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Major Bank Rating | DBS Bank: NIO Autos Expected to Achieve Stronger Profits, Raises Target Price to HK$65
DBS Bank analyst Rachel Miu wrote in a report that NIO Inc. could achieve stronger earnings with the potential increase in sales of the new Onvo L60 model and the accelerated overseas expansion. Miu noted that the sales of the Onvo L60 in its first month reached 832 units, and sales are expected to increase for the remainder of the year. Furthermore, NIO Inc.'s expansion into the Middle East and North Africa through joint ventures may further boost the company's sales. DBS Bank maintains a buy rating on the stock and has raised its target price from HKD 57 to HKD 65.
Nio Likely to Deliver Stronger Earnings on Sales, Overseas Expansion -- Market Talk
DBS Maintains NIO Inc(NIO.US) With Buy Rating, Cuts Target Price to $7.5
Troubles within and without for American car manufacturers: Trump's tariffs and the "price war" in the China car market.
Tariffs may lead to price increases and a decrease in demand. Meanwhile, the fierce price competition in the china automotive industry will pose challenges for usa car companies' operations in china.
China Automobile Circulation Association: From November 18 to 24, the average daily trade volume of used cars was 0.0655 million vehicles, a decrease of 1.76% compared to the previous period.
In the third week of November, the daily average trading volume of used cars was 65,500 vehicles, a decrease of 1.76% compared to last week, but an increase of 2.1% compared to the same period in October.
Express News | NIO stated that multiple individuals who spread malicious rumors have been detained by the police.