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JP Morgan observed that Chinese auto stocks have experienced a pullback of approximately 5% over the last two weeks, underperforming the MSCI China Auto Index, which dropped by 3.3%. Several automakers and dealers have reported their 2024 results, most of which met expectations. However, state-owned automakers generally missed forecasts.
The investment bank highlighted two main themes for Chinese auto stocks this year: earnings surprises and growth in global market share. JP Morgan believes that Chinese automakers with strong products and solid earnings will outperform in the long run.
