General Motors Should Leave China, Analyst Says: 'It's A Material Drag'
General Motors Should Leave China, Analyst Says: 'It's A Material Drag'
General Motors Company (NYSE:GM) plans to restructure its joint venture with SAIC General Motors Corporation after losing $210 million in this year's first half, but an analyst thinks the automotive giant shouldn't even bother.
通用汽车公司（NYSE：GM）计划在今年的上半年亏损2100万美元后，对其与上汽通用汽车公司的合资企业进行重组，但一位分析师认为这家汽车巨头根本不应该费心。
"We note that GM announced plans to restructure its operations in China," Bank of America analyst John Murphy said in a note.
在一份报告中，美国银行分析师约翰·墨菲说：“我们注意到通用汽车宣布了重组其在中国的业务的计划。”
"We are concerned the pressure in China is more structural than transitory due to excess capacity and continue to believe GM should exit the market."
“我们担心，由于产能过剩，中国的压力更多地是结构性的而不是短期的，我们继续认为通用汽车应该退出这个市场。”
Also Read: GM Reports $210M Loss In China Joint Venture: 'The Headwinds Are Not Easy'
另请参阅：Gm报告在中国合资企业中的2100万美元亏损：“阻力不易”。
Murphy also said that China "remains a material drag on relatively good performance in other regions" of the world where GM is having better sales as it invests in developing electric vehicles (EVs) and autonomous vehicles (AVs).
墨菲还表示，中国“仍然是全球其他地区相对良好表现的重要拖累”，通用汽车正在这些地区取得更好的销售业绩，因为它正在投资于开发电动汽车（EV）和自动驾驶汽车（AV）。
Bank of America reiterated a Buy rating and maintained a price target of $85 on GM, which beat revenue estimates for the second quarter.
美国银行重申对Gm的买入评级，并维持85美元的价格目标，该公司的第二季度营收超出预期。
"Our Buy rating on GM is predicated on our view that the company remains a leader among the industry in its Core to Future transition," Murphy wrote.
墨菲写道：“我们对Gm的买入评级取决于我们认为该公司在其从核心到未来的转型中仍然是行业的领导者。”
"More specifically, GM's ongoing execution and strength in its Core business continues to enable the company to step up its investments across EVs and AVs, further Future-proofing the business."
“更具体地说，通用汽车在其核心业务的不断执行和实力方面继续使公司能够加大对EV和AV的投资，进一步为未来的业务打造基础。”
Goldman Sachs maintained a Buy rating that it has had on GM since July 2020, pointing out that the company is launching eight new or redesigned sports-utility vehicles in North America in this year's second half.
高盛自2020年7月以来一直维持对Gm的买入评级，并指出该公司正在今年的下半年在北美推出8款全新或重新设计的运动型多功能车。
"Moreover, GM continues to focus on cost and said it remains on track to achieve its net $2 bn cost reduction plan by the end of the year," Goldman Sachs analyst Mark Delaney wrote.
高盛分析师马克·德兰尼写道：“此外，Gm继续关注成本，并表示它仍在按计划实现其净成本削减2亿美元的计划。”
Murphy noted that GM's total company revenue of $48 billion for the second quarter was up about 12% from the first quarter and up about 7% from a year ago, beating Goldman Sachs' estimate of $44.5 billion and Wall Street consensus of $45.1 billion.
墨菲指出，通用汽车第二季度的总公司营收为480亿美元，比第一季度增长约12%，比一年前增长约7%，超过高盛445亿美元的估计和华尔街451亿美元的共识。
Price Action: GM declined 4.82% to $44.25 as of Thursday's mid-morning trading, while exchange-traded funds that track the company showed gains and losses.
股价走势：Gm周四上午交易下跌4.82美元至44.25美元，而跟踪该公司的交易所交易基金则出现了涨跌。
- First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) declined 0.63%
- Invesco S&P 500 Pure Value ETF (NYSE:RPV) inched up 0.01%.
- IShares U.S. Manufacturing ETF (NYSE:MADE) slipped 0.29%.
- IShares MSCI USA Value Factor ETF (VLUE) gained 0.28%.
- Brandywine Global – Dynamic US Large Cap Value ETF (NASDAQ:DVAL) went up 0.26%.
- First Trust纳斯达克运输ETF（纳斯达克：FTXR）下跌0.63%。
- 景顺标普500纯价值ETF（NYSE：RPV）微涨0.01%。
- iShares美国制造ETF（纽交所：MADE）下跌0.29%。
- iShares MSCI美国价值因素ETF（VLUE）上涨0.28%。
- Brandwyine Global - Dynamic US大盘价值ETF（纳斯达克：DVAL）上涨0.26%。
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