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Competing in the Global Truck Industry Emerging Markets Spotlight
KPMG INTERNATIONAL Competing in the Global Truck Industry Emerging Markets Spotlight Challenges and future winning strategies September 2011 kpmg.com ii | Competing in the Global Truck Industry – Emerging Markets Spotlight Acknowledgements We would like to express our special thanks to the Institut für Automobilwirtschaft (Institute for Automotive Research) under the lead of Prof. Dr. Willi Diez for its longstanding cooperation and valuable contribution to this study. Prof. Dr. Willi Diez Director Institut für Automobilwirtschaft (IfA) [Institute for Automotive Research] [email protected] www.ifa-info.de We would also like to thank deeply the following senior executives who participated in in-depth interviews to provide further insight: (Listed alphabetically by organization name) Shen Yang Senior Director of Strategy and Development Beiqi Foton Motor Co., Ltd. (China) Andreas Renschler Member of the Board and Head of Daimler Trucks Division Daimler AG (Germany) Ashot Aroutunyan Director of Marketing and Advertising KAMAZ OAO (Russia) Prof. Dr.-Ing. Heinz Junker Chairman of the Management Board MAHLE Group (Germany) Dee Kapur President of the Truck Group Navistar International Corporation (USA) Jack Allen President of the North American Truck Group Navistar International Corporation (USA) George Kapitelli Vice President SAIC GM Wuling Automobile Co., Ltd. (SGMW) (China) Ravi Pisharody President (Commercial Vehicle Business Unit) Tata Motors Ltd. (India) © 2011 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved. Competing in the Global Truck Industry – Emerging Markets Spotlight | iii Editorial Commercial vehicle sales are spurred by far exceeded the most optimistic on by economic growth going in hand expectations – how can we foresee the with the rising demand for the transport potentials and importance of issues of goods. -
CHINA FIELD TRIP May 10Th –12Th, 2011
CHINA FIELD TRIP May 10th –12th, 2011 This presentation may contain forward-looking statements. Such forward-looking statements do not constitute forecasts regarding the Company’s results or any other performance indicator, but rather trends or targets, as the case may be. These statements are by their nature subject to risks and uncertainties as described in the Company’s annual report available on its Internet website (www.psa-peugeot-citroen.com). These statements do not reflect future performance of the Company, which may materially differ. The Company does not undertake to provide updates of these statements. More comprehensive information about PSA PEUGEOT CITROËN may be obtained on its Internet website (www.psa-peugeot-citroen.com), under Regulated Information. th th China Field Trip - May 10 –12 , 2011 2 PSA in Asia – Market Forecast, PSA in China: ongoing successes and upsides Frédéric Saint-Geours Executive VP, Finance and Strategic Development Grégoire Olivier, Executive VP, Asia Table of contents Introduction China: the new auto superpower China: a global economic power The world’s largest automotive market The growth story is set to continue PSA in China China: a second home market for PSA 2 complementary JVs Key challenges in China and PSA differentiation factors A sustainable profitable growth Extending the Chinese Success ASEAN strategy Capturing the Indian opportunity th th China Field Trip - May 10 –12 , 2011 4 PSA – a global automotive player (1/2) > 39% of PSA’s 2010 sales are realized outside of Europe, of -
Groupe Renault Sets Its New Strategy for China
PRESS RELEASE Groupe Renault sets its new Strategy for China • Groupe Renault will focus in China on light commercial vehicles (LCV) and electric vehicles (EV). • Groupe Renault will transfer its shares in Dongfeng Renault Automotive Company Ltd (DRAC) to Dongfeng Motor Corporation. DRAC will stop its Renault brand-related activities. • LCV business is operated through Renault Brilliance Jinbei Automotive Co., Ltd. (RBJAC), leveraging Jinbei legacy with Renault know-how. • EV business will be developed through the two existing joint ventures: eGT New Energy Automotive Co., Ltd (eGT) and Jiangxi Jiangling Group Electric Vehicle Co. Ltd (JMEV). Boulogne-Billancourt, April 14th, 2020 - Groupe Renault unveiled today its new