John Casesa
John Casesa
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.
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,
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.
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.
justify number tangible tough
which is a tough number to justify without tangible results.
adopt aggressive gm greater management pressure turnaround
The pressure on GM management is greater than ever ... to adopt a more aggressive turnaround strategy.
hope reaction reflects simply strike
Today's reaction simply reflects the hope there's not going to be a strike that shuts down the industry.
buyers buying car confidence confident consumer future history influenced last month months next purchase six struggle ticket trend unless varies year
Car buying is influenced by consumer confidence. And confidence varies month to month but on a trend basis, it is down a lot in the last year, year-and-a-half. And my own view, unless it bounces back and unless history is wrong, we're going to really struggle to get these buyers in next year because they're just not as confident about the future to make a big ticket purchase as they were six months or a year ago.