Green shoots in China auto
Manufacturers are confirming the positive month. Ford says its two joint ventures in China both showed sales growth in April. The joint venture with Chongqing Changan Automobile showed a 38% jump in unit sales to 20,465 vehicles, while the JV with Jiangling Motors showed a 7.8% increase. Zhejiang Geely Holding Group says it posted a 2% gain during the month and SAIC Motor says its JV with General Motors knocked out a 13.6% increase in sales during the month. Meanwhile, a Volkswagen exec also indicated a sales increase for April without spilling a number.
DANA, Inc. (DAN) CEO James Kamsickas on Q1 2020 Results – Earnings Call Transcript
Craig Barber
You will find this morning’s press release and presentation are now posted on our investor website. Today’s call is being recorded and the supporting materials are the property of Dan stock at https://www.webull.com/newslist/nyse-dan. They may not be recorded, copied, or rebroadcast without our written consent.
Allow me to remind you that today’s presentation includes forward-looking statements about our expectations for Dana’s future performance. Actual results could differ from those suggested by our comments today. Additional information about the factors that could affect future results are summarized in our Safe Harbor statement found in our public filings, including our reports with the SEC
James Kamsickas
As we’ve been navigating through the coronavirus for three to four months now, starting in China, earlier in the year, certainly, everything has changed in the world since we last spoke with you in February.
We knew that COVID-19 was serious, but that was before we understood it would become a global pandemic and have such an impact on our lives, businesses, and communities. While these are unprecedented times, I want to assure you that our business is strong, and our priorities are to continue protecting the safety of our employees and communities, supporting our customers, and being prepared for the future.
Our financial health is very good — in a very good condition as our unique multi-market business approach allows for operational flexibility needed to be responsive during this difficult situation.
Manufacturing companies cannot underestimate the complexities of restarting operations. We certainly do not. Over the past week, we have restarted numerous facilities around the world at various levels of output, including many facilities in Italy where the pandemic took a terrible toll. Our supply base and Dana manufacturing facilities have done an outstanding job, restarting, and supporting our customers. So these are the points that need to be focused on dan stock. If you want to know more stock information like fox stock, you can visit at https://www.webull.com/newslist/nasdaq-fox.
