吉利并购沃尔沃分析课件.ppt

1、Microsoft WindowsC CMicrosoft WindowsC CMicrosoft Windows结束语结束语关于作者关于作者一键关机一键关机我的电脑我的电脑我的文档我的文档IE 7工作业绩工作业绩改进计划改进计划职业发展职业发展收获感悟收获感悟BackgroundMotivationsAdvantagesChallengesConclusionChallengesAdvantagesBackgroundMotivationsConclusionBackground2.Fashionableappearance,good performance and economic sel

2、ling price1.Founded in July，19975.By the end of 2005,Geely had exported a large quantity of her automobiles to Africa,the Middle East,East Europe and Central and South America4.Rank one of top ten in Chinese car industry3.May 10th,2005，successfully listed on the Stock Exchange Limited of Hong KongCh

3、allengesAdvantagesBackgroundMotivationsConclusion3.Goals:One of the worlds most successful luxury car brand.1.Founded in 1927,headquartered in Gothenburg Sweden2.Core values：safety,quality and environmental protection4.multiplex models5.April 1st,1999,Ford successfully purchased Volvo car brand.Chal

4、lengesAdvantagesBackgroundMotivationsConclusionFeb.6TH,2009,Ford talks Volvo sale to GeelyDec 2008,FORD thinks about Geelys acquisition plan and announce to sale Volvo brand.Jan,2008,LI SHU FU expressed the desire of purchasing VolvoOct.10th2009,Ford chose Geely to be the priority competitor.Sep.9th

5、.2009,Geely firstly admits to compete for the purchase of Volvo.Jul,16th,2009,Geely bids 2 billion dollars.Jun.18th,2009,Ford HQ:The acquisition between Geely and Volvo is a falsehood.Jun.17th,2009,Geely:It is impossible to purchase Volvo.MotivationsWhy to sell?Why to choose Geely?FordWhy to buy?Gee

6、lyChallengesAdvantagesBackgroundMotivationsConclusion change the pattern of the world automobile industry hit Volvo hard “One Ford”strategy“We plan to sell.Its not about Volvo,but because we want to focus on Ford.The situation for Ford around the world is still tough.Ford is still losing money.”“The

7、 company needs to focus its financial resources and thats why we started looking at selling Volvo and we want to continue with the process for the same reason.”BoothFords CFOThe BRIC(Brazil,Russia,India,China)markets China is the largest,most mature,most stable oneThe financial crisis The financial

8、crisis Access to advanced core technology Access to advanced core technology Absorption of high-end talent Absorption of high-end talent Learn the Marketing System Model Learn the Marketing System Model Lower operating costs Lower operating costs ChallengesAdvantagesBackgroundMotivationsConclusion a

9、 shopping spree of overseas acquisitions TengZhongHummerGeelyVolvoThe biggest overseas acquisitiongolden opportunity The outbreak of the global financial crisis has brought“golden”opportunity to the Chinese enterprises.Geely just seizes on such an opportunity precisely!the acquisition cost is relati

10、vely low,and the way of acquisition funds is diverse securitythree-point seat belts zero casualty Dispel Dispel quality quality concernsconcerns For a long time,Geely do not make a good character on the price and apparent of its car to the public,to change that image,there must be a good industrial

11、design talent and brand planning personnel.It is beneficial that have a close-up study of the marketing strategy of foreign brand.It is a prerequisite to the world to Geely and Chinas own brand Li Shufu can make Geely into the worlds cheapest car,then we can believe that he also has a way to reduce

12、the operating costs of Volvo.ChallengesAdvantagesBackgroundMotivationsConclusionAdvantagesChallengesAdvantagesBackgroundMotivationsConclusionGeely and other Chinese firms want Volvo for its strong brand name and technology.Its dealer network also represents a chance to penetrate(打入打入)the U.S.and Eur

13、opean markets with non-Volvo product.Volvos brand as a safe,reliable car could help dispel quality concerns about Geely cars.A Russian car magazine recently crash tested the Geely CK at 40 mph and found that the driver and passenger had a 10%survival rate！China is the only major auto market still gr

14、owing despite the global economic slowdown,and in the past few months the number of sales in the country has outstripped sales in the U.S.Geelys experience in Chinas auto market,which is poised to surpass the U.S.as the worlds biggest auto market this year with sales possibly reaching 12 million veh

15、icles.Ford is a motivated seller because it needs to raise cash and lower its debt,especially as competitors General Motors and Chrysler emerge from bankruptcy protection with restructured balance sheets.It also is a sweet price,totaling about one third of the$6.5 billion that Ford paid ten years ag

16、o.technology,Brands talent network other resources of foreign companies a higher level increase the position.Volvo has been regarded as the most secure,car and possession of a considerable market share.If Geely can win Volvos strong brand,not only get rid of the low-end car label,but also can make u

