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Cui Dongshu: In the first half of the year, imports of autos decreased by 4% year-on-year to 0.332 million units.
Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated that the import volume of cars to China has continued to decrease at an average annual rate of about 8% since 2017, with only 0.8 million units expected to be imported by 2023.
Minsheng Securities: Autos sector demand is on the rise as the policy of trading in old vehicles for new ones is strengthened.
This policy further clarifies the funding channels and specific amounts, among which the central government has a high proportion and strong support, which is expected to greatly promote the replacement of old with new and stimulate upward demand.
China Securities Co., Ltd.: Electric car sales in June increased significantly compared to last month and the same period last year, with penetration rate continuing to reach a new high.
In June 2024, the sales of electric vehicles saw an increase in both year-on-year and month-on-month comparisons: the total domestic sales of new energy vehicles was 1.049 million units according to the China Association of Automobile Manufacturers, with a year-on-year and month-on-month growth of 30.1% and 9.8% respectively; the sales of new energy passenger vehicles, as measured by the China Passenger Car Association, were 0.982 million units with a year-on-year and month-on-month growth of 29.2% and 9.5% respectively, and a penetration rate of 45.3%, up by 1.6 percentage points month-on-month.
The effect of 'price for quantity' weakened slightly in July for the Sub-Association of China Association of Automobile Manufacturers, and the auto market has entered a period of stability.
The China Federation of Logistics and Purchasing indicated that in July, the effect of trading price for sales volume has slightly diminished, and the automobile market has entered a period of stability.
Guolian: Geely Auto (00175) has obvious advantages in growth and leading advantages in the product cycle of vehicle models, rating "buy".
Guolian Securities stated that among the brands, Geely's new energy old models have a leading cost performance after price adjustments, while the new car cycle has strong ability.
[Brokerage Focus] Haitong Securities gives Geely Auto (00175) a "outperform" rating, expecting the strong growth momentum of sales to continue.
Haitong Securities released a research report indicating that Geely Auto (00175) will achieve sales of over 1.68 million vehicles in 2023, a year-on-year increase of 17.7%, and new energy vehicle sales of 0.487 million vehicles, accounting for 28.9%. In May 2024, it achieved sales of nearly 0.79 million vehicles, a year-on-year increase of 45%, continuing its strong growth momentum, with new energy vehicle sales of 0.254 million vehicles, accounting for 32.2%. The bank noted that Geely Auto has maintained a high level of sales in recent years. With the clear structure of the company's brand and the gradual formation of its technology platform, the achievements of intelligence have begun to take root. The bank believes that the public...
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