strategy for the Chinese Market, building on two of its key pillars: Electric Vehicles (EV) and Light Commercial Vehicles (LCV). Within this new strategy, Groupe Renault activities in China will be driven as follow: About Chinese ICE Passenger Car Market Regarding ICE passenger car, Groupe Renault has entered into a preliminary agreement with Dongfeng Motor Corporation under which Renault transfers its shares to Dongfeng. DRAC will stop its Renault brand-related activities. Renault will continue to provide high quality aftersales service for its 300,000 customers through Renault dealers but also through Alliance synergies. Further development for Renault brand passenger cars will be detailed later within future new mid-term-plan Renault. Furthermore, Renault and Dongfeng will continue to cooperate with Nissan on new generation engines like components supply to DRAC and diesel license to Dongfeng Automobile Co., Ltd. Renault and Dongfeng will also engage in innovative cooperation in the field of intelligent connected vehicles. -
2016 Annual Report
ANNUAL REPORT 2016 年 報 2016 年報 ANNUAL REPORT 2016 Contents Corporate Profile 02 Corporate Information 04 Our Products 06 Business Overview 10 Financial Highlights 20 Chairman’s Statement 22 Management Discussion and Analysis 24 Directors and Senior Management 33 Directors’ Report 41 Corporate Governance Report 58 Independent Auditor’s Report 69 Consolidated Balance Sheet 76 Consolidated Income Statement 78 Consolidated Statement of Comprehensive Income 79 Consolidated Statement of Changes in Equity 80 Consolidated Statement of Cash Flows 81 Notes to the Consolidated Financial Statements 82 Five Years’ Financial Summary 146 NEXTEER AUTOMOTIVE GROUP LIMITED ANNUAL REPORT 2016 02 Corporate Profile Nexteer Automotive Group Limited (the Company) together with its subsidiaries are collectively referred to as we, us, our, Nexteer, Nexteer Automotive or the Group. Nexteer Automotive is a global leader in advanced steering and driveline systems, advanced driver assistance systems (ADAS) and autonomous vehicle technologies. In-house development and full integration of hardware, software and electronics give Nexteer a competitive advantage as a full service supplier. Our vision is to remain a leader in intuitive motion control – leveraging our strengths in advanced steering and driveline systems. We maintain product focus on electric power steering (EPS), a socially responsible technology that offers automakers increased fuel economy and reduced emissions. Nexteer Automotive has put more than 40 million EPS units on the road, since 1999, saving more than 4 billion gallons of fuel. Our ability to integrate our systems seamlessly into automotive original equipment manufacturer (OEM) vehicles is a testament of our 110-year heritage of vehicle integration expertise and product craftsmanship. -
Guangzhou Automobile Group
China / Hong Kong Company Guide Guangzhou Automobile Group Version 6 | Bloomberg: 2238 HK Equity | 601238 CH Equity | Reuters: 2238.HK | 601238.SS Refer to important disclosures at the end of this report DBS Group Research . Equity 7 May 2019 Japanese JCEs leading growth H: BUY Last Traded Price (H) ( 7 May 2019):HK$8.14(HSI : 29,363) More clarity on JVs future strategy. Guangzhou Auto (GAC) and its Price Target 12-mth (H):HK$9.60 (17.9% upside) (Prev HK$17.86) Japanese JCE partners have agreed on key priorities to grow the business. The medium-term plans include capacity expansion and new A: HOLD model development (both traditional and new energy vehicles). Last Traded Price (A) ( 7 May 2019):RMB11.61(CSI300 Index : 3,721) Price Target 12-mth (A):RMB11.30 (2.7% downside) (Prev RMB21.71) Another key factor is that both partners have agreed to maintain the current shareholding structure, hence removing uncertainties. The Analyst Rachel MIU+852 36684191 [email protected] Japanese auto brands have gained market share from 15.6% in December 2016 to 19% in February 2019 aided by their product What’s New range, pricing, and proactive business strategy. Despite the tough • More clarity on development of Japanese JCEs, key 1Q19 auto market, GAC’s Japanese JCEs managed to chalk up strong earnings driver in the future volume sales growth and decent profit contributions to the group. • Self-brand going through short-term adjustment and Where we differ? We expect normalisation of Trumpchi sales to have should start to normalise in 2H19 a meaningful impact on earnings, on anticipation of a recovery in • Maintain BUY, TP revised down slightly to HK$9.60 the PV market in 2H19. -
