Global Autos: May Global Auto Sales: flat

Research evidence excerpt

Global Autos: May Global Auto Sales: flat

Global Foundation

June 24, 2026 09:37 AM GMT

Morgan Stanley Europe S.E., Madrid Branch+MGlobal Autos Javier Martinez de Olcoz Cerdan

Equity Analyst

May Global Auto Sales: flat Javier.Martinez.Olcoz@morganstanley.comMorgan Stanley & Co. International plc+ +34 9141-81289

Shaqeal A Kirunda

Shaqeal.Kirunda@morganstanley.com +44 20 7425-0736

Matias Rodriguez Florez-Estrada

Research AssociateKey Takeaways

Matias.Rodriguez@morganstanley.com +44 20 7425-1091

Global market up +0.4% in May. Still deteriorating in China, compensated with

Morgan Stanley & Co. LLC

Europe, EMs, Japan and US. Andrew S Percoco

Premium market keeps retreating YoY share globally vs mass market sales. EquityAndrew.Percoco@morganstanley.comAnalyst +1 212 296-4322

EU OEMs Profit Warning risk: tracker < consensus 2Q26 and FY26 Daniela M Haigian

Daniela.Haigian@morganstanley.com +1 212 761-6071

Gaining global market share in May: China OEMs (again) > > Suzuki (again) > Tesla

Morgan Stanley Asia Limited+

(again) > Kia (again) > BYD.

Tim Hsiao

Losing global market share in May: VW group (again) > > Ford (again) > Toyota Tim.Hsiao@morganstanley.com +852 2848-1982

(again) > GM (again) > MBG (again), BMW (again), Hyundai (again) > Nissan > Volvo Shelley Wang, CFA

(again) > Porsche (again) > JLR (again) > Renault, Stellantis > Honda (again). Equity Analyst

Shelley.Wang@morganstanley.com +852 3963-0047

Gaining global market share MoM: BYD > > GM (again) > Tesla > Nissan > Honda > Morgan Stanley India Company Private Limited+

JLR. Binay Singh

Global premium sales: -4% in May YoY, still retreating share vs mass-market sales. Binay.Singh@morganstanley.com +91 22 6118-1158