汇丰银行：欧洲汽车行业2009年4季度投资策略
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来源：人大经济论坛
Sector scorecard 3
Macro indicators: Recovery
underway, but many
uncertainties remain 14
Unit sales trends by region 22
Unit sales by OEM 37
Segment mix trends 54
Model launches in Europe 62
Exogenous factors: Might be
a burden again in 2010 70
Earnings and valuation 79
Company profiles 89
BMW 90
Daimler 95
Peugeot 104
Porsche 109
Renault 115
Volkswagen ords 121
Disclosure appendix 129
Disclaimer 132
Contents
Macro indicators: Recovery
underway, but many
uncertainties remain 14
Unit sales trends by region 22
Unit sales by OEM 37
Segment mix trends 54
Model launches in Europe 62
Exogenous factors: Might be
a burden again in 2010 70
Earnings and valuation 79
Company profiles 89
BMW 90
Daimler 95
Peugeot 104
Porsche 109
Renault 115
Volkswagen ords 121
Disclosure appendix 129
Disclaimer 132
Contents
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