Citi anticipates that the bearish recovery momentum in the Chinese automotive sector will continue, driven by favorable factors such as a significant increase in wholesale sales of new energy vehicles and the obvious elimination of industry inventories. Analyst Jeff Chung and others said in the report that the rest of the benefits include increasing the share of exports to increase the profit visibility of some car companies in the second half of the year, clear differentiation among car companies, upward opportunities brought about by the approaching earnings season, and the automobile industry is entering a peak sales season. After incorporating published brand data, wholesale sales in the NEV industry are expected to increase 1% month-on-month and 23% year-on-year in July, which is better than market expectations. The following brands outperformed the industry in NEV sales in July: Zero Sports Auto, BYD, GAC Aeon, and Extreme Krypton.

Citi anticipates that the bearish recovery trend in the Chinese automotive sector will continue, driven by favorable factors such as a significant increase in wholesale sales of new energy vehicles and the obvious elimination of industry inventories. Analyst Jeff Chung and others said in the report that the rest of the benefits include increasing the share of exports to increase the profit visibility of some car companies in the second half of the year, clear differentiation among car companies, upward opportunities brought about by the approaching earnings season, and the automobile industry is entering a peak sales season. After incorporating published brand data, wholesale sales in the NEV industry are expected to increase 1% month-on-month and 23% year-on-year in July, which is better than market expectations. The following brands outperformed the industry in NEV sales in July: Zero Sports Auto, BYD, GAC Aeon, and Extreme Krypton.