Citigroup 超长篇：China Auto Larger Cars the Next Big Thing

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       Citigroup 11 月 13 日超长篇，英文172页。
　　Initiating with a more bullish view than consensus—Combining our proprietaryanalysis on engines，the auto market’s latest trends and Citi’s positive GDP view，we forecast China’s PV volumes will grow 3.1/6.1% in 17/18E and at a 6.9% CAGRin 18-20E vs.the Street’s 18E estimate of +1-2% yoy.Aside from the V-shapedeffect，our investment thesis–which is in sync with our economists’/strategists’views on China’s consumption story–argues that three factors will drive the sector. 20171114-CITIGROUP-CHINA_AUTO：LARGER_CARS_THE_NEXT_BIG_THING；BUY_BRILLIANCE，G.pdf (5.57 MB, 需要: 5 个论坛币)

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