《摩根士丹利：全球汽车行业研究：销量追踪显示增长放缓 - 250728（英文版）（84页）.pdf》由会员分享，可在线阅读，更多相关《摩根士丹利：全球汽车行业研究：销量追踪显示增长放缓 - 250728（英文版）（84页）.pdf（84页珍藏版）》请在三个皮匠报告上搜索。

1、M Global FoundationGlobal AutosGlobal auto sales tracker:slowing downMorgan Stanley Europe S.E.,Madrid Branch+Javier Martinez de Olcoz CerdanEquity Analyst Javier.Martinez.O +34 9141-81289 Morgan Stanley&Co.International plc+Shaqeal A KirundaEquity Analyst Shaqeal.K +44 20 7425-0736 Cindy HuangEquit

2、y Analyst Cindy.H +44 20 7425-2915 Morgan Stanley&Co.LLCAdam Jonas,CFAEquity Analyst Adam.J +1 212 761-1726 Daniela M HaigianEquity Analyst Daniela.H +1 212 761-6071 Morgan Stanley Asia Limited+Tim HsiaoEquity Analyst Tim.H +852 2848-1982 Shelley Wang,CFAEquity Analyst Shelley.W +852 3963-0047 Morga

3、n Stanley India Company Private Limited+Binay SinghEquity Analyst Binay.S +91 22 6118-1158 Sushrut Ghalsashi,CFAResearch Associate Sushrut.G +91 22 6118-1073 Morgan Stanley MUFG Securities Co.,Ltd.+Shinji KakiuchiEquity Analyst Shinji.K +81 3 6836-5416 Hiroto SegawaEquity Analyst Hiroto.S +81 3 6836

4、-8403 Hayato TakashimaResearch Associate Hayato.T +81 3 6836-5414 Morgan Stanley&Co.International plc,Seoul Branch+Young Suk ShinEquity Analyst Young.S +82 2 399-4994 Why it matters?a strong leading indicator for quarterly sales.In this periodical report,we track monthly data from local auto associa

5、tions in key markets representing 90%+global auto sales,aggregating the data by OEM,by region/market,by segment and by powertrain.Historical data suggest this information is an strong leading indicator of OEMs quarterly sales growth.Exhibit 1:Global Auto Sales(Mn units)x405060708090100Jan-95Jan-96Ja

6、n-97Jan-98Jan-99Jan-00Jan-01Jan-02Jan-03Jan-04Jan-05Jan-06Jan-07Jan-08Jan-09Jan-10Jan-11Jan-12Jan-13Jan-14Jan-15Jan-16Jan-17Jan-18Jan-19Jan-20Jan-21Jan-22Jan-23Jan-24Jan-25Monthly SAAR(Mn units)Global SAAR extrapolated(000)6 per.Mov.Avg.(Global SAAR extrapolated(000)Source:Countries local auto assoc