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Eagers Automotive Limited ( (AU:APE) ) has issued an update.
Eagers Automotive Limited has announced a new long-term agreement to extend its retail representation for the BYD brand in Australia. This agreement includes a 5-year dealer contract with an option for an additional 5 years, aligning with BYD Australia Pty Ltd as the new national importer and distributor. The deal will maintain Eagers’ extensive network of sales and service centers, supporting BYD’s growth ambitions in the Australian market. The transition of distribution rights to BYD Australia is expected to enhance the brand’s capabilities by leveraging global resources, marking a strategic move for both companies in the electric vehicle sector.
The most recent analyst rating on (AU:APE) stock is a Hold with a A$11.51 price target. To see the full list of analyst forecasts on Eagers Automotive Limited stock, see the AU:APE Stock Forecast page.
More about Eagers Automotive Limited
Eagers Automotive Limited operates in the automotive industry, focusing on retail representation and distribution of passenger vehicles. The company is significantly involved in the electric vehicle market through its ownership in EV Dealer Group Pty Limited, which holds a substantial stake in the distribution network for BYD vehicles in Australia.
Average Trading Volume: 878,967
Technical Sentiment Signal: Buy
Current Market Cap: A$4.61B
For detailed information about APE stock, go to TipRanks’ Stock Analysis page.