Boding well for the U.S. auto sector, the space's new vehicle sales jumped 8.8% last month versus April to 1.44 million. The figure also represented a 5% increase versus the same period a year earlier. And for the first five months of the year, sales climbed 3/5% compared with 2023. Meanwhile, the fact that inflation was flat last month, spurring a decline in interest rates, was very positive for the sector. Not only will easing inflation increase Americans' spending power when they buy vehicles, but lower ...

The U.S. Bureau of Labor Statistics released the consumer price index (CPI) report for the month of May on Thursday of last week. The figures were surprising. The "core" index, which excludes volatile food and energy prices, rose only 0.2% from April, while the year-over-year (YOY) measure climbed 3.4%, its lowest in more than 3 years, according to Bloomberg. Cooling inflation for new vehicles will ultimately help to create a better demand environment for new EVs, which will help lift the values of various ...

BYD (BYDDY) The EV upstart has shown solid progress in ramping up delivery volumes and moving toward profitability. Additionally, it unveiled next-generation versions of its R1S SUV and R1T truck models, likely to be a major growth catalyst ahead. Moreover, rumors swirling over a potential partnership with Apple (NASDAQ:AAPL) and the anticipated launch of its more affordable R2 models are stoking investor enthusiasm. Source: shutterstock.com/Trygve Finkelsen The firm's strategy revolves around blending acce ...

文章核心观点 - Zacks Automotive – Foreign行业的展望目前较为黯淡，主要市场如中国、欧洲和日本的汽车销售增长预计将放缓，但由于行业估值较低，一些关键公司如BYD Co Ltd (BYDDY)和Honda (HMC)提供了有吸引力的投资机会 [1][9][10] 行业概述 - Zacks Automotive – Foreign行业涉及设计、制造和销售车辆、组件以及生产系统，高度依赖商业周期和经济条件 [2] - 主要制造国家包括中国、日本、德国和印度，技术广泛应用导致市场结构根本性重组 [2] - 严格的排放和燃油经济性目标、充电基础设施的增加以及政府支持政策推动了绿色车辆的销售 [2] - 几乎所有公司都在加强电动化，竞争日益激烈，外国汽车制造商积极投入电动和自动驾驶车辆、燃油效率和低排放技术的研发 [2] 关键投资主题 - 中国汽车销售增长将放缓：2024年第一季度，中国汽车销售同比增长10.6%，达到672万辆 [3] - 由于房地产市场长期压力，消费者情绪疲软，维持这一增长率似乎不太可能 [4] - 2024年4月和5月，汽车销售分别下降5.8%和2.2%，S&P Global预测2024年中国轻型车辆销售仅增长2-4% [4] - 中国面临美国和欧盟对其电动汽车的潜在关税，欧盟最近对中国电动汽车征收高达38%的额外关税，美国政府将中国制造的电动汽车关税提高到100% [4] 日本汽车市场的挑战 - 日本年度汽车销售自2019年以来未超过400万辆，2023年销售399万辆，同比增长15.6%，但2024年1月至5月销售下降14.8% [5] - S&P Global预测2024年日本轻型车辆销售同比下降4%至增长2% [5] - 日元对美元贬值增加了进口原材料和组件的成本，导致通胀压力，最近的汽车测试丑闻可能影响日本汽车市场的短期前景 [5] 欧盟汽车市场动态 - 2024年第一季度，欧洲车辆销售增长约7%，主要由俄罗斯、土耳其和西欧的强劲乘用车销售推动 [6] - 西欧五大市场（德国、法国、意大利、西班牙和英国）平均增长6.8%，2023年增长13.9%后，2024年预计增长4.5% [6] - 尽管存在地缘政治不确定性，欧洲央行的首次五年降息和供应链问题的缓解可能支持增长，但汽车制造商通过削减生产来降低固定成本可能限制产量 [6] - 中国对关税问题的潜在报复对德国汽车制造商如大众、奔驰和宝马构成风险 [6] 印度汽车销售增长轨迹 - 2023年，印度保持其作为世界第三大汽车市场的地位，乘用车市场首次超过400万辆，2024年第一季度新车销售增长8.2% [7][8] - 人口增长、经济增长、政府财政刺激、汽车普及率提高和新车型的推出预计将继续推动今年的销售 [8] - SUV在印度汽车市场占主导地位，5月份销售连续第五个月超过20万辆，消费者收入增加和低月供的融资选项支持SUV销售 [8] - SUV预计将继续增加市场份额，两轮车销售的增长也将贡献整体销售 [8] Zacks行业排名表明前景黯淡 - Zacks Automotive – Foreign行业在Zacks Auto-Tires-Trucks行业中排名第167，位于约250个Zacks行业中的底部33% [9] - 该行业的Zacks行业排名表明近期前景黯淡，分析师对行业公司的盈利增长潜力失去信心 [11] - 过去一年，2024年行业盈利预测下调11.5% [11] 行业股票市场表现和当前估值 - Zacks Automotive – Foreign行业在过去一年中表现优于Auto, Tires and Truck行业，但落后于Zacks S&P 500综合指数 [13] - 行业上涨3.3%，而S&P 500增长约23%，Auto, Tires and Truck行业下跌22.1% [13] - 基于过去12个月的EV/EBITDA，行业当前交易价格为8.02倍，低于S&P 500的19.65倍和Auto, Tires and Truck行业的14.38倍 [14] - 过去五年，行业交易价格最高为12.55倍，最低为6.76倍，中位数为9.26倍 [15] 值得买入的股票 - BYD：中国公司，主要从事汽车研发、制造和分销，还生产二次充电电池和手机组件 [16] - 垂直整合结构包括矿山、电池生产和芯片制造，国际市场包括亚洲、欧洲和拉丁美洲 [16] - 多样化的电动汽车产品线包括Seagull、Denza和Yangwang，最近推出了第五代DM混合动力技术 [17] - 2024年第一季度，收入和利润分别同比增长近4%和11%，预计2024年销售量将增长超过20% [17] - 目前Zacks Rank为2（买入），价值评分为B，2024年和2025年收入和盈利预测分别同比增长60%和15% [18] - 过去60天内，2024年和2025年每股收益预测分别上调4美分和8美分至3.02美元和3.68美元 [18] - Honda：日本公司，是世界最大的摩托车制造商之一，混合动力战略成功 [19] - 预计2025年摩托车和汽车销售量分别为1306万辆和297万辆，同比增长7%和4% [19] - 电动化努力值得称赞，计划2026年在北美推出Honda 0系列，2030年全球推出七款车型 [19] - 目标是在2030年每年生产200万辆电动汽车，并降低整体生产成本35% [20] - 计划在北美建立全面的垂直整合电动汽车供应链，降低电池成本20%以上 [20] - 目前Zacks Rank为2，VGM评分为B，2025年和2026年收入预测分别同比增长1%和1.3% [21] - 过去60天内，2025年每股收益预测上调9美分至4.50美元，2026年每股收益预测为4.66美元，同比增长3.7% [21]

