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Bank of America Merrill Lynch said in its latest research report that in order to avoid direct competition with the entry level luxury brands, it is more convinced that GAC GROUP (02238.HK)  +0.100 (+1.263%)    Short selling $7.25M; Ratio 18.013%   will speed up its sales on vehicles with downsizing engine during 2014-16. BofA ML believed the same store sales growth and capacity utilization rate will improve in 3Q2015, however, its was too early to factor in a robust growth in the 2H2015 due to the engine downsizing strategy. The target price was cut from $9.96 to $8.42 and the Neutral rating was maintained.
(Quote is delayed for at least 15 mins.Short Selling Data as at 2014-09-17 16:25.)

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