Automotive industry review: demand for passenger cars and heavy trucks down the chain to improveLast week market review: vehicle stocks 2.88% last week, auto parts-3.2%, the Shanghai composite lost 1.21%, vehicle ran losing market 1.67%, auto parts runs losing market 1.99%.
stay tuned for September increased passenger demand, than the market expected. September is the normal peak season passenger demand due to passenger cars see sequential improvement in retail demand in August, inventory from the fall, coupled with the October implementation of new energy-saving policy, expected growth in passenger car sales in September than the market expected.
industry perspectives: September passenger car demand continues to improve per cent, and demand is growing faster than expected in may, repeated August per cent improvement in demand is expected in September from rate stopped falling. Current quality shares recent adjustment had reflected the views of market gloom. And the company is both PE and PB valuations are in the bottom of the history (see below), in our view, select undervalued is expected to ring, 3-quarter flat or continue to quality companies rose. Shanghai Automotive, Yutong Bus, Chinese domains, Ding 3-quarter results rose in may; in summary, vehicle is still bullish on the Shanghai Auto, Yutong, yueda investment; Ding shares promising domain of parts cars, and so on.