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From 2021 to 2022, estimated annual electric vehicle sales increased 65%. In the most recent quarter of this year, year-over-year growth was about 11%.
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For the July-September 2024 period, net profit is expected to decline by 3% year-on-year, based on the average estimate from four brokerages. Sales, however, are projected to increase by 13% year-on-year, according to the estimates.
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Thirdly, there are some global factors as well that what is the trajectory of China's stimulus, so that has been one of the key factors, which in the last year, when some of the FIIs might have thought about China also as an investment class. But after that, again, China has corrected as well
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