2333 a Share Stock Code: 601633
(a joint stock company incorporated in the People's Republic of China with limited liability) H Share Stock Code: 2333 A Share Stock Code: 601633 * For identification purpose only IMPORTANT NOTICE I. The Board, the Supervisory Committee and the directors, supervisors and senior management of the Company warrant that the contents of this annual report are true, accurate and complete and do not contain any false representations, misleading statements or material omissions, and jointly and severally take legal liability for its contents. II. All the directors of the Company attended the Board meeting. III. Deloitte Touche Tohmatsu Certified Public Accountants LLP has issued the standard audited report for the Company without qualified opinion. The financial information in the annual report was prepared in accordance with China Accounting Standards for Business Enterprises and the relevant laws and regulations. IV. Wei Jian Jun, person-in-charge of the Company, Li Hong Shuan, person-in-charge of the accounting affairs and Lu Cai Juan, person-in-charge of the accounting department (head of the accounting department), declare that they warrant the truthfulness, accuracy and completeness of the financial report in this annual report. V. Proposal of profit distribution or capitalization of capital reserve during the Reporting Period reviewed by the Board As audited by Deloitte Touche Tohmatsu Certified Public Accountants LLP, the net profit of the Group and net profit attributable to shareholders of the Company in 2020 amounted to RMB5,362,490,194.32 and RMB5,362,490,194.32 respectively. The Company has implemented the profit plan for the first three quarters of 2020, pursuant to which it distributed a cash dividend of RMB0.28 (tax inclusive) per share to all shareholders, with a total cash dividend of RMB2,569,266,924.00 (tax inclusive) distributed. -
200218 EV Volumes Monthly Xev Sales Tracker
Global xEV This is a sample version of our ~ 90 page Global xEV Sales Tracker. Sales Tracker The price is 7 500€ / year and includes 12 updates. December and Full Year 2019 Data Center subscribers have 20 % lower price Contact [email protected] for info EVVOLUMES.COM Table of Contents Executive Summary 3 World 6 China 29 USA 36 Europe 43 Norway 51 UK 58 France 65 Germany 72 Japan 79 About EV-volumes 86 xEV Sales Tracker December & FY 2019 2 19-02-2020 EVVOLUMES.COM 2.2 million EVs were sold in 2019, growing by only 11% compared to last year and still representing less than 3% of PV sales. USA were down, China stable and Europe significantly up. Countries • China – 1.2 million EVs (5.2% penetration) - up 6% - 80% BEV – BJEV EU-Series = most solD EV • Europe – 565k EVs (3.1% penetration) - up 45% - 64% BEV – Tesla MoDel 3 = most solD EV • U.S.A. – 320k EVs (1.9% penetration) - down 12% - 73% BEV – Tesla MoDel 3 = most solD EV • Germany – 106k EVs (2.9% penetration) - up 60% - 64% BEV – Renault Zoé= most solD EV • Norway – 79k EVs (56% penetration) - up 9% - 76% BEV – Tesla MoDel 3 = most solD EV • UK – 75k EVs (3.2% penetration) – up 24% - 51% BEV – Tesla MoDel 3 = most solD EV • France – 62k EVs (2.8% penetration) - up 35% - 70% BEV – Renault Zoé = most solD EV • Japan – 44k EVs (1% penetration) - down 18% - 53% BEV – Nissan Leaf = most solD EV OEMs • Tesla won the OEM crown once again in front of BYD anD BAIC with more than 360k EVs solD • VW Group is finally serious about EVs and will overtake BMW Group in 2020 to become the 1st European OEM Models • Tesla MoDel 3 won the EV crown once again with more than 300k units solD • More than 50k Tesla MoDel 3 were solD in December while there wasn’t any European EV in Top 10 xEV Sales Tracker December & FY 2019 3 19-02-2020 EVVOLUMES.COM China represented 58% of global BEV market in December while Europe kept its lead on PHEVs with 46% market share and South Korea on FCEVs with 55% market share (300 units). -
CHINA CORP. 2015 AUTO INDUSTRY on the Wan Li Road
