CHINESE AUTO BRANDS WILL IMPROVE PROFITABILITY WITH EV UPGRADES

Chinese auto brands are set for better profitability in 2024 despite intensifying competition in the world's largest auto market, UBS analysts said on Tuesday, thanks to upgrades they have been making in their electric vehicle (EV) product mix. The average selling price (ASP) of Chinese-branded cars has surged in the past two years and will see high single-digit growth this year, narrowing the gap with foreign brands, said Paul Gong, UBS' head of China autos research.

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