MWW Automotive Group delivers its accessory products, design and painting services to select global automobile manufacturers. The company provides substantial added value to the sale of vehicles for leading automobile manufacturers such as Ford, Volkswagen, BMW, Hyundai, Kia and Toyota. MWW Automotive today announced figures for its fiscal first quarter ended December 31, 2009.
The company reported that it generated $1,508,276 in revenues for its fiscal first quarter. This is an increase of $112,116 as compared to the same quarter from a year ago. MWW Automotive also increased its gross profit for the fiscal first quarter by 12.6 percent versus the same period in 2008. The increase in revenues is due to the progress the company is making on expanding into new geographic and vertical markets and the signing of new customers. MWW Automotive has commenced new production for automakers such as Hyundai, Nissan and Ford.
MWW Automotive Group has been able to make strong progress on the implementation of their business strategy. The goal of the company’s strategy is to become the leading designer and manufacturer of original equipment accessories for the global automotive industry for the customization of cars, light trucks and SUVs – a high margin sector of the industry.
The company was very pleased with its results for the fiscal first quarter and rightly so. Despite the general downturn in sales in the automotive industry due to the economic slowdown, MWW sales actually increased in their fiscal first quarter. MWW has clearly been in an uptrend for the last consecutive seven months, bucking the general industry trend.