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中金:看好一線自主銷量的結構性增長和業績彈性 推薦廣汽集團(2238.HK)等
格隆匯 01-10 17:21

中金公司發佈報告稱,內地12月份汽車銷量低於預期,或有損市場情緒,估計在春節提前及高基數下,1月份同比降幅將更大,跌幅或達15%-20%。該行看好一線自主銷量的結構性增長和業績彈性,推薦廣汽集團(2238.HK)和長安汽車,並建議關注吉利汽車(0175.HK)、長城汽車(2333.HK)、上汽集團。

該行稱,內地12月份的汽車銷售同比降幅繼續收窄,但未能如市場預期的那樣轉正,零售環比走勢疲弱,處於過去十年來的較低位置,春節前的衝量效果不明顯。該行預測,豪華和一線自主品牌強勢增長,其中,豪華品牌銷量同比增16%,保持強勁,但尾部車企持續出清,東南、眾泰銷量大幅下滑,單月同比降幅分別為58%和85%。

該行還稱,受惠於較低基數,預測今年2-5月份內地汽車銷售同比表現有望改善,預計今年乘用車銷量回歸輕微增長,總量表現相對平淡。內地乘聯會數據顯示,12月汽車銷量下降3.6%,全年銷量連續第二年減少。

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