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4-Traders Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Geely Automobile Holdings Ltd    0175   KYG3777B1032

GEELY AUTOMOBILE HOLDINGS LTD (0175)
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End-of-day quote. End-of-day quote  - 07/18
20 HKD   -0.50%
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Volvo Cars plans U.S. plant expansion, doubling investment - source

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09/19/2017 | 02:57pm CEST
A Volvo logo is seen at a car dealership in Vienna

STOCKHOLM (Reuters) - Volvo Cars is doubling investment in its first U.S. plant under construction to add a second production line at a total cost of $1 billion, a source with knowledge of the plans said, as the carmaker heads for a fourth straight year of record sales.

The move to raise capacity even before completion of the plant in Charleston, South Carolina will ultimately add 2,500 workers to the 2,000 already being recruited by the Swedish carmaker ahead of its 2018 opening, the source told Reuters.

A Volvo spokeswoman declined to comment. The increased investment was first reported by the Charleston-based Post and Courier newspaper.

The Charleston plant expansion is a vote of confidence in Volvo's sales momentum, buoyed by a revamped lineup led by the flagship XC90 SUV, even as U.S. auto market growth tails off.

Under the ownership of Chinese carmaker Geely's (>> Geely Automobile Holdings Ltd) unlisted parent company, Zhejiang Geely Holding Group, Volvo has recovered from a sales slump in its final years under previous owner Ford (>> Ford Motor Company) and is now challenging larger premium rivals such as BMW (>> Bayerische Motoren Werke) and Mercedes-Benz (>> Daimler).

The company, one of Sweden's largest by revenue, has blamed supply shortages for a 7 percent dip in U.S. deliveries so far this year and vowed to achieve year-on-year sales growth for 2017 as a whole, along with a new global record.

(Reporting by Niklas Pollard; Additional reporting by Johannes Hellstrom; Editing by Laurence Frost and Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
BAYERISCHE MOTOREN WERKE -0.05% 80.76 Delayed Quote.-6.94%
DAIMLER 0.70% 58.67 Delayed Quote.-17.71%
FORD MOTOR COMPANY -0.46% 10.835 Delayed Quote.-13.05%
GEELY AUTOMOBILE HOLDINGS LTD -0.50% 20 End-of-day quote.-26.87%
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Financials (CNY)
Sales 2018 119 B
EBIT 2018 15 927 M
Net income 2018 14 058 M
Finance 2018 19 847 M
Yield 2018 2,00%
P/E ratio 2018 10,98
P/E ratio 2019 8,43
EV / Sales 2018 1,12x
EV / Sales 2019 0,87x
Capitalization 153 B
Chart GEELY AUTOMOBILE HOLDINGS
Duration : Period :
Geely Automobile Holdings  Technical Analysis Chart | 0175 | KYG3777B1032 | 4-Traders
Technical analysis trends GEELY AUTOMOBILE HOLDINGS
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 25,2  CNY
Spread / Average Target 47%
EPS Revisions
Managers
NameTitle
Sheng Yue Gui Chief Executive Officer & Executive Director
Wen Ze Xu President
Shu Fu Li Chairman
Siu Lun Ang Executive Director
Jian Yang Vice Chairman
Sector and Competitors
1st jan.Capitalization (M$)
GEELY AUTOMOBILE HOLDINGS LTD-26.87%22 908
TOYOTA MOTOR CORP2.37%212 842
VOLKSWAGEN-11.49%83 714
DAIMLER-17.71%71 561
BAYERISCHE MOTOREN WERKE-6.94%60 763
GENERAL MOTORS CORPORATION-2.73%56 412