should prevent an outright decline, as spending per unit will likely remain strong.
apart companies effect gm likely looks separate worth
It looks increasingly likely to us that GM will effect some kind of a transaction that will separate these two businesses. These two companies will be worth more apart than they are together.
bonus car cash eventually gm happened host inventory likely losing maintain program sales strong
GM likely doesn't have enough inventory to maintain a strong sales pace. And inevitably, the employee-pricing program is losing its effectiveness, as eventually happened to zero-percent financing, hot-button bonus cash programs, talk-show host car giveaways and other promotions.
gm inventory likely maintain sales strong
GM likely doesn't have enough inventory to maintain a strong sales pace.
ford hold lasting likely negative press relatively remains stock
In short, while the negative press will likely hold back the stock near-term, we don't think it will have a lasting impact, and in our view, Ford remains relatively attractive,
conditions difficult earnings expect growth improvement market mix overwhelm solid
We expect this mix improvement to overwhelm difficult market conditions for the foreseeable future, and therefore, we now expect solid earnings growth in 2002,
decrease driven driving earnings fell fleet gm impact improvement increase late light lower mix negative north performance pricing remains results richer truck trucks
These results are reminiscent of Ford's late 1990's performance -- driving earnings improvement with a richer truck mix, ... GM remains market-share driven and its North American pricing fell 1.0 percent. Fortunately, it was able to increase its mix of light trucks and decrease its fleet sales, offsetting partially the negative impact of lower prices.
basement discover good hate investors leak sell trying
These disclosures don't look very good when investors are already skittish about what's going on in the automotive industry. You hate to discover a leak in your basement when you're trying to sell your house.
anywhere effect gm lost percent quarter represents ripple sales second supplies
The ripple effect on GM supplies is profound. GM represents anywhere between 15 and 20 percent of the sales of most big supplies, so these are lost sales and lost profits. And you'll see it in their second quarter results.
auto continue european operations
Even excluding the charge, European auto operations continue to be a big drag.
bought car everybody growth needs though
Even though the U.S. economy's pretty healthy, there's not much growth in demand. Everybody who needs a car has already bought one.
appear both capacity economic growth rapid sharp
We think it would take a rapid acceleration in economic growth and/or sharp capacity reduction, both of which appear unlikely.
airlines companies difficult environment expect industries involved radical undergone volatile
Like steel, textiles, airlines and other American industries that have undergone radical restructurings, ... we expect an increasingly volatile and difficult environment for the companies involved and for their shareholders.