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Bank of America Downgrades Stock Ratings of Several European Automakers
5 hour ago /
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Author：小编
Bank of America Merrill Lynch downgraded the stock ratings of European automotive giants Stellantis NV and Renault Group on May 12 (Eastern Time), while also lowering the target price for Volkswagen's stock. This move is primarily due to the rise of Chinese automakers in the European market, with their sales surging approximately 100% year-on-year in the first quarter of this year and their market share doubling to around 8%.
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