GM - Autohome Inc.: 3 Reasons Why Stock Price Could Increase By 30% In 12 Months
The Chinese Association of Automobile Manufacturers ((CAAM)) reported that the enterprise inventory for commercial vehicles in April 2020 had decreased by 4.6%. This decrease was against an increase of 6.8% for passenger cars in the same month. Automobile demand, translated in sales YoY for January and March, indicated a decline of 41.6% for crossed passenger cars, 29.2% for MPV and 35.3% for passenger cars.
Source: CAAM
The decline in sales for both passenger cars and commercial vehicles (-12.4%) has in turn made Chinese automakers to be cautious in spending. Demand destruction has adversely affected Autohome,