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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  SAIC Motor Corporation Limited    600104   CNE000000TY6

SAIC MOTOR CORPORATION LIMITED

(600104)
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End-of-day quote. End-of-day quote Shanghai Stock Exchange - 10/23
21.25 CNY   +0.52%
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SAIC Motor : GM venture's mini car becomes China's most sold EV, surpassing Tesla's Model 3

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09/08/2020 | 05:39am EDT
The GM logo is seen at the General Motors Assembly Plant in Ramos Arizpe

A micro electric vehicle (EV) by General Motors' local Chinese joint venture becomes the most sold EV model in China, with 15,000 cars sold in China last month, followed by Tesla Inc's 11,800 Model 3 sedans, industry data showed.

The model, the Hongguang MINI EV, is a two-door micro electric vehicle launched by the joint venture between GM, SAIC Motor Corp and another partner, SGMW, in July.

The starting price for the Hongguang MINI EV is 28,800 yuan ($4,200), less than 10% of the 291,800 yuan starting price for Tesla's China-made Model 3 vehicles before they get government subsidies.

GM's new China boss Julian Blissett told Reuters in August that it would renew its focus on luxury Cadillacs, roll out bigger but greener sports-utility vehicles (SUVs) and target entry-level buyers with low-cost micro electric vehicles.

Tesla sold 11,000 Shanghai-made Model 3 vehicles in China in July, according to the China Passenger Car Association (CPCA). CPCA uses a different counting method than Tesla's official deliveries. Tesla and GM did not immediately respond to a request for comment.

($1 = 6.8350 Chinese yuan renminbi)

By Yilei Sun and Brenda Goh


Stocks mentioned in the article
ChangeLast1st jan.
SAIC MOTOR CORPORATION LIMITED 0.52% 21.25 End-of-day quote.-10.90%
TESLA, INC. -1.21% 420.63 Delayed Quote.402.75%
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Financials
Sales 2020 755 B 113 B 113 B
Net income 2020 22 518 M 3 369 M 3 369 M
Net cash 2020 61 188 M 9 154 M 9 154 M
P/E ratio 2020 11,1x
Yield 2020 4,08%
Capitalization 248 B 37 129 M 37 143 M
EV / Sales 2020 0,25x
EV / Sales 2021 0,22x
Nbr of Employees 216 360
Free-Float 22,3%
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Technical analysis trends SAIC MOTOR CORPORATION LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 23,14 CNY
Last Close Price 21,25 CNY
Spread / Highest target 42,6%
Spread / Average Target 8,91%
Spread / Lowest Target -27,7%
EPS Revisions
Managers
NameTitle
Xiaoqiu Wang President & Director
Hong Chen Chairman
Bai Ping Bian Chairman-Supervisory Board
Yong Wei Chief Financial Officer & Board Secretary
Bao Xin Jiang Member-Supervisory Board
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