On January 6th, Gelonghui reported that according to the bank's calculations, the average discount in the auto industry in December expanded by 0.6 percentage points month-on-month, mainly driven by Chinese automakers such as BYD, LEAPMOTOR, and Chongqing Changan Automobile. Considering the improvement of scale effects and the recovery of discounts, the bank expects that the profitability of major leading Chinese automakers will remain resilient in the last quarter. On the other hand, the bank stated that most foreign brands set historical highs for discounts in 2024, yet the combined market share of foreign brands has declined by about 10 percentage points year-on-year. With over 140 new Electric Vehicles expected to be launched in 2025, surpassing the 127 models in 2024, it is anticipated that price wars will continue to spread into 2025.
- Headlines
- Major ratings │ CMB International: It is expected that leading automotive companies will maintain resilient profits in the last quarter, and the price war may spread until 2025.
大行评级丨招银国际：预计龙头车企上季盈利将保持韧性 价格战或蔓延至2025年
Major ratings │ CMB International: It is expected that leading automotive companies will maintain resilient profits in the last quarter, and the price war may spread until 2025.
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