大行評級丨花旗:預測比亞迪今年新能源汽車銷量增至575萬輛 予“買入”評級
花旗發表研究報吿指,日前在2025年上海車展上與比亞迪管理層進行會談,管理層目前對2025年總銷量及出口指引分別為550萬輛及80萬輛,並預計美國關税對南美洲等高增長市場的訂單影響有限,預期插電式混動汽車(PHEV)將成為今年的增長驅動力,全年出口量佔比或提升至50%,對比去年為30%至40%。管理層亦預期今年每輛車出口淨利潤將按年提升,對比2024年為約2萬至3萬元。考慮到國內各種形式的置換補貼政策可能會影響其定價,花旗相信比亞迪將靈活調整定價策略,給予“買入”評級,目標價688港元,預測比亞迪今明兩年新能源汽車銷量將分別提升至575萬輛及703萬輛。
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