ATHM: Positive On 3Q22 Performance Amid An Improving Auto Industry In China
We are positive on ATHM’s 3Q22 performance. The auto market in China is steadily showing improvement, as the launch of new vehicle brands increased 10.8% Y/Y in September, recovering from 2Q22. Under the various stimulus policies and improving COVID situation, China’s auto production reached 37.5% Y/Y in September 2022, up from 1.9% Y/Y in 2Q22.
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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