Citi: Expecting China's auto industry to rebound in the next quarter, with passenger car demand increasing by about 30% quarter-on-quarter.

JPMorgan Chase has released a research report on the mainland Chinese automobile industry, predicting a rebound in the second quarter. They expect passenger car demand to increase by about 30% in both wholesale and retail levels on a quarterly basis, benefiting from a low base and, more importantly, the improvement in customer flow before the Beijing Auto Show. Additionally, the unfavorable factors that led to profit forecast reductions are expected to diminish after the March reporting period. The bank expects Geely Automobile and China National Heavy Duty Truck Group to outperform Bloomberg market expectations this year despite challenges in industry demand and rising input costs. They anticipate that NIO and Xiaopeng Motors will show the greatest upside potential in the second to third quarters or the second half of the year, driven by their own factors. As for BYD and Leapmotor, they are expected to gradually rebound after announcing their performance in March, as the market has already digested more conservative and achievable profit forecasts.