According to the data, the sales revenue of Volkswagen Group in the first half of the year was 96.1 billion euro, a year-on-year decrease of 23.2%, and a loss of 1.4 billion euro in the interest and tax profit. Renault group’s first half revenue fell 34.3% year-on-year, with a loss of nearly 7.4 billion euro. Peugeot Citroen Group (PSA group) achieved revenue of 25.12 billion euro in the first half of the year, down 34.5% year on year. < / P > < p > it is worth mentioning that with the effective control of China’s domestic epidemic situation and the gradual recovery of the market, multinational automobile enterprises will continue to rely on the Chinese market. Cui Dongshu, Secretary General of the national passenger car market information association, said: “the recovery of China’s automobile market will bring good profits and guarantee the production and sales scale of multinational automobile enterprises.” On July 30, German local time, Volkswagen Group released its financial report for the first half of 2020. According to the data, from January to June this year, the sales revenue of Volkswagen Group was 96 billion euro, a year-on-year decrease of 23%. The profit loss before interest and tax was 1.4 billion euro, and the adjusted operating loss was 800 million euro, compared with 9.6 billion euro in the same period of last year. < / P > < p > in this regard, the Volkswagen Group believes that this is due to the decline in demand for cars. According to the data, in the first half of this year, the cumulative global sales volume of Volkswagen was 3.8931 million, down 27.4% year-on-year. Six years later, Volkswagen was overtaken by Toyota for the first time in the first half of the year, with sales of 4.164 million vehicles. < / P > < p > in addition, the high-profile “emission door” event continues to ferment. The Volkswagen Group said that in the first half of this year, the special project expenditure caused by diesel emissions was about 700 million euro, but the net working capital of the automobile sector of the Volkswagen group increased to 18.7 billion euro. Frank witter, chief financial officer of Volkswagen Group, admitted that the first half of 2020 could be regarded as the most challenging first half in the history of Volkswagen Group due to the epidemic of new crown disease. < / P > < p > for the performance of the second half of the year, Volkswagen Group expects that the sales volume of the whole year in 2020 will decline compared with that in 2019, and the sales revenue will also decrease, but the impact of special project expenditure on operating performance will be reduced. Volkswagen Group believes that the full year operating profit is still expected to achieve positive growth, but the expected return on investment is lower than the previous forecast of 9%. < p > < p > following Volkswagen Group, Renault group also released the first half of 2020 financial report. Due to the impact of the new crown epidemic, in the first half of this year, Renault group achieved revenue of 18.4 billion euro, a sharp drop of 34.3% year-on-year, and a loss of nearly 7.4 billion euro, a record high of the company. It is worth noting that in fiscal year 2019, Renault group suffered the first loss in 10 years, but the loss was only 141 million euro. In response, Renault said that 4.8 billion euro of the huge loss came from Nissan motor, including 4.29 billion euro of asset impairment and restructuring costs. Affected by the uncertainty of the new crown epidemic, Renault group did not issue full year financial guidelines, but said it was cutting costs. In terms of automobile production and sales, Renault group’s production and sales both declined in the first half of this year due to the forced closure of exhibition halls and factories for several weeks due to the new crown epidemic. In the first half of the year, Renault group sold 1.26 million vehicles, a year-on-year decrease of 34.9%; the output was 1.132 million, a year-on-year decrease of 42.3%. < p > < p > in response to the challenge, Renault announced a cost reduction plan to cut about 14600 jobs worldwide and cut nearly a fifth of its capacity to cut costs by more than 2 billion euros. Among them, about 600 million euro cost reduction is expected to be completed this year. Luca de Mayo, Renault’s chief executive, will be responsible for the tough job cuts in France, as well as restructuring the company’s brand and vehicle lineup strategy. “Although the group has experienced unprecedented losses, it is not the final result,” Luca de Mayo said in a first half results statement released last week. I am confident in Renault’s recovery. ” Luca de Mayo revealed that the company will launch a new strategy focusing on value rather than scale in January 2021, which will change Renault’s brand image and regional focus. Under pressure, the French government, Renault’s largest shareholder, also offered a 5 billion euro government backed loan. Renault said the group’s liquidity had reached 16.8 billion euros at the end of June, compared with 10.3 billion euros at the end of March. Recently, PSA group released its financial