CHINA CORP. 2015 AUTO INDUSTRY On the Wan Li Road Cars – Commercial Vehicles – Electric Vehicles Market Evolution - Regional Overview - Main Chinese Firms DCA Chine-Analyse China’s half-way auto industry CHINA CORP. 2015 Wan Li (ten thousand Li) is the Chinese traditional phrase for is a publication by DCA Chine-Analyse evoking a long way. When considering China’s automotive Tél. : (33) 663 527 781 sector in 2015, one may think that the main part of its Wan Li Email : [email protected] road has been covered. Web : www.chine-analyse.com From a marginal and closed market in 2000, the country has Editor : Jean-François Dufour become the World’s first auto market since 2009, absorbing Contributors : Jeffrey De Lairg, over one quarter of today’s global vehicles output. It is not Du Shangfu only much bigger, but also much more complex and No part of this publication may be sophisticated, with its high-end segment rising fast. reproduced without prior written permission Nevertheless, a closer look reveals China’s auto industry to be of the publisher. © DCA Chine-Analyse only half-way of its long road. Its success today, is mainly that of foreign brands behind joint- ventures. And at the same time, it remains much too fragmented between too many builders. China’s ultimate goal, of having an independant auto industry able to compete on the global market, still has to be reached, through own brands development and restructuring. China’s auto industry is only half-way also because a main technological evolution that may play a decisive role in its future still has to take off. -
Chinese Investment in Europe: Corporate Strategies and Labour Relations
European Trade Union Institute Bd du Roi Albert II, 5 1210 Brussels Belgium +32 (0)2 224 04 70 [email protected] www.etui.org Chinese investment in Europe: corporate strategies and labour relations Edited by Jan Drahokoupil Chinese investment in Europe: China’s global outward foreign direct investment (FDI) has increased substantially over the corporate strategies last decade, with Europe as a key destination. The upsurge in Chinese outward FDI indicates a rebalancing of global political-economic relations, with China and its companies acquiring new and labour relations roles and gaining economic power. — Bringing together research on the rise of Chinese multinational companies and their activities in Europe, this book focuses on the business strategies of Chinese investors and on employment Edited by relations in Chinese-owned companies in Europe. It addresses the topic on three levels: it Jan Drahokoupil analyses the emergence of major ‘challenger multinationals’ that have risen from a peripheral position to become global market leaders, maps the patterns of Chinese investment in Europe, and includes case studies that show the diversity of these investments. The book aims to provide a holistic overview of Chinese activities in Europe, with individual chapters focusing on key sectors and covering the dierent types of investment across the continent. Chinese investment in Europe: in Europe: Chinese investment relations and labour strategies corporate by Jan Drahokoupil Edited D/2017/10.574/16 ISBN: 978-2-87452-454-7 Chinese investment in Europe: corporate strategies and labour relations Chinese investment in Europe: corporate strategies and labour relations — Edited by Jan Drahokoupil Brussels, 2017 © Publisher: ETUI aisbl, Brussels All rights reserved Print: ETUI Printshop, Brussels D/2017/10.574/16 ISBN: 978-2-87452-454-7 (print version) ISBN: 978-2-87452-455-4 (electronic version) The ETUI is financially supported by the European Union. -
Dongfeng Motor (489.HK) – Initiation of Coverage 10 January 2013
Dongfeng Motor (489.HK) – Initiation of Coverage 10 January 2013 Dongfeng Motor (489.HK) Automobile Sector 10 January 2013 Research Idea: Moving Up the Gears Target Price HK$15.00 We rate Dongfeng Motor (DFG) a Buy with 12-month target price of 12m Rating Buy HK$15.00. Its sales have dropped since Q3 2012 amid Sino-Japan tensions, 16% upside but we expect a recovery to pre-protest levels in Q1 2013 and growth to DFG – Price Chart (HK$) persist backed by a strong brand lineup. As one of the nation’s leading 22 Bull, HK$20.90 20 automakers, DFG is a good proxy for a secular sector growth story. 