SAIC and Chery respectively contributed 25% and 24% to the overseas sales volume of domestic cars, ranking first and second.
According to the research report released by Bocom International, the sales volume of domestic cars in overseas markets increased by 45% year-on-year to 0.225 million units in June this year, once again hitting a historical high. SAIC and Chery respectively contributed 25% and 24% to the overseas sales volume of domestic cars, ranking first and second. Overall, the export data of Chinese domestic automakers has shown a trend of high year-on-year growth since the beginning of this year. At the same time, sales volumes in Europe, Asia, and South America also maintain a strong growth momentum.
According to the report, based on the cost performance advantages of Chinese domestic fuel cars, as well as the continuously increasing market share in markets such as Russia and South America, the institution believes that the export of Chinese domestic fuel cars will continue to maintain a growth momentum. As for new energy vehicles, Bocom International is bullish on Nio Inc-SW (09866) and Xpeng-W (09868). Despite the recent imposition of tariffs on Chinese electric cars by the European Union, the bank remains optimistic about BYD Company (01211) and believes that it still has a competitive advantage.
