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.
通用汽車公司（NYSE：GM）計劃在今年的上半年虧損2100萬美元后，對其與上汽通用汽車公司的合資企業進行重組，但一位分析師認爲這家汽車巨頭根本不應該費心。
"We note that GM announced plans to restructure its operations in China," Bank of America analyst John Murphy said in a note.
在一份報告中，美國銀行分析師約翰·墨菲說：“我們注意到通用汽車宣佈了重組其在中國的業務的計劃。”
"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."
“我們擔心，由於產能過剩，中國的壓力更多地是結構性的而不是短期的，我們繼續認爲通用汽車應該退出這個市場。”
Also Read: GM Reports $210M Loss In China Joint Venture: 'The Headwinds Are Not Easy'
另請參閱：Gm報告在中國合資企業中的2100萬美元虧損：“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).
墨菲還表示，中國“仍然是全球其他地區相對良好表現的重要拖累”，通用汽車正在這些地區取得更好的銷售業績，因爲它正在投資於開發電動汽車（EV）和自動駕駛汽車（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.
美國銀行重申對Gm的買入評級，並維持85美元的價格目標，該公司的第二季度營收超出預期。
"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.
墨菲寫道：“我們對Gm的買入評級取決於我們認爲該公司在其從核心到未來的轉型中仍然是行業的領導者。”
"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."
“更具體地說，通用汽車在其核心業務的不斷執行和實力方面繼續使公司能夠加大對EV和AV的投資，進一步爲未來的業務打造基礎。”
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月以來一直維持對Gm的買入評級，並指出該公司正在今年的下半年在北美推出8款全新或重新設計的運動型多功能車。
"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.
高盛分析師馬克·德蘭尼寫道：“此外，Gm繼續關注成本，並表示它仍在按計劃實現其淨成本削減2億美元的計劃。”
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，通用汽車第二季度的總公司營收爲480億美元，比第一季度增長約12%，比一年前增長約7%，超過高盛445億美元的估計和華爾街451億美元的共識。
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.
股價走勢：Gm週四上午交易下跌4.82美元至44.25美元，而跟蹤該公司的交易所交易基金則出現了漲跌。
- 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納斯達克運輸ETF（納斯達克：FTXR）下跌0.63%。
- 景順標普500純價值ETF（NYSE：RPV）微漲0.01%。
- iShares美國製造ETF（紐交所：MADE）下跌0.29%。
- iShares MSCI美國價值因素ETF（VLUE）上漲0.28%。
- Brandwyine Global - Dynamic US大盤價值ETF（納斯達克：DVAL）上漲0.26%。
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