Global Auto Monitor: Earning the Re-Rate

Research evidence excerpt

Global Auto Monitor: Earning the Re-Rate

Update

July 17, 2026 05:35 PM GMT

Morgan Stanley & Co. LLCMAutos & Shared Mobility | North America Andrew S Percoco

Equity Analyst

Global Auto Monitor: Earning Andrew.Percoco@morganstanley.comDaniela M Haigian +1 212 296-4322

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

the Re-Rate Morgan Stanley Europe S.E., Madrid Branch+

Javier Martinez de Olcoz Cerdan

As 2Q earnings begin, N.A. OEMs/dealers enter on firmer Equity Analyst

Javier.Martinez.Olcoz@morganstanley.com +34 9141-81289

footing, while suppliers remain mixed. EU results face a weak

Morgan Stanley MUFG Securities Co., Ltd.+

backdrop and guidance risk, while China should favor stronger Shinji Kakiuchi

mix and exports. Beyond the print, investors will look for Equity Analyst

Shinji.Kakiuchi@morganstanleymufg.com +81 3 6836-5416

adjacent growth to support the next re-rate.

Morgan Stanley India Company Private Limited+

What Others Are Reading - Our Most Read Reports Binay Singh

[NORTH AMERICA] Tesla Inc: 2Q26 Preview: Show Us the Bots (13 Jul 2026) Binay.Singh@morganstanley.com +91 22 6118-1158

Strong auto and energy deliveries improve near-term fundamentals, but we Morgan Stanley Asia Limited+

continue to believe Robotaxi and Optimus will be the primary drivers for the Tim Hsiao

stock. Into earnings we expect constructive updates across both, though likely Tim.Hsiao@morganstanley.com +852 2848-1982

not enough to drive a decisive re-rating. Reiterate EW; PT to $417

Morgan Stanley & Co. International plc, Seoul Branch+

Young Suk Shin

[NORTH AMERICA] 2Q26 Preview: Growth Beyond Auto in Focus (13 Jul Equity Analyst

Young.Shin@morganstanley.com +82 2 399-4994

2026) Auto demand is surprisingly resilient amidst geopolitical and consumer