Chinese car company Geely shares were affected by the collapse of the ruble fell over 16%
2014-12-17 18:49:01
"Local time on December 16 , Russia suffered a ".html"Black Tuesday".html" , despite the crazy
Russian central bank to raise interest rates to 17% , but the ruble also
Is once again over 19 percent devaluation . The same day, China's private car
manufacturers - Geely Automobile (00175.HK) announced that , subject to Russian
Ross Business forex exchange losses , as well as reducing the drag car sales
expected 2014 net profit fell year on year to about 50%.
Not just lucky , now, Russia has become an important market positions in China's
own brand vehicles.
According to the Automobile Association statistics , there are Geely, Great Wall
, Chery, Lifan , Citroen , FAW, BAIC , hippocampus, JAC , Changan
BYD dozen brand vehicle sales in Russia. Among them, Geely , Lifan, Great Wall ,
Chery sales in the first part of the ladder
Team.
China's own brand car dealership expansion momentum in Russia is very fierce,
since early 2014 the new 161 , which Lifan new
27 , the hippocampus and the JAC were added 25 , Changan already has 45
dealerships .
By the news of the collapse of the ruble , as of December 17 midday , Geely
Automobile shares closed at HK $ 2.61 / share , down more than 16%
; Great Wall Motor ( 601,633 ) shares dropped by 1.37 percent ; Lifan shares (
601,777 ) shares fell nearly 2 percent .
In fact , the economic downturn affected Russia , from the first half of 2013 ,
the Russian auto market is sluggish , China
Own brand in Russia overall decline in sales , especially those in Russia there
is no production base car prices .
As of November 2014 , more than a dozen Chinese brand cars in Russia is less than
the total automobile sales in 6500 , compared with the same period last year
minus
19.3% less market share dropped to 2.8% .
According to the Automobile Association statistics , in November the Russian car
market , Geely, Lifan again occupy the leading position beyond ,
Sold 1844 cars , but down 21.2 percent year on year ; Geely ranked second , sold
1603 , down 26.67 percent year on year ; Chery super
The Great Wall was third , sold 1418 .
Analysis of the industry , China 's own brand car manufacturers to export main
advantage lies in the Russian market at lower prices . The current ruble
Devaluation great impact on them . To reverse the loss scene , long-term needs by
increasing localization at the local plant , recent or want to pass
Had to raise prices to deal with.
Geely Automobile said in the announcement of December 16 , said Russia had begun
restructuring operations in order to reduce financial risks , including increased
car
Sales price. In the long run , Geely is also prepared in the main export markets
accelerate the localization of production in order to reduce foreign currency
exchange risks .
"
Russian central bank to raise interest rates to 17% , but the ruble also
Is once again over 19 percent devaluation . The same day, China's private car
manufacturers - Geely Automobile (00175.HK) announced that , subject to Russian
Ross Business forex exchange losses , as well as reducing the drag car sales
expected 2014 net profit fell year on year to about 50%.
Not just lucky , now, Russia has become an important market positions in China's
own brand vehicles.
According to the Automobile Association statistics , there are Geely, Great Wall
, Chery, Lifan , Citroen , FAW, BAIC , hippocampus, JAC , Changan
BYD dozen brand vehicle sales in Russia. Among them, Geely , Lifan, Great Wall ,
Chery sales in the first part of the ladder
Team.
China's own brand car dealership expansion momentum in Russia is very fierce,
since early 2014 the new 161 , which Lifan new
27 , the hippocampus and the JAC were added 25 , Changan already has 45
dealerships .
By the news of the collapse of the ruble , as of December 17 midday , Geely
Automobile shares closed at HK $ 2.61 / share , down more than 16%
; Great Wall Motor ( 601,633 ) shares dropped by 1.37 percent ; Lifan shares (
601,777 ) shares fell nearly 2 percent .
In fact , the economic downturn affected Russia , from the first half of 2013 ,
the Russian auto market is sluggish , China
Own brand in Russia overall decline in sales , especially those in Russia there
is no production base car prices .
As of November 2014 , more than a dozen Chinese brand cars in Russia is less than
the total automobile sales in 6500 , compared with the same period last year
minus
19.3% less market share dropped to 2.8% .
According to the Automobile Association statistics , in November the Russian car
market , Geely, Lifan again occupy the leading position beyond ,
Sold 1844 cars , but down 21.2 percent year on year ; Geely ranked second , sold
1603 , down 26.67 percent year on year ; Chery super
The Great Wall was third , sold 1418 .
Analysis of the industry , China 's own brand car manufacturers to export main
advantage lies in the Russian market at lower prices . The current ruble
Devaluation great impact on them . To reverse the loss scene , long-term needs by
increasing localization at the local plant , recent or want to pass
Had to raise prices to deal with.
Geely Automobile said in the announcement of December 16 , said Russia had begun
restructuring operations in order to reduce financial risks , including increased
car
Sales price. In the long run , Geely is also prepared in the main export markets
accelerate the localization of production in order to reduce foreign currency
exchange risks .
