Autohome Inc
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Communication Services : Interactive Media & Services |
Based in China
Company profile

Autohome Inc. is an online destination for automobile consumers in China. The Company is engaged in the provision of online advertising and dealer subscription services in the People's Republic of China (PRC). The Company, through its Websites, autohome.com.cn and che168.com, and mobile applications, delivers content to automobile buyers and owners. These services are offered to automakers and dealers, and advertising agencies that represent automakers and dealers in the automobile industry. The Company's autohome.com.cn targets automobile consumers with a focus on new automobiles. The Company's professionally produced content is created by editorial team and includes automobile-related articles and reviews, pricing trends in various local markets, and photos and video clips. Its database also includes new and used automobile listings and promotional information. Its dealer subscription services allow dealers to market their inventory and services through its Websites.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

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Closing Price
$102.88
Day's Change
5.13 (5.25%)
Bid
--
Ask
--
B/A Size
--
Day's High
103.02
Day's Low
97.51
Volume
(Average)
Volume:
552,087

10-day average volume:
610,375
552,087

Electric vehicle sales expected to grow 50% in 2021

1:07 pm ET December 11, 2020 (MarketWatch)
Print

By Claudia Assis

Share issuance is the flavor of the week

Global electric-vehicle sales will grow 50% or more next year, while sales of internal combustion engine vehicles are expected to grow 2% to 5%.

That's the view of analysts at Morgan Stanley, who in a note to clients on Friday also predicted that global EV penetration would top 4%, rising to 31% by 2030.

The year 2021 "is shaping up to be a critical year for EV adoption and (internal combustion engine) de-adoption that will dictate the pace of multiple expansion, contraction, consolidation and proliferation" among the stocks, Morgan Stanley analyst Adam Jonas said in the note.

Investor interest in electric-vehicle and adjacent stocks continued unabated this week, as exemplified by Tesla Inc. (TSLA) closing the books on $5 billion worth of shares in just one day. (https://www.marketwatch.com/story/tesla-completes-5-billion-stock-sale-in-one-day-2020-12-10)

In other news this week:

See also:Federal Reserve steps up climate-change response and gets immediate backlash from some House Republicans (https://www.marketwatch.com/story/federal-reserve-steps-up-climate-change-response-and-gets-immediate-backlash-from-some-house-republicans-11607638165)

Nio ADRs have gained nearly 950% this year, compared with gains of around 13% for the S&P 500 index.

Despite the momentary dips amid stock offerings, EV stocks are enjoying a 2020 stock surge that is more widespread than Nio's jaw-dropping 2020 gains. Tesla is up 625% this year, while XPeng is up more than 111% and Li Auto around 100%.

The deal would value Last Mile at about $1.4 billion, and once it closes, likely in the first quarter, the combined company will be renamed Electric Last Mile Solutions Inc. and trade on Nasdaq under the ticker "ELMS." The company plans to launch electric delivery vans later in 2021.

Related: BlackRock vows to support more shareholder votes on climate change after proxy record disappoints (https://www.marketwatch.com/story/blackrock-vows-to-support-more-shareholder-votes-on-climate-change-11607626325)

"While we do not expect a similar performance as 2020, we expect our coverage to outperform the market," they wrote in note this week.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

December 11, 2020 13:07 ET (18:07 GMT)

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