Gary Silberg, KPMG’s Automotive Leader, has been at the forefront of the self-driving car dialog for practically a decade. Many automakers have subsidiaries that are finance companies, providing loans and leases to clients and sellers. They’re typically fairly profitable, but they will make automotive financial statements confusing for traders. To help, most automakers provide debt and cash move figures specific to their core automaking businesses, typically called “automotive” or “industrial” numbers. You can use these to understand a company’s debt, and for comparisons between automakers.
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