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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Mahindra CIE Automotive Limited    532756   INE536H01010

MAHINDRA CIE AUTOMOTIVE LIMITED

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Ford's incoming COO focuses on cost cuts, launches, change

02/26/2020 | 08:32am EST
FILE PHOTO: FILE PHOTO: Ford's Farley speaks at the New York Auto Show in New York

Ford Motor Co's incoming chief operating officer outlined his priorities for the company's turnaround on Wednesday, including cost cuts and more efficient new-vehicle launches in a year in which it will introduce a redesigned F-150 full-sized pickup truck.

Other key plans include speeding up Ford's push in vehicle connectivity and its commercial vehicle business, strategy chief Jim Farley, who begins his role as Ford COO on March 1 after being appointed earlier this month, said at a Wolfe Research conference in New York.

"We have to fix a number of things," he told investors, citing a need to cut $5 billion in warranty costs, successfully launch 10 key global vehicles in the next two years, and slash material and logistics costs.

Ford has acknowledged that mistakes proved costly in its introduction of the redesigned Explorer SUV.

Electric carmaker Tesla Inc has shown how connected vehicles and over-the-air updates can build customer loyalty, Farley said, and Ford could better profit from the data generated in vehicles and improve its customer service.

Ford also will focus more heavily on advantages in commercial vehicle sales.

"This is the signature execution opportunity for Ford and growth opportunity for Ford," Farley said.

He also cited a focus on growing the electric vehicle business of the No. 2 U.S. automaker.

The Dearborn, Michigan-based company named Farley its COO on Feb. 7, and promised investors it would kick a slow-moving turnaround into higher gear.

On Tuesday, shares hit their lowest in more than a decade as a rapidly escalating coronavirus epidemic that began in China threatened sales outside the United States.

Ford is restructuring globally and faces slumping demand in China, its second-largest market. Chief Executive Jim Hackett has said the No. 2 U.S. automaker needs to move with greater speed.

It has booked $3.7 billion of a projected $11 billion in charges it previously said it would take, and expects to book another $900 million to $1.4 billion this year.

As part of its restructuring, Ford formed a wide-ranging alliance on commercial, electric and autonomous vehicles with Volkswagen AG and sold its money-losing operations in India to a venture controlled by India's Mahindra & Mahindra.

In China, Ford lost $771 million last year, about half the 2018 loss, and its market share there has shrunk. Ford has been struggling to revive sales since its business began slumping in late 2017, and prospects look more cloudy now that the world's largest market has been hit by a fast-spreading coronavirus.

(Reporting by Ben Klayman; Editing by Bernadette Baum)

By Ben Klayman


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 1.10% 1.375 End-of-day quote.-11.86%
AT HOME GROUP INC. -0.82% 24.15 Delayed Quote.57.50%
CHANGE INC. -6.93% 3225 End-of-day quote.-8.51%
CIE AUTOMOTIVE, S.A. -1.59% 22.24 Delayed Quote.0.82%
FORD MOTOR COMPANY 5.59% 12.27 Delayed Quote.32.20%
MAHINDRA CIE AUTOMOTIVE LIMITED -0.25% 178.55 End-of-day quote.3.93%
TESLA, INC. 6.18% 742.02 Delayed Quote.1.25%
THE HACKETT GROUP, INC. 10.63% 16.44 Delayed Quote.0.21%
VOLKSWAGEN AG 1.01% 172.62 Delayed Quote.13.25%
All news about MAHINDRA CIE AUTOMOTIVE LIMITED
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Financials
Sales 2020 61 314 M 848 M 848 M
Net income 2020 876 M 12,1 M 12,1 M
Net Debt 2020 10 168 M 141 M 141 M
P/E ratio 2020 81,8x
Yield 2020 0,49%
Capitalization 67 676 M 936 M 936 M
EV / Sales 2020 1,27x
EV / Sales 2021 1,02x
Nbr of Employees 10 746
Free-Float 25,4%
Chart MAHINDRA CIE AUTOMOTIVE LIMITED
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Mahindra CIE Automotive Limited Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 8
Average target price 199,38 INR
Last Close Price 178,55 INR
Spread / Highest target 41,7%
Spread / Average Target 11,7%
Spread / Lowest Target -24,4%
EPS Revisions
Managers and Directors
NameTitle
Ander Arenaza Alvarez Chief Executive Officer & Executive Director
Kiyath Jayaprakash Nair Chief Financial Officer
Shriprakash Shukla Chairman
Pankaj V. Goyal Secretary & Compliance Officer
Dhananjay Narendra Mungale Independent Non-Executive Director
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