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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

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Russian dealer looks to zero customs tariff to lift Tesla sales

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08/03/2020 | 09:50am EDT
A Tesla Model X electric vehicle is shown in Moscow

Russia's main unofficial Tesla dealer hopes zero customs fees will lift sales of the U.S. vehicles, despite their relatively high price and a fledgling charging infrastructure.

Only 353 new electric cars were sold in Russia last year, including 81 Teslas, data from Autostat shows.

While Tesla has not officially entered the Russian market, Tesla Club helps customers, including businessmen and politicians, buy the cars abroad and maintain them.

The majority of electric vehicles sold in Russia, where there are significantly fewer charging points for electric vehicles than in Europe or the United States, were Nissan Leaf and Jaguar [TAMOJL.UL] I-Pace vehicles.

"Customs fees have decreased, so demand has increased. People took it very well," Alexei Eremchuk, head of Tesla Club, Russia's unofficial dealership in Moscow, told Reuters.

Moscow cut customs fees for electric cars to zero from May, down from 48-54% for individuals and 15% for legal entities.

"This year the (Tesla) fleet (in Russia) may easily increase by 1,000 cars, including used ones," Eremchuk told Reuters.

He has sold about 400 of the approximately 500 cars registered in Russia so far. The Russian market is tiny for Tesla vehicles. Tesla sold 367,656 cars globally in 2019.

Prices for new Teslas in Russia start from 4.3 million roubles (44,591.9 pounds) for a basic Model 3 and on average people pay between 7 and 8 million roubles.

This is the same price range as Daimler's Mercedes-Benz and BMW, whose sales both exceeded 40,000 last year in Russia.

(Reporting by Gleb Stolyarov; Editing by Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
BMW AG 0.44% 62 Delayed Quote.-15.23%
NISSAN MOTOR CO., LTD. 2.75% 385.3 End-of-day quote.-39.43%
TESLA, INC. -0.51% 419.07 Delayed Quote.400.88%
TOYOTA MOTOR CORPORATION -0.92% 7113 End-of-day quote.-7.79%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.40% 79.007 Delayed Quote.27.37%
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Financials
Sales 2021 7 708 B 72 968 M 72 968 M
Net income 2021 -536 150 M -5 076 M -5 076 M
Net Debt 2021 6 328 B 59 910 M 59 910 M
P/E ratio 2021 -2,91x
Yield 2021 -
Capitalization 1 508 B 14 275 M 14 273 M
EV / Sales 2021 1,02x
EV / Sales 2022 0,90x
Nbr of Employees 136 134
Free-Float 45,6%
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Technical analysis trends NISSAN MOTOR CO., LTD.
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TrendsBearishNeutralBearish
Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 436,11 JPY
Last Close Price 385,30 JPY
Spread / Highest target 284%
Spread / Average Target 13,2%
Spread / Lowest Target -48,1%
EPS Revisions
Managers
NameTitle
Makoto Uchida Executive President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta COO & Representative Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
NISSAN MOTOR CO., LTD.-39.43%14 275
TOYOTA MOTOR CORPORATION-7.79%190 074
VOLKSWAGEN AG-21.28%84 975
DAIMLER AG-7.45%57 201
BMW AG-15.23%46 426
GENERAL MOTORS COMPANY-21.48%42 131