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Old 10-18-2006, 01:12 PM   #31
hazik
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Default Geely FC1 launched this month Geely H1 profits triple

FC-1 will be on sale end of this month. costs is 100,000 rmb







Monday September 18, 3:07 PM
UPDATE 1-Chinese car maker Geely jumps after H1 net triples
(Adds analysts comments, updates stock performance)
By Alison Leung

HONG KONG, Sept 18 (Reuters) - Shares in Chinese car maker Geely Automobile Holdings Ltd. surged on Monday after topping rivals with a tripling in first-half earnings and unveiling plans to double capacity in two years, but a senior executive warned that margins could dwindle in the second half.

Geely, which makes some of China's cheapest cars, will launch a 100,000 yuan ($13,600), 1.8-litre "FC1" sedan by the end of the month, its latest salvo to grab market share in the world's third-largest vehicle arena.

The FC1 will be an advanced version of the "Free Cruiser", developed with South Korea's Daewoo International last year.

"We think our new model is comparable to South Korean and Japanese cars, but much will depend on the market's reception," executive director Lawrence Ang told Reuters in a telephone interview on Monday.

Shares of Geely ended Monday morning up 3.45 percent at HK$0.90, boosted by a 196 percent rise in interim net profit to HK$121 million (US$15.55 million).

But the smallest Hong Kong-listed car maker was cautious on the market's outlook in the second half as a price war intensified.

"We're on high alert. Our net profit margin in the first half was 8 percent and that could easily be eroded," Ang said.

Geely earlier this month cut prices on its "Free Cruiser" series by 1,000 yuan to 5,000 yuan, or an average of just below 5 percent, keeping pace with rivals' moves.

This followed a price cut in April in Geely's other models of between 4 percent and 10 percent.

However, analysts say Geely shares should benefit from falling oil and raw material prices, which could boost the firm's sales and reduce costs.

The Zhejiang-based auto maker said on Friday it planned to more than double its annual capacity to 650,000 cars in two years from 300,000 units by the end of 2006.

Geely's parent, controlled by founder and chairman Li Shufu, is investing an estimated 3 billion yuan to build four new plants with a total initial capacity of 300,000 units.

"Geely will buy stakes in these plants from the parent when construction is completed and ready for production," Ang said.

The company's two 46.8 percent-owned car maker units sold a total of 91,953 vehicles in the first half, up 60 percent from the same period last year -- satisfying 51 percent of an annual sales target of 180,000 units.

In the first eight months, Geely sold 48 percent more vehicles from a year earlier, or 112,633 units.

Geely also maintained an export target of 10,000 cars for 2006 after selling 4,000 abroad in the first half.

"We are preparing for that and significant exports should start in 2010," Ang added.

The stock has risen more than 180 percent this year,
outpacing a near 30 percent gain on the index for Chinese
companies listed in Hong Kong .
Some Hong Kong-listed Mkt cap p/e H1 net stock change
Chinese car maker (US$mln) 2006 pct yr-to-date
Dongfeng 3,322 11.1 +69 +56 pct
Denway 1,580 9.6 +30+11 pct
Brilliance 561 23.8 n/a +4 pct
Geely 464 21.8 +196+177 pct
Index for Chinese firms listed in Hong Kong +31 pct
Source: Reuters Estimates'
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Old 10-18-2006, 05:14 PM   #32
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emm , no , this is must be Geelys best offering yet , but still , it didn't convince me much , its just looks like a modified CK or shall we say an updated/upgraded version , and of course stll a Corrolla wanna be

What is the length and width of this one , simliar to the CK ?

For some reason the Headlights just dont match the car .. dunno why !
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Old 10-18-2006, 06:08 PM   #33
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I think it has a different chassis than CK.
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Old 10-19-2006, 09:11 AM   #34
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If Geely can get the reliability, safety, and emissions right on this car, they can totally sell this car in the US against the Kia Rio, Hyundai Accent, and Chevy Aveo.

Offer the best warranty and dealer service of the bunch and sell for 10% less, and it will do very well.
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Old 10-20-2006, 08:40 AM   #35
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Old 10-20-2006, 05:32 PM   #36
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Quote:
Originally Posted by BringIt
If Geely can get the reliability, safety, and emissions right on this car, they can totally sell this car in the US against the Kia Rio, Hyundai Accent, and Chevy Aveo.

Offer the best warranty and dealer service of the bunch and sell for 10% less, and it will do very well.

If it's brought to the US it'll sell for alot more than $13,000. When you add shipping costs + dealer's cut + taxes it might go for as high as $18,000.
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Old 10-23-2006, 05:28 AM   #37
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What happened to the Chinese advantage of cheap labor??? Then how is ANY Chinese car going to compete in the US?

I don't think your guestimate on price is right. All cars sales for more in China for some reason.
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Old 10-26-2006, 12:24 AM   #38
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Thumbs up Geely Deal of the Day

Geely Automobiles Holdings Ltd. (0175.HK: Quote, Profile, Research) said it would pay 181 million yuan ($23 million) for a 46.8 percent stake in two Chinese joint ventures to make sedan related components and provide after-sales service. [nPEK218383]
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Old 01-12-2007, 10:35 PM   #39
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Default Chinese automaker Geely aims to double overseas sales

Beijing (ANTARA News/Asia Pulse) - Geely Automobile Co. is hoping to double its overseas sales this year. The Zhejiang-based private automaker is aiming to export 33,000 motor vehicles in 2007, up from 15,000 units last year, said Li Shufu, chairman of the company.

Li said the company was soliciting a new logo for its vehicles to bolster its image on the international market.

The firm, which began exports in 2003, has set up 128 shops overseas and exported 30,000 units to more than 40 countries. Its major markets are the Middle East, Southeast Asia and Eastern Europe.
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Old 01-14-2007, 05:05 AM   #40
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Quote:
Originally Posted by m14
Beijing (ANTARA News/Asia Pulse) -

Li said the company was soliciting a new logo for its vehicles to bolster its image on the international market.
Li will need more than a fancy logo to bolster image in the international market
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