Goldman Sachs lowered the growth rate of the mainland's auto market growth is expected to decline
Goldman Sachs recently released the latest report is expected to mainland China car market growth next year, were down 1.5 and 1 percentage point to 9.5% and 8% expected growth in 2017 continue to decline 7%.
Passengers National Car Market Information Co the latest data show that China's passenger car sales in May generalized 1,570,000, an increase of 3.8%, a record for the lowest growth rate over the same period. Goldman Sachs estimates that growth in the car market China slowed even more inevitable, faces three major negative factors, a weak economic growth will affect consumption of cars, the second is a second-tier cities, because of possible purchase of the policy ahead of the consumer effect gradually disappeared three against political corruption impact on demand for imported premium cars
Head rotor.
Goldman Sachs said that China's domestic brands are market share, the first five months of this year from 32.7 percent market share of domestic brands rose to 37.6 percent last year, especially the midsize SUV models. Domestic brand sales this year will grow by 21%, international brands grew 8%.
Chinese-funded enterprises in Hong Kong-listed vehicle, Goldman Sachs gives Geely (00175.HK) "buy", target price HK $ 4.66; give BYD (61.99, -1.59, -2.50%) (002594.HK) "buy" price of HK $ 61.66 target, to the east (00489.HK) "neutral", target price HK $ 12.18. They consider foreign car companies, Goldman Sachs believes that the process of slowing Chinese, Ford demand by the impact is smaller than GM, because the former is the market share much smaller, so the rating of the GM " buy "to" hold there "will be transferred to Ford's rating to" buy ".
