中国乘用车月度批发销售图表集 - 2026年4月
AsiaChina IndustryAutos & Auto Technology China passenger-vehicle monthlywholesale chartbook - April 2026 Wei HuangResearch Associate+852-2203-7057 This chartbook tracks China's passenger-vehicle wholesale volume on a monthlybasis, detailing wholesale trends of various automakers. Bin WangResearch Analyst+852-220-35496 Figure 1: Wholesale sales volume summary – key OEMs 11 May 2026Autos & Auto TechnologyAutos & Auto Technology 11 May 2026Autos & Auto TechnologyAutos & Auto Technology公众号：北向牧 11 May 2026Autos & Auto TechnologyAutos & Auto Technology公众号： 11 May 2026Autos & Auto TechnologyAutos & Auto Technology公众号：北向 Source : ThinkerCar公众号：北向牧风 11 May 2026Autos & Auto TechnologyAutos & Auto Technology公众号： Source : ThinkerCar Source : ThinkerCar 11 May 2026Autos & Auto TechnologyAutos & Auto Technology公众号：北 11 May 2026Autos & Auto TechnologyAutos & Auto Technology公众号： 11 May 2026Autos & Auto TechnologyAutos & Auto Technology 11 May 2026Autos & Auto TechnologyAutos & Auto Technology公众号：北向 11 May 2026Autos & Auto TechnologyAutos & Auto Technology 11 May 2026Autos & Auto TechnologyAutos & Auto Technology 11 May 2026Autos & Auto TechnologyAutos & Auto Technology Appendix 1 Important Disclosures *Other information available upon request *Prices are current as of the end of the previous trading session unless otherwise indicated and are sourced from localexchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subject companies,and other sources. For disclosures pertaining to recommendations or estimates made on securities other than the primarysubject of this research, please see the most recently published company report or visit our global disclosure look-up page onour website at https://research.db.com/Research/Disclosures/EquityResearchDisclosures. Aside from within this report,important risk and conflict disclosures can also be found at https://research.db.com/Research/Disclosures/Disclaimer.Investors are strongly encouraged to review this information before investing. Analyst Certification The views expressed in this report accurately reflect the personal views of the undersigned lead analyst about the subjectissuers and the securities of those issuers. In addition, the undersigned lead analyst has not and will not receive anycompensation for providing a specific recommendation or view in this report. Wei Huang, Bin Wang. 11 May 2026Autos & Auto TechnologyAutos & Auto Technology Equity Rating and Dispersion Key The Equity Rating Dispersion Chart depicts the following: The proportion of recommendations that are rated "buy", "sell" and "hold" over the previous 12 months. This is shown forsecurities issued in the stated region e.g. "Europe Universe". See rating definitions below. This is represented by the"Companies Covered" bars in the chart. The percentage value displayed above the bar is the proportion as a percentage.E.g. 50% above the “buy” / “Companies Covered” bar means that 50% of DB’s equity research covered companies overthe past 12 months have a “buy” rating. Next to each of the three respective bars showing the proportion of "buy", "sell" and "hold" recommendations we providetwo additional bars to show:众号：北向牧风 - The proportion of "buy", "sell" or "hold recommendations where Deutsche Bank and or/Affiliates provided MIFIDInvestment or Ancillary Services in the past 12 months. This is represented in the "MIFID Investment and AncillaryServices" bar. The percentage value displayed above the bar shows the proportion of Companies Covered with the givenrating where DB has also provided MIFID Investment and Ancillary Services in the past 12 months. E.g. 50% above the“Cos. w/ MIFID Investment and Ancillary Services” bar means 50% of the Companies Covered with the rating stated havealso received MIFID Investment and Ancillary Services from DB.公众号：北向牧风公众号：北向牧风 - The proportion of "buy" (or "sell" or "hold) recommendations where Deutsche Bank and or/Affiliates has providedInvestment Banking services in the past 12 months for which it has received compensation. The percentage valuedisplayed above the bar shows the proportion of Companies Covered with the stated rating where DB has also providedInvestment Banking services in the past 12 months. E.g. 50% above the “Cos. w/ Investment Banking relationship” barmeans 50% of the Companies Covered with the rating stated also have an Investment Banking Relationship with DB. Buy: Based on a current 12- month view of TSR, we recommend that investors buy the stock. Sell: Based on a current 12-month view of TSR, we recommend that investors sell the stock. Hold: We take a neutral view on the stock 12-months out and, based on this time horizon, do not recommend either aBuy or Sell. TSR = Total Shareholder Return. Percentage change in share price from current price to projected target price plusprojected dividend yield Newly issued research recommendations and target prices supersede previously p
