99% of Japanese Shuangqiang enter the super boom period

GAC Group (601238) December sales review: previous sales have fallen slightly 3 times.

99% of Japanese Shuangqiang enter the super boom period

Incident Guangzhou Automobile Group released the December production and sales report, and the company’s output in December was 21.

190,000 vehicles, an increase of 5 each year.

1%, an increase of 7 from the previous quarter.

1%, and gradually increase production in 2019 by 202.

380,000 units, gradually decreasing 7.
.

76%.

December sales of 18.

60,000 vehicles, a decrease of 0 a year.

3%, a decrease of 4 from the previous quarter.

8%, and gradually increase 南京夜网 sales in 202 in 2019.

620,000 vehicles, gradually reduced by 3.

99%.

  Brief comment on the company’s overall sales of 206.

220,000 units, sales may drop by 3.

99%.

The company released December production and sales data, and December production was 21.

190,000 vehicles, an increase of 5 each year.

10%, an increase of 7 from the previous month.

12%, affected by the advance stocking during the Spring Festival peak season, the company ‘s monthly output significantly increased; in 2019, the company gradually increased its output by 202.

380,000 units, gradually decreasing 7.
.

76%.

December sales of 18.

600,000 units, a decrease of 0 a year.

3%, a decrease of 4 from the previous quarter.

8%; 206 sales are expected to increase.

220,000 vehicles, gradually reduced by 3.

99%, a gradual decrease of 0 from last month.

35 points.

  Independent sales continued to improve, and new GS4 sales steadily increased.

GAC passenger car output was 5 in December.

120,000 vehicles, an increase of 21 every year.

2%, an increase of 20% from the previous month; the company’s sales in December were 3.

940,000 vehicles, a decrease of 21 a year.

7%, an increase of 2 from the previous month.
2%. Since the launch of the new GS4, GAC’s independent sales have improved significantly; the company’s cumulative sales from January to December were 38.

460,000 vehicles, a gradual reduction of 28.
1%, the overall sales decline continued to narrow.

  Guangben expects progressive sales of 77.

09 million units, Haoying continued to increase sales can be expected.

GAC Honda sold 6 in December.

310,000 vehicles, a decrease of 8 per year.

4%, a decrease of 8 from the previous month.

6%, the monthly half-year drop was narrower than last month.

4pct; the company’s cumulative sales from January to December 77.

09 million vehicles, a gradual increase of 4.

0%, after the country ‘s fifth country switched to the sixth country ‘s sufficient production capacity, it has still achieved contrarian growth, showing its high degree of prosperity.

  Guangfeng expects sales of 68.

200,000 vehicles, continued to sing and advance.

GAC Toyota sold 5 in December.

780,000 vehicles, an increase of 37 per year due to a decrease in the base in the same period last year.

5%, a month-on-month decrease of 15%, the monthly sales volume exceeded the growth rate significantly higher than the industry; the company gradually increased sales volume 68.

200,000 units, an increase of 17 year by year.

60%, far exceeding the industry’s gradual growth rate in the same period, exceeding the initial target of 600,000 vehicles.

At present, TNGA models account for 70% of sales, equipped with sedan Ralink, Camry, and SUV C-HR. Highlander excels in various segments, showing Toyota’s precise product layout capabilities.

  Investment suggestion: The company’s annual sales volume in 2019 is 206.

220,000 vehicles, three years before 3.

99%.

Among them, Japanese double strong growth against the trend, independent sales continued to improve, it is expected that the company’s overall sales will continue to increase in 2020.

We expect the company’s EPS for 2019-2021 to be 0.

8, 0.

9, 1.

04 yuan, corresponding to 15, 13, 11 times the corresponding PE, maintaining the “buy” level.

Categories:vVerPOYp
Published on :Posted on