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Automakers show profits records

The top five automakers recorded in 2012, up a double-digit profits that reached in September, a record high of U.S. $ 61.4 billion on an annualized basis, according to the World Report publishes automobile Walk Thursday Scotiabank.

The principal economist and specialist in the automotive sector Scotiabank, Carlos Gomes, explained that this is the third increase in annual profits in a row, a trend that could continue for several years.

He then adds that the main indicators confirm that the car sales world scale could continue to grow, in a context of slow but sustained economic growth.

The report profits this year are around the level of the colossal cumulative loss of U.S. $ 69 billion incurred during the height of the tumultuous period that reign between 2007 and 2009, a sign of dramatic change known What the sector.

Profitability is increasing in most regions except Western Europe, or the sector continues to accumulate losses. It seems that North America is primarily responsible for the improvement in performance.

However, Asia (excluding Japan), walking the world's largest automotive, profits continue to grow. Nearly 30 percent of global auto sales and a quarter of all profits are realized in Asia. In this region, automakers have generated profits record U.S. $ 2.4 billion in the third quarter, an increase of 58 percent from one year to another.

"The profits are improving despite the slowdown in global economic growth during the summer, said Mr. Gomes. However most of the indicators, especially those of the two largest economies in the world, reveal some acceleration of 'economic activity recently, which should support the growth of auto sales and profits in the coming years. "

Asia (excluding Japan) and Latin America, auto sales were more than double those in Western Europe, a reversal mark compared to the last decade. Even if the price of cars is lower in emerging markets - U.S. $ 13 000 in Asia (excluding Japan) and U.S. $ 16,000 in Latin America - operating revenues automakers these steps are higher than those of steps of the Western Europe.

Scotiabank believes that the two major North American automakers, after having reduced their fixed costs by more than 25 percent during the restructuring that took place in 2008-2009, were again subtracted a percentage point their costs the last year.

In the longer term, Canadian auto sales are expected to decline in November, compared with the annual rate of 1.7 million units sold records over the last month. The Quebec and Ile-du-Prince-Edouard classes are at the forefront in October, but the lethargy of the employment market in these two provinces suggests a decline in sales this month.

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