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<Research>JPM Predicts Weak Demand for CN PVs in Dec; Subsidies May Continue Next Yr with New Requirements
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Industry data shows that Chinese passenger vehicle (PV) sales in November only grew by 3% MoM, falling below seasonal levels, according to a research report by JPMorgan. The broker attributed the weak demand to consumers' wait-and-see attitude as government subsidies were exhausted earlier than expected. Meanwhile, the moderate guidance from major electric vehicle manufacturers for 4Q25 sales, along with data from the first week of December, suggests a continuation of the soft trend in December. In JPMorgan's estimate, there is more than a 50% chance that government subsidies or other forms of stimulus measures will continue next year, but there may be more requirements for vehicle technology, such as energy efficiency for new energy vehicles. AAStocks Financial News |
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