Ford, GM, Renault Group, and Volvo revealed have their Q1 results, showing mixed results for the leading OEMs.

Ford Credit recorded a $33m (£25m) fall in revenue, down to $481m in Q1 2017 from the $514m achieved in the same period of 2016. Calling the results “lower than expected,” Ford said that falling lease residuals were the greatest contributing factor.

The company said that Ford Credit was on track to achieve $1.5bn in profit for the full year, continuing its downward trend after falling to $1.9bn in 2016 from $2.09bn in 2015.

Ford Credit’s total liquidity in Q1 2017 was $12.4bn, $2.7bn of which was composed of cash, with $1bn of borrowing capacity on a junior subordinated revolving credit facility from GM. The earnings for GM’s Chinese motor finance joint venture SAIC-GMAC rose to $47m in Q1 2017.

For the group, Ford reported $39.1bn (£30.3bn) in revenue for the first quarter of this year, a rise of 4% year-on-year, driven largely by its domestic performance, with North American sales contributing $24bn to revenue.

Ford reported adjusted pre-tax profit of $2.2bn for the group, and projected $9bn for the full year, more than $1bn lower than the $10.4bn achieved in 2016.

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GM

GM Financial achieved $202m in net income for the first quarter of this year, up from $164m over the same period in 2016. Retail loan originations increased year-on-year, rising to $6.5bn from $4.7bn last year, and operating lease originations also rose, increasing to $6.3bn for Q1 2017, up from $6.8bn the year prior.

The outstanding balance of commercial finance receivables increased over Q1 2017, up by $700m to $11.8bn. The percentage of late retail finance receivables in GM Financial’s portfolio fell over the first quarter of this year, with those 31-60 days late falling to 2.8%, and accounts more than 60 days in arrears down to 1.2%.

Renault

Across the Atlantic, Renault Group saw a 25% increase in group revenue, up to €13.1bn (£11bn) in the first quarter of 2017. Renault Group’s worldwide registrations increased by 15.8%, and European sales rose by 10% to 478,706 vehicles.

By brand, Renault saw the largest percentage increase, rising 10.1%, and increasing its market share slightly to reach 7.7%. Though remaining a relatively small part of their sales, Renault’s electric vehicle sales rose by 46% to 10,000 cars.

Renault Group performed most strongly in its domestic market of France, with registrations rising 5.6%, and five of its passenger cars among the ten best-sellers.

The group’s UK sales also rose, with a year-on-year increase of 3.8% to 39,498 vehicles sold in the first quarter of this year. In 2017, Renault Group projects that it will achieve between 1.5% and 2.5% growth globally, with both the French and European markets showing 2% growth.

Volvo

Elsewhere in Europe, Volvo saw its operating profit rise to SEK3.5bn (£307m) in Q1 2017, though reported a lower operating margin of 7.3% compared to Q1 2016.

Volvo said its operating margin was lower due to costs related to the launch of its 90 series cars, the XC60, and its hiring drive, which was seen almost 5,000 join the company since Q1 2016.

Volvo’s global sales rose by 7.1% year-on-year to 129,148 cars, and Q1 2017 saw revenues increase 13% year-on-year to SEK 42bn. In Europe, the Middle East, and Africa (EMEA), Volvo’s sales rose 9.2% to 78,820 cars, which Volvo says was driven by strong performance in Sweden, the UK, and Germany.