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<Research>CLSA Estimates CN Auto Sales to Drop 4% This Yr, Still Upbeat About BYD's Solid Overseas Biz
Recommend 14 Positive 27 Negative 5 |
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CLSA said in its research report that last year's growth in China's electric vehicle market was primarily driven by government subsidies and the intensive launch of new models, but it is likely that the impact of these factors may weaken this year. According to CLSA's analysis, purchasing demand for around 3-4 million vehicles was brought forward over the past two years. As a result, it is anticipated that China's domestic auto sales will decline by 4% this year, marking the first contraction since 2019. Regarding stocks, CLSA continues to favor BYD COMPANY (01211.HK), citing that its product and technology cycles are back on track, and it has established a solid business foundation in overseas markets. The carmaker has been rated as High-Conviction Outperform, with a target price of HKD130. AAStocks Financial News |
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