report for the first half of 2020. According to the data, PSA group achieved 25.12 billion euro of operating revenue in the first half of the year, down 34.5% compared with the same period in 2019. Among them, the operating revenue of automobile business was 19595 million euro, which decreased by 35.5% compared with the same period in 2019. < / P > < p > in terms of sales volume, PSA group also announced the auto sales from January to June this year. In the first half of 2020, the total global sales volume of PSA group was 1.03 million, a year-on-year decrease of 46%. Among them, the sales volume in European market was 885000, with a year-on-year decrease of 47%. < / P > < p > despite the impact of the epidemic, PSA group’s car sales and revenue both declined, but it is worth mentioning that the company still achieved profits. According to the data, the consolidated net profit of PSA group is 376 million euro, of which the net profit belonging to the parent company is 595 million euro, and the adjusted operating profit of automobile business is 731 million euro. In response, PSA group chairman Tang Weishi said: “the group’s financial performance in the first half of this year shows its strong business resilience, and also shows that our unremitting efforts to improve the group’s operational agility and reduce the break even point in the past six years have been reported back.” < p > < p > PSA Group expects its sales in Europe to decline by 25% in 2020, 30% in Russia and Latin America, and 10% in China. However, PSA group is still confident in its future development. The company believes that the average operating profit margin of its auto business after adjustment from 2019 to 2021 will rise to 4.5% from 3.7% in the first half of this year. In the first half of this year, Ford’s revenue was 53.7 billion U.S. dollars (GAAP standard) (about 374.5 billion yuan), a year-on-year decrease of 32%; a net loss of 900 million dollars (about RMB 6.2 billion yuan), and a net profit of 1.3 billion dollars (about 9 billion yuan) in the same period last year. Although the first half of the year’s performance was lower than the same period last year, Ford achieved a profit of $1.1 billion in the second quarter of this year. This is mainly due to Argo AI’s $3.5 billion investment return and Ford’s performance in the Chinese market. In the first half of the year, Ford achieved a total of 1.77 million wholesale sales in the global market, a year-on-year decrease of 37%; the wholesale sales of North America, South America, Europe and other major markets generally fell by 40%. However, thanks to China’s economic recovery and Ford’s series of adjustment measures in China, the company’s sales volume in the Chinese market reached 251000, up 4% year-on-year. For the performance trend of the second half of the year, Ford said it expected to achieve a profit of $500-1.5 billion in the third quarter. However, the delivery of the first pure electric sports car Mustang mach-e and revived off-road vehicle Bronco were delayed to the end of this year due to the impact of the epidemic. It is difficult to play a substantive role in improving the annual performance. In addition, the global market demand caused by the epidemic situation is weak, and the company’s annual performance may face losses. < / P > < p > General Motors, which belongs to the same U.S. auto companies, has also suffered heavy losses. Data show that in the first half of the year, GM’s auto business and financial business contributed $49.487 billion in revenue (about 345.1 billion yuan), down 30% year-on-year; the net loss was 494 million dollars (about 3.4 billion yuan), and the net profit was 4.548 billion dollars (about 31.7 billion yuan) in the same period last year. Due to the full outbreak of the epidemic in the United States, the production and sales of general motors have been greatly hindered. The company’s U.S. plant shut down for two months until May 18. In the first half of this year, GM’s global sales volume was 2.923 million, down about 900000 units compared with last year. Among them, the sales volume in the first quarter was 1.457 million and that in the second quarter was 1.466 million. < / P > < p > the direct performance of sales resistance is the sharp decrease of the company’s revenue and cash flow in the second quarter. The explanation given by GM is the release of working capital and the adverse financial impact of the epidemic. < / P > < p > as of the end of the second quarter, the total working capital of the company’s automobile business was $30.6 billion. GM said it will continue to invest part of its funds to support the development and listing of key projects, including electric vehicles, autopilot cars, full-size pickups and cross-border vehicles, while other investment plans will slow down to some extent. General Motors expects to generate $7 billion to $9 billion in free cash flow in the second half of the year. However, GM’s chief financial officer, vija suyadewala, said the realization of this goal mainly depends on the recovery of the economy and the overall situation of the automobile market.