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2026-11-10 15:14:21 Citi issued a research report stating that, according to dealer data, overall EV orders in China's automobile manufacturing industry rose 4% MoM in the first week of November (2-8 Nov), improving from the 38% MoM decline recorded in the same period last year. The bank believes the industry's order trend is slightly positive. Citi noted that retail sales of new energy vehicle insurance increased 2.4% MoM in November last year. It expects new energy vehicle retail sales growth in November this year to be stronger than the same period last year, partly due to a lower base in September and October. Applying the China Passenger Car Association (CPCA) estimate of a 2.3% MoM increase in EV retail sales in October, together with the 4% MoM increase in November, this would translate into a 5.9% YoY decline, compared with the preliminary 7.3% YoY decline in October, which was also slightly positive. Citi said sales of LI AUTO-W (02015.HK), XPENG-W (09868.HK), LEAPMOTOR (09863.HK) and Zeekr rose 107%, 62%, 12% and 7% MoM during the period, outperforming the industry. BYD COMPANY (01211.HK), GEELY AUTO (00175.HK) Galaxy, Tesla, Inc. (TSLA.US), NIO-SW (09866.HK), XIAOMI-W (01810.HK) and Huawei underperformed, recording flat MoM growth, declines of 2%, 8%, 10%, 34% and 34%, respectively. Lithium prices fell 22% MoM, and Citi believes this will help ease part of the cost inflation pressure. (gc/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |