Relaxation of EV Buying Restriction in China Does Not Move the Needle for Automakers Under Coverage
The National Development and Reform Commission, or NDRC, China’s economic planning body, recently announced a plan to remove license plate quotas and road space rationing on alternative fuel vehicles across the country. Although the scrapping of purchase restrictions will undoubtedly boost short-term demand for new energy vehicles, or NEVs, we believe the resulting impacts on automotive names under our coverage are negligible. As a result, we do not plan to change our fair value estimates for Gr...Hyundai Motor is engaged in the manufacture and distribution of motor vehicles and parts. Co.'s passenger automobiles include Accent, Elantra, Sonata, Azera, Genesis, XG and Tiburon. Co.'s recreational vehicles include Santa FE, Tucson, Veracruz and Entourage. Co.'s commercial vehicles include H-1 Truck, Mighty II, 5 Ton Cargo, Tractor, Dump Truck, Aero Town, and Aero Queen.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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