He believes that the consumption concept in Chinese auto market has come into a rational and mature period and global corporate culture will serve as the guidance for the joint development of Geely and Volvo. The full text reads as follows:
Geely, which also owns the maker of London's black cabs, has already forecast a 31 percent jump in sales for the current year as affordable models introduced after the Volvo acquisition, such as its GC9 sedan and Boyue sport-utility vehicle, exceed initial estimates. Long seen as a no-frills brand, Geely has transformed itself into an automaker with up-market aspirations, using its Volvo research-and-development advantage to climb the sales table in the world's largest auto market where it ranks around seventh.
Entering major markets with an unknown Chinese brand is an expensive risk, analysts say, but investors are unperturbed: Geely's share price has trebled over the past 12 months. Geely's China sales grew 50 percent last year tovehicles, powered by the GC9 and Boyue, as well as small cars featuring Volvo technology.
It aims to top 1 million this year, though could sell far more depending on market conditions, a Geely official with direct knowledge of the matter told Reuters. Fornet profit more than doubled to 5. The figure is set to rise 37 percent to 7 billion yuan inshowed a Reuters poll of analyst estimates prior to Geely's Wednesday filing.
Geely shares were down 1. But Geely's domestic growth spurts could lessen as expansion in China's overall passenger car market slows following the reduction of subsidies for small-engine vehicles, adding impetus to any international push.
But entering markets where the brand is unknown is a gamble, and it could take years to gain traction, said James Chao, Asia-Pacific chief of consultancy IHS Markit Automotive. As there is plenty of room for growth in China, however, there is no need to be concerned about the move abroad, said fund managers at two investment firms that hold Geely stock.The report provides market share %, revenue and ranking of the 20 leading companies operating within the connected car market space • Apple Inc.
• AT&T Inc. • BMW AG • Broadcom Corporation • Daimler AG • Fiat Chrysler Automobiles • Ford Motor Company • General Motors Co. • Google Inc.
• Honda Motor Co. • Qualcomm Inc. China's Geely to buy Volvo Cars: report.
David Landes. [email protected] @davelandes. 18 June an analyst with the Chinese National Automotive Industry Consulting and Development Corporation reckons that Volvo would not be sold for less than $3 billion, the Shanghai Daily reports.
International Project Manager (m/f. Rancon markets Chinese passenger car Geely Star Business Report Geely International Corporation is the manufacturer of the world class passenger car in China and it exports the vehicles to Africa, the Middle East, central and South Africa. With MPI engine, Geely can easily be converted into CNG- driven vehicle.
Stock Futures A stock futures contract is a commitment to buy or sell the financial exposure equivalent to a specific amount (contract multiplier) of shares of the underlying stock at a predetermined price (contracted price) on a specified future date.
Dec 06, · Visiongain Report Analyses Leading Players within the $ Top 20 Consultants • Investors • National and international automobile Semiconductor Fuse Garmin Geely Auto Geely. PT Astra International Tbk is an Indonesia-based company with seven major business segments: Automotive; Financial Services; Heavy Equipment and Mining; Agribusiness; Infrastructure and Logistics; Information Technology (IT), and Property.