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

Delayed Quote. Delayed  - 06/23 10:00:48 pm
34.2 USD   +0.03%
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General Motors Company : Chevrolet October Sales Continues Strong Momentum

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11/08/2012 | 12:08pm CEST
Chevrolet October Sales Continues Strong Momentum Thu, Nov 8 2012
  • Retail unit sales in October at 6,707(best October in Chevrolet Thailand history)
  • Total sales increase 252%  compared to same period in 2011  
  • Sonic sales increased 18% over September
  • New dealerships opening in Q4 demonstrates Chevrolet strength in the market

Bangkok, Thailand - Chevrolet continues the strong sales momentum in the fourth quarter, selling 6,707 units in October, bring the total vehicles sold since the beginning of 2012 to 59,652 - representing a 252% increase compared to the same period in 2011.

The new,  sporty, five-door hatchback version of the Sonic began shipping to dealers from the Rayong manufacturing facility at the end of September, boosting sales of Chevrolet's latest model by 18% during the month of October.  The aerodynamic lines, motorbike-inspired design, and better fuel efficiency allows it to compete with the best subcompacts on the market today.  Chevrolet will also begin offering a limited edition Cruze in a special Ivory White color in November.

The Colorado continues to lead Chevrolet sales in the domestic market with 2,829 units sold.   The Captiva sold 663 units while the Trailblazer, sold 788 units nationwide.

Chevrolet also welcomed a new dealership to the Northeast region of Kohn Kaen in October, making KonkaenPijitPhet Motor Car Co, Ltd the 90th Chevrolet dealer in Thailand.  Chevrolet expects to rapidly increase the number of dealerships in Thailand, with plans to have a total of 110 dealers by the end of 2013. 

"Chevrolet continues to experience a strong momentum in domestic sales," said Antonio Zara, Vice President Sales, Marketing and After Sales GM Thailand.  "With the recent launch of the Sonic hatchback; the opening of the new Chevrolet dealership in the Khon Kaen region, and plans to continue expanding our dealer network across the country, Chevrolet's performance and brand strength will continue to grow beyond our expectations."

Chevrolet's market share in the Southeast Asia region has nearly tripled to 2.9% from 1.4% in October 2011. This represents 7,730 cars sold last month in total. Best performers are Indonesia with 411 units including the new Aveo launch; Malaysia with 156 units; the Philippines with 300 units including the Trailblazer launch; and Singapore with 126 units.

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About Chevrolet Sales (Thailand) Limited

Chevrolet Sales Thailand (Chevrolet) Limited was established on January 1, 2000, as a subsidiary of General Motors, one of the largest automakers in the world. The first vehicle introduced was the Chevrolet Zafira, the first multipurpose vehicle (MPV) launched in the Thai market. Today, Chevrolet has a comprehensive range of vehicles, including the Sonic, Aveo CNG, Cruze, Captiva, Colorado and Trailblazer. Chevrolet is committed to offering the best cars and trucks to its customers in terms of quality, performance and fuel economy. The company is equally committed to ensuring second-to-none aftersales service for its customers, backed by a growing dealer network in Thailand and Southeast Asia.

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About Chevrolet

Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 140 countries and selling more than 4 million cars and trucks a year.  Chevrolet provides customers with fuel-efficient vehicles that feature spirited performance, expressive design, and high quality.www.chevrolet.com.

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Financials ($)
Sales 2017 159 479 M
EBIT 2017 11 440 M
Net income 2017 8 822 M
Debt 2017 3 032 M
Yield 2017 4,56%
P/E ratio 2017 5,75
P/E ratio 2018 5,88
EV / Sales 2017 0,34x
EV / Sales 2018 0,29x
Capitalization 51 612 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 39,3 $
Spread / Average Target 15%
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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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