ATHM: Positive On 1Q24 Performance Due To Improvement In The Auto Market, Mainly Driven By EV Car Sales; The Adoption of Trade-In Policy Is Likely to Further Boost Sales
ATHM will report 1Q24 results on May 8th before the markets open with an 8 am ET conference call. We are positive about ATHM’s 1Q24 performance. The auto market in China continues to improve driven by EV sales. The market share of EV cars has already reached 31.1% in China. With aggressive competition in the EV area, ATHM has become one of the most wanted platforms for market and customer acquisition. As China is adopting auto trade-in measures, we believe auto sales is likely to go up further throughout 2024.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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