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<Research>JPM Envisions CN Auto Industry to Rebound in 2Q26 w/ PV Demand Growing ~30%
Recommend 24 Positive 44 Negative 11 |
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JPMorgan has released a research report on China's auto industry, predicting that GEELY AUTO (00175.HK) and SINOTRUK (03808.HK) will beat Bloomberg market expectations this year despite challenges from rising industry demand and input costs. Meanwhile, NIO-SW (09866.HK) and XPENG-W (09868.HK) are expected to exhibit the greatest upside potential in 2Q-3Q26 or 2H26, driven by their own factors. As for BYD COMPANY (01211.HK) and LEAPMOTOR (09863.HK), they should gradually rebound after announcing their results in March, as the market has already absorbed more conservative and achievable earnings forecasts. In contrast, LI AUTO-W (02015.HK) may face greater stock price pressure due to downside risks in consensus earnings forecasts. JPMorgan believes that the Chinese auto industry will rebound in 2Q26, and passenger vehicle (PV) demand will grow by about 30% QoQ at both wholesale and retail levels, benefiting from a low base and, more importantly, improved customer traffic ahead of the Beijing Auto Show (April 24 to May 3). AAStocks Financial News |
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