Lates News

J.P. Morgan released a research report stating that in April, overall Chinese automotive stocks rose by 8%. The increase was led by strong first-quarter profits from companies like Geely Auto (00175) and continued sales leadership from companies like NIO (09863) and OEM manufacturers. However, companies like Dongfeng Group (00489), SAIC Group (600104.SH), and Guangzhou Automobile Group (02238) have recently reported slower profit or sales growth, leading to poor performance. J.P. Morgan believes that price pressure may become the main headwind in the market. Their analysis of industry-wide price discounts as of the end of April shows an overall discount of 16.8%, up 53 basis points from March and reaching a historical high since tracking bi-weekly data in 2017.