Global Auto Monitor: Where Do Autos Stand Heading into 2Q?

研报英文原文证据摘录

Global Auto Monitor: Where Do Autos Stand Heading into 2Q?

Update

Morgan Stanley & Co. LLCMpreference for Mercedes-Benz over BMW, and reiterate our UW in Renault. Jahvonte G Bain

[GLOBAL] May Global Auto Sales: flat (24 Jun 2026) Global market up +0.4% Research Associate

Jahvonte.Bain@morganstanley.com +1 212 761-9231

in May. Still deteriorating in China, compensated with Europe, EMs, Japan and

Katherine A Bennorth

US. Premium market keeps retreating YoY share globally vs mass market sales. Research Associate

[GLOBAL] Global Auto Exports: jump to record high level of China exports Katie.A.Bennorth@morganstanley.com +1 212 761-3753

(16 Jun 2026) China exports maintain their accelerated pace, keeping a strong Autos & Shared Mobility

increase YoY, reaching record high levels in many markets globally, with more North America

Industry View In-Line

likely to come driven by a falling domestic market. Meanwhile, China Tyres are

starting to recover and APs exports continue growing.

[JAPAN] Japan Summer School: Japan Autos (26 Jun 2026) This presentation

covers basic knowledge and key debates on the Japan autos industry.

[JAPAN] Auto Parts & Tires: Focus on Automotive CPV Growth and

Expanding Non-automotive Businesses for AIDC (19 Jun 2026) We are OW

on Toyoda Gosei (expanded use of airbags), Nifco (growing sales to China/Korea

OEMs), NHK Spring (HDD suspension growth), GS Yuasa (ESS batteries), Toyo

Tire (continuing growth of US WLTR).

[INDIA] Tata Motors Passenger Vehicles Limited: Investor Day 2026

Feedback (23 Jun 2026) We attended the Tata PV India Investor Day 2026.

Focus was on sustained volume growth, premiumization, deep cost

transformation and closer integration of JLR and India businesses to drive

sustainable and profitable growth over the medium term.