China's Auto Demand Expected to Peak in December -- Market Talk

Dow Jones12-12

0341 GMT - China's auto demand is likely to peak in December, with supportive policies such as the 2024 scrappage policy and the trade-in subsidy program due to expire at the end of the year, Nomura analysts say in a research note. Nomura turns "a bit more cautious" on the sector's outlook for 1Q 2025 but expects overall local demand to see further growth in for the full year, they add. The analysts expect new stimulus measures to be introduced later next year. BYD remains Nomura's top pick in the sector. The bank expects BYD to roll out updates to its battery electric vehicle models and its technology. It also anticipates the company to improve its overseas market presence with the upcoming expansion of its Brazil and Hungary factories, they add. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

December 11, 2024 22:41 ET (03:41 GMT)

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The bank expects BYD to roll out updates to its battery electric vehicle models and its technology. It also anticipates the company to improve its overseas market presence with the upcoming expansion of its Brazil and Hungary factories, they add. 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Nomura turns \"a bit more cautious\" on the sector's outlook for 1Q 2025 but expects overall local demand to see further growth in for the full year, they add. The analysts expect new stimulus measures to be introduced later next year. BYD remains Nomura's top pick in the sector. The bank expects BYD to roll out updates to its battery electric vehicle models and its technology. It also anticipates the company to improve its overseas market presence with the upcoming expansion of its Brazil and Hungary factories, they add. 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Nomura turns \"a bit more cautious\" on the sector's outlook for 1Q 2025 but expects overall local demand to see further growth in for the full year, they add. The analysts expect new stimulus measures to be introduced later next year. BYD remains Nomura's top pick in the sector. The bank expects BYD to roll out updates to its battery electric vehicle models and its technology. It also anticipates the company to improve its overseas market presence with the upcoming expansion of its Brazil and Hungary factories, they add. 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