Course collapse, the share’s biggest cases in twelve years, following the company warned that profits in 2014 looks set to be halved. Currency losses from operations in Russia and exportmotgångar explanation given.
At the same time pressed Geely at home by increasing competition from foreign competitors such as General Motors and the German Volkswagen.
– The company’s profit warning strengthens further our conviction that this company has serious problems, says analyst Max Warburton, according to the Financial Times.
Geely’s sales in China so far this year has fallen by more than a fifth, while the globally declined 26 percent.
Geely is owned by Zhejiang Geely Holding, which also owns Sweden-based Volvo Cars.
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