China Auto Sales May Improve Sequentially in May, June -- Market Talk

Dow Jones05-15

0332 GMT - China's auto sector sales may see sequential improvement in May and June thanks to ongoing aggressive promotions, the government's trade-in program and new product launches, Deutsche Bank analyst Edison Yu writes in a note. Sales may continue to improve once consumers stop their waiting mode after the government's trade-in program is finalized, the analyst says. He notes that Li Auto's April sales were a bit disappointing on its guidance cut while rival Huawei-backed Seres's AITO showed resilience, supported by its new M9 model. The country's penetration rate for EVs reached 44% in April, a monthly record, the analyst adds.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

May 14, 2024 23:32 ET (03:32 GMT)

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