Hong Kong stocks | auto parts stocks weaken Goldman Sachs expects China's auto sales to fall 1% year-on-year this year

On January 28, Gelonghui auto parts stocks weakened, Xinchen Power fell 5.56%, Nexteer fell 5.39%, and Fuyao Glass fell more than 4%.

Goldman Sachs released a research report that this year's Chinese auto market has structural challenges, including used car sales cannibalizing new car purchases, as well as rising penetration of online ride-hailing services, as well as cyclical challenges, including parts shortages and other factors. For these reasons, the bank's forecast for China's auto sales this year fell 1% year-on-year, below the market average.