Automotive stocks are generally weak. As of press time, Xpeng-W (09868) fell 2.71%, reporting HKD 26.9; Brilliance Chi (01114) fell 2.15%, reporting HKD 4.1; Great Wall Motor (02333) fell 1.87%, reporting HKD 9.95.
According to the Futu Securities App, automotive stocks are generally weak. As of press time, Xpeng-W (09868) fell 2.71%, reporting HKD 26.9; Brilliance Chi (01114) fell 2.15%, reporting HKD 4.1; Great Wall Motor (02333) fell 1.87%, reporting HKD 9.95; and Li Auto Inc.-W (02015) fell 0.2%, reporting HKD 74.4.
On the news front, preliminary statistics from the China Passenger Car Association (CPCA) showed that the retail sales of passenger vehicles in July were 1.729 million, a decrease of 2% year-on-year and a decrease of 2% month-on-month. The cumulative retail sales since the beginning of this year were 11.568 million, a year-on-year increase of 2%; retail sales of new energy passenger vehicles in July were 0.879 million, a year-on-year increase of 37% and a month-on-month increase of 3%.
According to the CPCA, due to factors such as the traditional low season of production, insufficient market demand, and extreme weather such as high temperatures and floods in some areas, the overall market trend in July was not strong. Tianfeng Securities believes that with efforts from the policy and supply sides, the industry demand is expected to recover in the second half of the year, and the sector outlook may gradually improve.