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

NISSAN MOTOR CO., LTD.

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Volkswagen eyes 90% electric car sales in Norway next year

10/07/2020 | 07:27am EST
Beijing International Automotive Exhibition

OSLO (Reuters) - Electric cars will likely make up 90% of Volkswagen AG sales in Norway next year and could completely replace diesel and petrol engines in the Nordic country by 2023, the German auto maker's local importer said on Wednesday.

With a 2025 goal of becoming the first country to end the sale of fossil-fueled cars, oil-producer Norway exempts battery-powered vehicles from taxes imposed on petrol and diesel engines.

The policy has turned the country's car market into a laboratory for global auto makers seeking a path to a future without internal combusion engines, vaulting new brands and models to the top of bestseller lists in recent years.

A record 61.5% of new cars sold in Norway last month were powered by fully electric engines, registration data showed, up from 42.4% for 2019 as a whole.

The debut last month of Volkswagen's highly anticipated ID.3 model vaulted it to the top of the Norwegian sales ranking, outselling California-based Tesla's Model 3 and Geely's Polestar 2 from China, according to the Norwegian Road Federation.

In its 2021 fiscal spending plan on Wednesday, the Norwegian government extended its policy of zero tax on fully electric cars, providing predictability for auto makers.

"This allows us to be confident in saying we can hit 90% electric car sales next year," said Harald A. Moeller AS, the Norwegian importer of Volkswagen cars, including the Audi, Skoda and SEAT brands.

"Customers will have access to an even greater selection of electric cars in most segments in 2021," it added.

At the start of 2020, Harald A. Moeller set a 60% target for electric cars this year.

(Reporting by Terje Solsvik, editing by Louise Heavens)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AUDI AG -0.61% 1630 End-of-day quote.103.75%
BMW AG 0.89% 74.95 Delayed Quote.2.47%
GEELY AUTOMOBILE HOLDINGS LIMITED 2.18% 21.05 End-of-day quote.38.12%
LONDON BRENT OIL 0.51% 49.04 Delayed Quote.-27.36%
NISSAN MOTOR CO., LTD. 2.60% 541.5 End-of-day quote.-14.87%
TESLA, INC. 0.95% 599.04 Delayed Quote.615.99%
VOLKSWAGEN AG -0.45% 145.42 Delayed Quote.-17.49%
WTI 0.97% 46.11 Delayed Quote.-26.86%
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Financials
Sales 2021 7 860 B 75 429 M 75 429 M
Net income 2021 -503 075 M -4 828 M -4 828 M
Net Debt 2021 6 515 B 62 528 M 62 528 M
P/E ratio 2021 -4,18x
Yield 2021 -
Capitalization 2 119 B 20 336 M 20 335 M
EV / Sales 2021 1,10x
EV / Sales 2022 0,95x
Nbr of Employees 136 134
Free-Float 45,6%
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Technical analysis trends NISSAN MOTOR CO., LTD.
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 21
Average target price 461,67 JPY
Last Close Price 541,50 JPY
Spread / Highest target 173%
Spread / Average Target -14,7%
Spread / Lowest Target -63,1%
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.-14.87%20 336
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VOLKSWAGEN AG-17.49%94 185
DAIMLER AG17.91%73 797
GENERAL MOTORS COMPANY20.46%63 106
BMW AG2.47%58 162