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4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

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General Motors : GM China to launch 18 new and refreshed models in 2017

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01/19/2017 | 01:21pm CET

General Motors will launch 18 new and refreshed models this year in China to achieve continued growth in the company`s largest retail market.

Half of the models to be introduced in 2017 under the Buick, Chevrolet, Cadillac, Baojun and Wuling brands will be SUVs or MPVs. The products are expected to build on record 2016 sales of 3.87m vehicles.

The company announced earlier it would roll out more than 60 new and refreshed vehicles in China from 2016 through 2020, including 13 models launched last year.

"2017 will be an even better year for General Motors in China," said GM China president Matt Tsien. "We will continue to create safer, simpler and better ways for customers to move about productively and enjoyably.`"

This year, GM will bring to the market more new energy vehicles. The company introduced the Buick LaCrosse Hybrid, Chevrolet Malibu XL Hybrid and Cadillac CT6 Plug-In in 2016.

GM will also continue to enhance its local manufacturing capability. SAIC-GM`s Wuhan plant phase II will start operation this year. A battery assembly plant in Shanghai will begin to produce battery packs for the company`s expanded offering of electrified vehicles.

GM`s Pan Asia Technical Automotive Centre (PATAC) joint venture will open its new R&D facility in Shanghai. It will include an advanced design and styling centre, a vehicle engineering facility and a small-scale wind tunnel, and be home to a dedicated vehicle development and engineering team.

In addition, GM will continue to explore new opportunities along the automotive industry value chain, including connectivity through Shanghai OnStar, automotive financing through SAIC-GMAC and automotive insurance through INSAIC.

(c) 2017 2016 - The NewDawn Newspaper - Liberia - All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2016 163 643 M
EBIT 2016 11 427 M
Net income 2016 9 454 M
Finance 2016 9 485 M
Yield 2016 4,08%
P/E ratio 2016 6,33
P/E ratio 2017 6,71
EV / Sales 2016 0,29x
EV / Sales 2017 0,30x
Capitalization 57 117 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 37,3 $
Spread / Average Target -0,41%
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NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
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