第1020章 大众、丰田、奔驰、宝马、奥迪、保时捷、法拉利……
顶点小说(biquge432.com)更新快,无弹窗!
以说了。”林浩然看向崔子龙,示意他坐下。
崔子龙点了点头,在办公桌对面的椅子上坐下,将文件夹翻开,逐页递到林浩然面前,同时口述补充道:“老板,我按照品牌知名度、技术积累、经营困境、出售意愿、政治风险等五个方面进行了筛选,综合来看,目前最符合您要求的品牌有五个。”
“第一个,英国利兰集团旗下的罗孚汽车集团,罗孚成立于1904年,是英国最古老的汽车品牌之一,技术底蕴深厚,在二战前曾是英国皇室的御用座驾。
目前罗孚的经营状况非常糟糕,连年亏损,母公司英国利兰集团正在寻求剥离部分资产。
罗孚的优势在于价格相对较低,估值大约在五到八亿美元之间,收购阻力较小,劣势在于品牌形象老化,需要大量的资金和精力进行重塑。
另外,如果要购买罗孚集团,便要打包收购奥斯丁、MG、MINI等品牌。”
“第二个,意大利的阿尔法·罗密欧,这个品牌成立于1910年,以运动性能和设计美学著称,在全球拥有大量忠实粉丝。
目前阿尔法·罗密欧同样处于亏损状态,母公司菲亚特集团正在考虑重组,有可能出售部分品牌。
阿尔法·罗密欧的估值大约在四到六亿美元之间,优势在于品牌调性独特,设计和操控性能出色;劣势在于产能规模较小,技术体系相对封闭,整合难度较大。”
“第三个,英国利兰集团旗下的捷豹,捷豹成立于1922年,定位高端豪华市场,在全球范围内品牌认知度很高,特别是在北美和欧洲市场。
捷豹的估值较高,大约在十亿美元左右,优势在于品牌溢价能力强,技术实力雄厚;劣势在于价格高,且捷豹目前与路虎同属一家母公司,如果要收购捷豹,可能需要一并考虑路虎的归属问题。”
“第四个,保时捷,这个家喻户晓的跑车品牌在1980年便迎来首次年度亏损,管理层曾计划停产经典911车型,1981年新CEO上任后才逐步扭转颓势。
如今,保时捷正处于复苏期,受经营压力的影响,掌控该汽车品牌的保时捷-皮耶希家族有很大可能性引入大额外部资本。”
“第五个,美国的克莱斯勒,它的优点是体量规模最大化,该公司曾在1979年濒临破产,靠美国政府15亿美元担保贷款才续命,1983年刚靠K型车和初代大捷龙MPV扭亏为盈,全年净利润仅2亿美元,市值仍处于历史底部,股权高度分散。
目前克莱斯勒市值约18-25亿美元,25-30亿美元即可完成全资收购,若仅拿下第一大股东地位,10亿美元以内即可实现控股。
作为底特律三大巨头之一,拥有全美成熟的经销商网络、完整的乘用车+商用车产品线,体量规模远超捷豹、保时捷,符合国际汽车大品牌的定位。”
“通用、福特等市值较高,基本处于一两百亿美元的市值,想要收购代价太大,而且美国公会势力极强,外资收购政治阻力极大。
丰田、本田等日系品牌,如今都已进入盈利上升期,估值不低,且日本企业交叉持股结构复杂,外资几乎无法实现控股。
至于法拉利,1969年菲亚特已持股50%,创始人恩佐99法拉利目前仍在世,不会出售核心控制权,收购门槛极高。”
林浩然一边听着,一边翻看着资料。
“罗孚、阿尔法·罗密欧、捷豹、路虎、保时捷、克莱斯勒、MG、MINI……”他低声重复念一遍这几个汽车品牌的名字。
“大众、奔驰、宝马、奥迪这些品牌呢?”他抬头看向崔子龙,问道。
“这些品牌经营基本面健康,最重要的是本土股权与政策壁垒极强,外资基本不可能拿到控股权,且收购性价比远低于上面这些品牌,即便老板您真的想要从这些品牌中选择一个来收购,也是买得起、难掌控、增值空间有限!
如果老板您一定要布局德系品牌,我建议您可以不谋求控制权,而是通过收购一部分股份,然后以香江资本身份洽谈亚泰地区的总代理、合资生产权,获取渠道红利,远比收购股权的投入产出比高得多!”
显然,崔子龙昨晚到今天上午,他已经做足了充分的准备。
听完崔子龙的分析之后,林浩然不禁思索起来。
如今,国际汽车大品牌,基本集中在欧洲、美国以及日本这些地方,至于香江、南洋,根本没有拿得出手的汽车品牌。
香江是国际金融中心,是贸易枢纽,但制造业尤其是重工业,从来不是它的强项,因此从未发展出完整的自主整车工业,所以连一个汽车品牌都没有。
至于南洋,虽然各国有一定的工业基础,可如今整个南洋汽车产业基本处于日系、欧美系产业转移初期,定位是低成本组装市场,本土品牌几乎空白,即便有一些本土汽车品牌,也不过
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