Research Note

Deutsche Bank on China EV market: Jan looking soft as expected
China EV stocks are up an average of 20 percent year-to-date but have underperformed China tech ADRs since December, likely due to investor concerns about weak first-quarter sales ...
Deutsche Bank on XPeng price cut: Fighting for volume takes priority
By fighting for volume, XPeng's gross margins will take a hit as costs are not materially lower, Edison Yu's team said. ...
China EV market getting through rough patch and should return to normal trend growth by spring, says Deutsche Bank
On a full-year basis, the reopening of China will have a positive impact on consumer sentiment and should boost vehicle production and sales in the second quarter, said Edison Yu's ...
Goldman Sachs raises 2023 forecast for China auto sector to reflect faster-than-expected Covid reopening
After a disappointing 2022, some tailwinds will drive a recovery in retail sales and production in the Chinese auto sector in 2023, Goldman Sachs said. ...
Deutsche Bank asks: Will NIO's operational issues ever end?
"The short is answer is yes but we share investor frustration following the guidance cut last week," Edison Yu's team wrote. ...
Deutsche Bank on Dec China EV sales: Li Auto shines, NIO disappoints
Li Auto showed strong execution and sequential growth, while Zeekr's sales performance was the biggest positive surprise of last year, said Edison Yu's team. ...
How is China's NEV industry faring as Covid wave sweeps country? CICC explains
Major automakers including BYD, Tesla, NIO, and Li Auto were relatively unaffected, as they all have a certain level of order backlog, according to CICC. ...
Deutsche Bank: NIO has several potential positive developments going into year-end
"Going into year-end, we see several potential positive developments for NIO," said Deutsche Bank analyst Edison Yu. ...
Li Auto Q3 earnings: Deutsche Bank's first look
The sharp decline in gross margin was due to a huge hit of $803 million from inventory provisioning and loss of purchase commitments related to the accelerated phase-out of Li ONE. ...
Li Auto to report Q3 earnings on Dec 9, what to watch?
"We expect a somewhat messy quarter due to accelerated phase-out of the Li ONE materially hurting margins," Deutsche Bank analyst Edison Yu's team said. ...