LVS Tracker May-26 :Your Q2 results toolkit for Autos

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LVS Tracker May-26 :Your Q2 results toolkit for Autos

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Global Automobiles

LVS Tracker May-26 :Your Q2 results

toolkit for Autos

Industry Overview

Your tool set for Q2 results season in (global & EU) Autos 01 July 2026

We include in this edition not just actuals until May 2026 but also forecasts for June and Equity

Q2, which are based on S&P estimates. Some of our numbers differ in some details, but Global

it provides some context for which directions OEMs are heading into Q2, in the EU and Autos/Car Manufacturers

also the rest of the world. We explain our views in more detail on page 2-6. Horst Schneider >>

Global LV sales: May -3.4%, China -17% ResearchBofA EuropeAnalyst(Frankfurt)

Global LV sales declined 3.4% YoY in May, after -2.3% in April, mainly driven by China at +49 69 5899 5080

horst.schneider@bofa.com

-17% YoY. Europe grew c3%, but most incremental growth was captured by Chinese

Stephen Benhamou >>

OEMs. We cut our 2026 our global LV forecast (YoY change) to -2.7% from -1.8%. For Research Analyst

2027, we raise global LVS growth to +2.2% from +1.6% due to negative China revisions. BofASE (France)

33 1 8770 0293

stephen.benhamou@bofa.comChina drag and share shifts remain the key themes

Four key messages from May: 1) China remains the biggest drag, with foreign OEMs, Ming Hsun Lee, CFA >>

Research Analyst

especially German premium, losing share fast; 2) BEV adoption keeps accelerating, Merrill Lynch (Hong Kong)

favouring Chinese OEMs and pressuring ICE-heavy incumbents; 3) demand outside China +852minghsun.lee@bofa.com3508 5006

is not collapsing, but share is shifting: to Chinese OEMs in Europe, to Japanese/Korean Alexander Perry

OEMs in the US, and to Chinese premium brands in China. 4) Any OEM not exposed to Research Analyst