WSJ汽车运输行业综述：小马智行首批2000辆robotaxi将部署欧洲和中东，管理层维持年内3500辆目标

The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0743 GMT – Oil prices retreated as analysts remain cautiously positive that talks between the Oman and Iran could reopen the Strait of Hormuz. In early European trade, Brent crude for October delivery fell 1.4% to $86.66, while WTI contracts slipped 1.6% to $80.94. Prices are in line with oil levels Wednesday morning. Iranian state-run media said Iran’s military reached an agreement with Oman on revenue sharing, though officials said a deal wouldn’t lead to reopening of the strait—something that would require U.S. involvement, ANZ analysts write. Saudi Arabia is also showing signs of greater oil loadings in the Persian Gulf, though concerns over shortages remain, the analysts say. (josephmichael.stonor@wsj.com)

0505 GMT – Qantas Airways’ bulls at Jefferies see earnings resilience and balance-sheet strength among the positives in the Australian carrier’s annual results. Analysts at the investment bank say the airline’s underlying pretax profit for the 12 months through June was 3.6% ahead of their forecast and 2% above consensus. However, they note that expectations had lowered against a backdrop of high fuel costs. Nonetheless, they sound positive on the results. In a note to clients, the analysts highlight Qantas’s continuing capital returns and its fiscal 2027 expectation of 8%-10% growth in average revenue per seat kilometer for both domestic and international operations. Jefferies has a last-published buy rating on the stock and a target price of 11.91 Australian dollars. Shares are up 4.0% at A$9.59. (stuart.condie@wsj.com)

0503 GMT – Car-parts retailer Bapcor could become a takeover target now that it appears to be turning a corner, suggests Jefferies. Bapcor’s FY26 Ebitda totaled 153 million Australian dollars. That was above the A$147 million midpoint of earlier guidance, so the result beat consensus forecasts by 4%. Revenue and underlying EPS were broadly in line. “Bapcor operationally is improving in the face of an ongoing challenging consumer sector,” says analyst John Campbell. On an enterprise value-to-sales basis, Bapcor looks very cheap. “For us, the possibility of M&A—private equity or even trade—looms,” Jefferies says. Bapcor is up 38% at A$0.63. (david.winning@wsj.com; @dwinningWSJ)

0223 GMT – Marco Polo Marine’s earnings outlook seems upbeat, says RHB Research’s Alfie Yeo in a note, noting a growing fleet and higher shipyard utilization supporting the Singapore offshore and marine company’s growth prospects. The company’s 3Q business update signaled that the company is on track to deliver revenue growth through higher shipyard revenue and newly deployed vessels, the analyst says. He expects higher shipyard capacity and four new vessels to support FY 2026 growth, while FY 2027 gains should be bolstered by revenue from the construction of a around 200 million Singapore dollar vessel order and a larger charter fleet. RHB maintains its buy rating and S$0.21 target price. Shares are flat at S$0.128.(megan.cheah@wsj.com)

0040 GMT – Hyundai Motor’s earnings could face short-term forex pressure amid a lack of near-term catalysts, Daiwa Capital’s Henny Jung and Yoonki Bae say. The South Korean auto maker remains vulnerable to the recent pullback in the dollar against the Korean won, leading Daiwa to lower its 2026-2027 EPS estimates by 4%-5%, the analysts write in a note. They say the company failed to provide granular details on robotics and autonomous driving at a recent investor-relations event. At the event, Hyundai maintained its 2030 sales target of about 5.5 million units while raising its operating profit margin target to above 9% from the 8%-9% range announced last year. (kwanwoo.jun@wsj.com)

1017 GMT – Pony AI’s first 2,000 robotaxi vehicles will be deployed mainly in Europe with a few in the Middle East, Citi analysts cite management as saying. The first batch will be exported from China, with a potential switch to European local brands in the future, with Pony earning per-mile revenue from the testing phase onward, they say. The management maintains a target of 3,500 unit this year and disclosed an internal target of 10,000 units for next year, with overseas accounting for 30% to 40%, depending on regulatory approval cadence, Citi adds. Management believes stricter entry-permit standards favor leading players with strong safety track records, they say. (jiahui.huang@wsj.com; @ivy_jiahuihuang)