General Motors Company (NYSE:GM) and its local Chinese partners announced on Monday that it have release a new plant to make cars for its local discount brand Baojun.
The new joint venture SAIC-GM-Wuling released the factory on Sunday in southwestern Guangxi province. GM and its partners declared they have invested 8B yuan or about $1.3 billion in the facility, which will be competent of turning out increased to 400,000 vehicles a year.
The novel factory is a symbol of GM is ratcheting up its war for a customer at the rapid-growing lower end of China’s car market, which is the world’s largest. Nissan and Honda have also released Chinese budget car brands with their local partners.
General Motors Company (NYSE:GM) stock hit highest price at $24.94, beginning with a price of $24.27 and reported increased 4.53% to the closed at $24.93 with day range of $24.13-$24.94. The total market capitalization remained $39.04 billion; total volume held in the session was 8.00 million shares surprisingly lower than its average volume of 9.00 million shares.
To check the Stocks ups and downs, GM last week stock price volatility remained 2.31% and month was at 2.91%. GM generated revenue of 150.94 billion in the following twelve months income of $4.44 billion. The Company showed a positive 2.93% in the net profit margin and in addition to in its operating margin which remained 3.26%.
The GM past twelve months price to sales ratio was 0.26 and price to cash ratio remained 1.16. As far as if notice on other major contributors of similar sectors have sale ratio and price to cash ratio remained Tesla Motors Inc (NASDAQ:TSLA)’s P/S 25.60% P/C 43.71%, Kandi Technolgies Corp. (NASDAQ:KNDI)’s P/S 2.59% P/C 30.62%, Sorl Auto Parts, Inc. (NASDAQ:SORL)’s P/S 0.25% P/C 1.76%, Honda Motor Co Ltd (ADR) (NYSE:HMC)’s P/S 0.52% P/C 4.83%.