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

UPDATE: Ford and Indian auto maker Mahindra call off joint venture

7:56 pm ET December 31, 2020 (MarketWatch)
Print

By Mike Murphy

Companies cite pandemic-related economic challenges

Ford Motor Co. and India's Mahindra and Mahindra Ltd. called off their auto-making joint venture Thursday, a little over than a year after announcing it, citing pandemic-related economic challenges.

In a joint statement, the companies said the dissolution of the venture "was driven by fundamental changes in global economic and business conditions -- caused, in part, by the global pandemic -- over the past 15 months."

"Those changes influenced separate decisions by Ford and Mahindra to reassess their respective capital allocation priorities," the companies said.

The two auto makers announced the joint venture in October 2019 (https://www.marketwatch.com/articles/ford-retrenching-in-india-sets-up-joint-venture-with-mahindra-51569957635). Ford (F) would have transferred most of its auto operations in India to Mahindra , a cost-saving move intended to keep a foot in a growing market where Ford has largely failed to make inroads. The joint venture would have focused on producing vehicles for emerging markets.

Ford said Thursday its operations in India "will continue as is," and added that it is "actively evaluating its businesses around the world, including India" to boost margins and generate consistently strong cash flow.

Ford shares ended 2020 down about 5.5%, despite a 30% surge in the past three months, compared to the S&P 500's 16% gain for the year.

-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

December 31, 2020 19:56 ET (00:56 GMT)

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