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BofA Estimates CN Total Auto Export Vol. to Hike 19% This Yr, NEV Export to Surge 15%
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Four key themes will emerge in the automotive industry in mainland China this year, including a stronger alliance between XIAOMI-W (01810.HK) and Huawei; persistently resilient export growth; plug-in hybrid electric vehicles (PHEVs) outpacing battery electric vehicles (BEVs); and self-driving becoming a key factor in the market's choice of EVs, said Ming Hsun Lee, Head of Automotive and Industrials, Greater China, Bank of America Global Research. Lee said Huawei is set to launch more new car models this year under its “Harmony Intelligent Mobility Alliance (HIMA)” brand, with sales predicted to total nearly 800,000 units this year, and will form more alliances with Chinese OEMs, such as SAIC (600104.SS) and GAC GROUP (02238.HK). Xiaomi will also launch its second YU7 model between June and July this year, and the company envisions sales to reach 300,000 units this year. Lee projected mainland China's total automobile exports to heighten by 19% to 6.95 million units in 2025. Among which, the export volume of NEVs is expected to be 1.42 million units, representing a 15% YoY growth, up from 3% in 2024. In wake of the impact of tariff policies, China's NEV exports to the EU and the US market will meet resistance this year, but in Latin America, Southeast Asia, the Middle East and other regions will remain in strong growth. AAStocks Financial News |
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