文章核心观点 - 巴菲特旗下伯克希尔-哈撒韦公司近期减持了比亚迪公司的股票,这是其在过去两年内第二次减持该股 [1][2] - 比亚迪在2023年底超越特斯拉成为全球最大的电动车制造商,但其股价已从2022年高点下跌约30% [3] - 巴菲特一向奉行长期持股的投资策略,但最近的减持可能是看好其他更好的投资机会 [4][6] 行业分析 - 欧盟将对从中国进口的电动车征收38.1%的关税,这可能引发更长期的贸易战 [7][8] - 电动车制造是一个资本密集型行业,许多电动车公司都面临融资困难,即使是特斯拉也在应对消费者偏好变化的挑战 [11] - 许多投资者认为电动车股票的风险已经超过了收益,许多初创公司可能会破产,但比亚迪作为中国公司,其财务信息对美国投资者来说更不透明 [12] 公司分析 - 巴菲特的合伙人查理·芒格在过去曾大力推荐过比亚迪,但芒格去世后可能影响了巴菲特对该公司的看法 [8][9] - 伯克希尔-哈撒韦公司在通用汽车的持股比例不到比亚迪的一半,这表明其对比亚迪的看重程度有所下降 [5] - 尽管分析师给予比亚迪"买入"评级,但一些顶级分析师认为还有其他5只股票更值得关注 [13][14]

文章核心观点 - 伯克希尔哈撒韦继续减持其在中国最大电动车制造商比亚迪的大量股份 [2][3] - 伯克希尔哈撒韦最初在2008年以约2.3亿美元的价格购买了约2.25亿股比亚迪股票,这一投资收益丰厚,因为中国及其他地区的电动车市场出现了爆发式增长 [4] 公司概况 - 伯克希尔哈撒韦是比亚迪的早期投资者,得益于已故查理·芒格 [2] - 伯克希尔哈撒韦已经通过出售1.3百万股香港上市股票获得3.98亿美元,这使其持股比例从7%下降到6.9% [3] 行业发展 - 中国及其他地区的电动车市场出现了爆发式增长 [4]

A few years back the Israeli government lowered the automotive sales tax, which can run as high as 50% on internal combustion engine (ICE) models, to 10% for BEVs in an effort to stimulate sales of emission-free models. Consumers responded instantly, flocking to vehicles such as BYD's Attos 3 crossover, Geely's Geometry C and Tesla models. Western test market A word of caution: BYD and other vehicles built in China are advanced from a connectivity perspective, which means that they have numerous cameras and ...

That said, there has been some intriguing commentary made from Chinese EV makers in recent interviews today. The Secretary General of the China Passenger Car Association (CPCA) recently noted that the country's largest players (such as BYD and Nio) have plans to continue investing in Europe. This comes amid news that the European Union appears to be considering tariffs on Chinese-made cars due to dumping concerns. BYD, NIO Stock Could See Heightened Volatility For companies like Nio that are focusing on Wes ...

Li Auto (LI) Source: Robert Way / Shutterstock.com Li Auto is another attractive EV pick that's been hammered by the stock market in the past 12 months. Unlike its peers, Li Auto is taking a measured approach to expansion, concentrating on the burgeoning Chinese market while steadily growing its retail network. This focused strategy has proven remarkably effective for its business, with its bottom-line margins above its domestic competition. Moreover, it boasts robust financial flexibility, with a whopping ...

EVs are the future. As the world leaves behind gas-fueled cars, they are slowly shifting towards more widespread usage of electric cars. They can be cheaper to own, are subsidized by the US government, do not rely on gas supply, and are environmentally friendly. Electric vehicles are becoming so popular that 1 in every 5 cars sold in the U.S. is an EV. The potential that EVs possess is also reflected in the stock market. The EV industry is expected to grow at a compounding annual growth rate of 15.5% from 2 ...