18 16 Base, HK$15.00 Three reasons to Buy: 14 12 10 . Sino-Japanese tensions have eased. DF Honda’s sales rebounded to 8 pre-protest levels while DF Nissan’s rebounded to 80% of pre-protest 6 Bear, HK$6.40 Jan12 May12 Sep12 Jan13 May13 Sep13 Jan14 levels in December, well above expectations. Consumer concerns about damage to vehicles should be offset by Sino-Japan auto JVs Price (HK$) 12.96 guaranteeing to repair damage caused during the recent unrest. We Mkt cap – HK$m (US$m) 112,354 (14,494) expect DFG’s sales volume growth to rebound from down 0.8% to +11% in FY13. Free float – % (H-share) 100.00 3M avg. t/o– HK$m (US$m) 299.5 (38.6) . Strong brand lineup can facilitate market-share gains. DFG has Major shareholder (%) three JVs and a comprehensive range of well-received models, which should help minimize sales fluctuations. -
Automotive Industry Weekly Digest
Automotive Industry Weekly Digest 25-29 January 2021 IHS Markit Automotive Industry Weekly Digest - Jan 2021 WeChat Auto VIP Contents [OEM Highlights] Great Wall to reshape brand image with new models 3 [OEM Highlights] VW begins sales of ID.4 CROZZ in China 4 [Sales Highlights] Chinese new vehicle sales contract 2% during 2020; demand rebound expected in 2021 6 [Sales Highlights] VW Group reports sales decline of 9.1% in China during 2020 8 [Technology and Mobility Highlights] Huawei develops smart roads in Wuxi that communicate with driverless vehicles 10 [Technology and Mobility Highlights] Geely teams up with Tencent to develop smart car technologies 10 [Supplier Trends and Highlights] DENSO collaborate with AEVA to develop next-generation FMCW lidar system 12 [Supplier Trends and Highlights] Freudenberg Sealing Technologies develops new DIAvent valves for safer lithium-ion batteries 12 [GSP] India/Pakistan Sales and Production Commentary -2020.12 14 [VIP ASSET] Stellantis: Scale Creates Opportunity 16 [VIP ASSET] Stellantis expects scale to support strong brand stable, investment into new tech 17 Confidential. ©2021 IHS Markit. All rights reserved. 2 IHS Markit Automotive Industry Weekly Digest - Jan 2021 WeChat Auto VIP [OEM Highlights] Great Wall to reshape brand image with new models IHS Markit perspective Implications Great Wall has delivered satisfactory sales results during 2020 despite the disruption from the coronavirus disease 2019 (COVID-19) pandemic. The automaker's sales rose by 5% to more than 1.11 million vehicles during 2020 on the back of strong demand for its new models, including the Haval H6 and the Pao pickup. The sales volumes of 1.11 million units exceeded the company’s target set for the year, which was 1.02 million units. -
2016 Annual Report
東風汽車集團股份有限公司 DONGFENG MOTOR GROUP COMPANY LIMITED Stock Code: 489 2016 Annual Report * For identification purposes only Contents Corporate Profile 2 Chairman’s Statement 3 Report of Directors 7 Management Discussion and Analysis 42 Profiles of Directors, Supervisors and Senior Management 51 Report of the Supervisory Committee 59 Corporate Governance Report 61 Independent Auditor’s Report 84 Consolidated Income Statement 91 Consolidated Statement of Comprehensive Income 92 Consolidated Statement of Financial Position 93 Consolidated Statement of Changes in Equity 95 Consolidated Statement of Cash Flows 97 Notes to the Financial Statements 100 Five Year Financial Summary 189 Corporate Information 191 Notice of Annual General Meeting and Relating Information 192 Definitions 208 Corporate Profile Dongfeng Peugeot Citroën Sales Co., Ltd. Dongfeng Peugeot Citroën Auto Finance Co., Ltd. Dongfeng (Wuhan) Engineering Consulting Co., Ltd. Dongfeng Motor Investment (Shanghai) Co., Ltd. Dongfeng Off-road Vehicle Co., Ltd. Dongfeng Motor Co., Ltd. Dongfeng Nissan Auto Finance Co., Ltd. China Dongfeng Motor Industry Import & Export Co., Ltd. Limited Dongfeng Motor Finance Co.,Ltd. Dongfeng Getrag Automobile Transmission Co., Ltd. Dongfeng Renault Automobile Co., Ltd. Dongfeng Liu Zhou Motor Co., Ltd. Dongvo (Hangzhou) Truck Co., Ltd. Honda Motor (China ) Investment Co.,Ltd. Motor Group Company Dongfeng Honda Auto Parts Co., Ltd. ), the predecessor of Dongfeng Motor Corporation and the parent of the the parent of Corporation and of Dongfeng Motor the predecessor ), Dongfeng Honda Engine Co., Ltd. Dongfeng Honda Automobile Co., Ltd. Dongfeng Dongfeng Peugeot Citroën Automobile Co., Ltd. Dongfeng Commercial Vehicle Co., Ltd. Dongfeng Electrical Vehicle Co., Ltd. 第二汽車製造廠 Dongfeng Special Purpose Commercial Vehicle Co., Ltd.