With our warranty, labor and pension costs, not to mention EV losses and having to price competitively across the lineup, there is no way that our numbers are as good as were announced last night. Throw in all the money they are throwing away on pet real estate projects (train station I'm looking at you), and there is simply no way.
There is something funny going on.....
@ 1qas. It makes sense to me. We sell to a dealer. We receive the income for that sale. Of course dealer vehicle inventory is tracked. The dealer books the income when they sell to the customer. If we sold directly to the customer we would book the income when we sold to them versus the dealer. Basic business. Not too hard to understand.
According to the TH today, the EBIT was flat in 2023. However, we made $18 billions more on sales than on 2022. That means we spent 18 billions more on 2023 than in 2022.
Then we have graphs showing we should had $16 billion EBIT instead of $10 billions, and how we "lost" $6 billions. Nope, you fools, we lost $18 billions!!! Make it make sense....
When the C-suite says all is good, and list all those sales numbers, they are talking "sales to dealers", not to people. When a vehicle rolls out of the plant, is considered "sold" and added to the books, even when the dealers have full lotes of parked and unwanted vehicles. What kind of delusion or crookey is that?
A company should keep track of both, the vehicle made numbers and the sold to consumers numbers. That's the only way to know if they are doing well.
I love when people stick their heads in the sand ....
Doubtful.
No, they aren't