17、se of the production base and sales network by the Volvo around the world to overseas expansion.ChallengesAdvantagesBackgroundMotivationsConclusionSnake eat elephant！Volvo is worth half the$6.4 billion when Ford paid 10 years ago.The listed Geely Automobile Holdings unit only has a market capitaliza

18、tion of about$500 million.Lack of experience:Geely is a“young man”to Ford.While Ford is failed,whats the fate of Geely?ChallengesAdvantagesBackgroundMotivationsConclusion ChallengesChallengesAdvantagesBackgroundMotivationsConclusion ChallengesChallengesAdvantagesBackgroundMotivationsConclusion Chall

19、engesChallengesAdvantagesBackgroundMotivationsConclusion ChallengesChallengesAdvantagesBackgroundMotivationsConclusion ChallengesChallengesAdvantagesBackgroundMotivationsConclusion ChallengesChallengesAdvantagesBackgroundMotivationsConclusion ChallengesChallengesAdvantagesBackgroundMotivationsConclu

20、sion ChallengesGeely is far from mature enough Although Geely has announced its “multiplex brands”strategy.The strategy is still not mature in China.At least 7 provinces dont really start the program.The foundation in its own country is not as firm as we imaged.Patents Fords Volvo vehicle will retai

21、n its technology patents,Chinas Geely Automobile buyers will only have the right to use these technologies.Corporate structureCorporate structure Western firms have a deep-rooted culture of trade unions,when it comes to mergers and acquisitions,corporate trade unions will try to intervene in the neg

22、otiations in order to seek the best interests of employees and layoffs.employee remuneration differences has allowed a number of Western firms trying to mergers and acquisitions of Chinese companies playing with toys.Accounting system&LawAccounting system&Law The accounting systems between China and

23、 western countries are obviously different.So it is difficult to integrate financial statement.The monitoring cost maybe very high.The different law systems will also influence M&A and increase the handicap of M&A.Nationalism Domestic consumers usually have naturally resistance to foreign goods.Espe

24、cially when it comes to political reasons.ChallengesAdvantagesBackgroundMotivationsConclusionChallengesAdvantagesBackgroundMotivationsConclusion Conclusion Even Ford confirmed that Chinas Geely is the preferred buyer for Volvo marque,there are still concernsconcerns that the long-rumored deal wont g

25、et off the ground.The two companies must still resolve protection for intellectual-property rights(IPR).Lets look at a real example:Geely GEGeely GE Rolls RoyceRolls Royce Creation imatition orBig problemIPR On the November 17th the spokesman of geely said that volvo would remain real valuable techn

26、ologies and talents outside China,geely would only have the right to use the related technology.Proponent:A.such deals can help the Chinese automakers get footholds in European and U.S.markets B.access to advanced technologies C.a chance to piggyback on their reputations for sturdiness and safety,es

27、pecially like the famous brands like VolvoOpponent:Meanwhile analysts say that even if the Volvo deal is finally sealed,success isnt guaranteed.China watchers warn that making big deals work may be even tougher for its automakers,A.facing the challenge of bridging the large cultural and legal differ

28、ences between China and elsewhere.B.whether Geely has ability to manage Volvo is questioned.C.hard to say the deal is a bargin The evidence:The evidence:Li Shufu,chairman of Geely,has said the acquisition is a strategic move for Geely to strengthen its position in China and also to help the continue

29、d development of Volvo.Component supplyEngineering R&D DesignFordVolvoGeelyFord will have to ensure that its technologies and IPR would not be compromised in the deal with a potential rival in China.For all that,shares in Geely Automobile Holdings,which is listed in Hong Kong,rose 4.5%at one point,r

30、eaching a high record despite the market is declining.Geelys stock has quadrupled this year.To some extent,geely has gained a lot.There is one picture from (凤凰网).Point Worth Thinking About Whether geely could succeed to marry Volvo or not,he still should be taken seriously.Li Shufu hired Zhao Fuquan

31、 who was the former Chrysler senior engineer in Detroit as its product chief.Zhao convinced Li to invest at least 8%of Geelys revenue in product development.By comparison,Toyota and its subsidiaries spend 5%of revenue on R&D.All these indicate Geelys action is not a not a joke.joke.Perhaps in the near future we can see the Volvo wear the Chinese bottom drawer.我的电脑我的电脑我的文档我的文档IE 7BackgroundAdvantagesChallengesMotivationsConclusion关于作者关于作者一一键键关机关机ChallengesAdvantagesBackgroundMotivationsConclusion我的电脑我的电脑我的文档我的文档IE 7工作业绩工作业绩改进计划改进计划职业发展职业发展收获感悟收获感悟结束语结束语关于作者关于作者一键关机一键关机