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【券商聚焦】招银国际预计车企价格战将继续蔓延至2025年

[Brokerage Focus] CMB International anticipates that the price war among automotive companies will continue to spread until 2025.

Jinwu Financial News ·  Jan 6 11:25

Jinwu Finance | According to the calculations of the bank, the average discount across the industry in December expanded by 0.6 percentage points month-on-month, mainly driven by Chinese car manufacturers like BYD, Leapmotor, and Changan. Considering the improvement in economies of scale and the recovery of discounts, the bank expects that the profitability of major leading Chinese car manufacturers will remain resilient in Q4 2024. On the other hand, most foreign brands have set historical highs in discounts for 2024, but the total market share of foreign brands has declined by about 10 percentage points year-on-year. Considering that over 140 new Electric Vehicles will be launched in 2025, even surpassing the 127 models in 2024, the bank anticipates that the price war will continue to spread into 2025.

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