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《大行报告》瑞银:全球汽车业销量无法翻倍 难再推高行业估值
阿思达克 04-21 12:10
瑞银投资研究全球研究部中国汽车行业分析师巩旻表示,中国汽车行业目前有三大趋势,包括传统车厂电动车大反击、品牌掘起、科技巨头参与。

他指,中国市场从产业活跃度、新鲜度、投放度等,均是最动态、活跃,是快速变化市场,相反欧美电动车,Tesla(TSLA.US)市占率约80%,而欧洲则由传统车企,大众、雷诺等主导,好处是可以增加资本投放,加快行业发展,但同时未来的投资回报率边际递减,以及同业竞争亦会加剧。

他又指,科技巨头的加入,有包括直接参与或技术合作,但预期产品需时研发,并需要至少3年才加入市场,短期内竞争不会太明显。不过,新势力的估值快速,但实际全球汽车业销量、利润率也没法翻倍,故再推高行业估值的可能性较低,除非汽车业有不一样商业变现机会,如卖软件、或其他持续增长项目。

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