Deutsche Bank tracks weekly new orders for China's new energy vehicles in the 4th week of June

Overview

This is a weekly data-tracking report by Deutsche Bank on China's auto and auto technology sectors, centered on a leading indicator of China NEV demand, namely weekly new orders. The report states that its chartbook tracks new passenger vehicle orders in China on a weekly basis and further shows new order flow trends for major Chinese NEV automakers.

Core views

The visible main text emphasizes that weekly new orders can serve as a leading indicator for changes in China NEV demand. Because the input text lacks chart figures and specific automaker details, it is not possible to confirm the magnitude or ranking of order increases or decreases for each automaker in the 4th week of June; what can be confirmed is that the report focuses on order flow among major Chinese NEV automakers rather than valuation recommendations for any single company.

Analysis framework

The report adopts a high-frequency order monitoring framework, using weekly new orders as a leading demand indicator to track order flow for Chinese passenger vehicles and NEV automakers. The appendix includes Deutsche Bank's company rating distribution, buy/hold/sell definitions, TSR definitions, and compliance and risk disclosures.

Methodology notes

• Industry High-Frequency Data TrackingWeekly New Order Monitoring

  Leading demand indicator

  Using weekly incremental order flow to observe changes in demand for new energy vehicles in China can reflect demand momentum earlier than traditional sales or financial data.

• Sell-Side Rating FrameworkTSR Rating Definition

  Total shareholder return

  Deutsche Bank discloses that its buy, hold, and sell ratings are based on a 12-month total shareholder return perspective, with TSR including the change in share price from the current price to the target price plus the expected dividend yield.

Asset mapping & comparison

Structured mapping from thesis to named assets (strengths, weaknesses, peers, risks).

• China's new energy vehicle industry chain

  Core coverage target

  Strengths

  High-frequency order data helps capture changes in demand more promptly.

  Weaknesses

  The input text lacks chart figures and automaker details, making it impossible to quantify industry prosperity.

  Comparison

  Compared with monthly sales or quarterly earnings, weekly new orders function more as a leading indicator.

  Risks

  Order data may be affected by promotions, seasonality, model transitions, and statistical methodology.

• Major Chinese NEV automakers

  Order flow monitoring targets

  Strengths

  Short-term sales momentum can be assessed through new order trends.

  Weaknesses

  Specific automaker order data was not disclosed, so the performance of individual companies cannot be confirmed.

  Comparison

  Suitable for comparing order trends among different automakers on the same weekly basis.

  Risks

  There may be lags or conversion-rate differences between orders and final deliveries, revenue recognition, and profitability.

Key data

• Report Date2026-06-30The main text shows Date 30 June 2026.
• Research InstitutionDeutsche Bank ResearchDisclosed on the report cover page.
• AnalystsBin Wang; Wei HuangThe report lists Bin Wang as Research Analyst and Wei Huang as Research Associate.
• Coverage UniverseChinese passenger vehicles and major Chinese NEV automakersThe report states that it tracks new passenger vehicle orders in China on a weekly basis and breaks down new order flow trends among major Chinese NEV automakers.
• Core MetricWeekly new ordersThe report title and body define this as a leading indicator of demand for new energy vehicles in China.

Impact & implications

For investors, weekly new orders help provide an early view of inflection points in NEV demand, short-term order momentum at automakers, and potential changes in sales volume. However, because this input does not provide chart figures, only the analytical framework and coverage scope can be confirmed, and it is not possible to judge the relative strength of specific automakers or form a clear trading conclusion on this basis.

Risks

• The input text lacks the specific chart data for Figure 1 and subsequent pages, so conclusions cannot be quantified.
• NEV orders may be affected by subsidies, price wars, model launches, channel promotions, and seasonal factors.
• Order data is not equivalent to deliveries, revenue, or profit, and there is uncertainty from order cancellations and delivery conversion.
• The report appendix highlights general investment risks including market, exchange rate, interest rate, derivatives, liquidity, and compliance risks.

What to watch

• Whether weekly new orders continue to improve or weaken in subsequent weeks.
• Divergence in order share and trends among major Chinese NEV automakers.
• Transmission of order changes into deliveries, inventory, discounts, and gross margin.
• The impact of price competition, model updates, policy changes, and the macro consumption environment on orders.