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Barclays pointed out that factors such as battery, supply chain, and economies of scale provide Chinese automakers with up to 40% cost advantage, with BYD Qin Plus gross margin reaching 18%. Benefiting from China's cost advantage, the gross margin of the domestic Tesla Model Y is as high as 24%, about twice that of the overseas version.
Research Reports | Soochow Securities: BYD's sales in July meet market expectations, maintaining a buy rating.
Soochow research reports pointed out that BYD (002594.SZ) sold 0.35 million vehicles in July, which was flat compared to the previous month and in line with market expectations. Among them, 0.211 million plug-in hybrid passenger vehicles were sold in July, an increase of +67%/+8% year-on-year/month-on-month, accounting for 61.6% of total sales and up by 13.4/+4.5 percentage points year-on-year/month-on-month. Cumulative sales from January to July were 1.955 million, an increase of 29%. Qin L and Haner 06 have sufficient orders in hand, and there were previously bottlenecks in component capacity. It is expected that rapid increase in sales will follow after August, and the Tang/Han series will be iterated one after another before the end of the year, opening a new round of new vehicle model cycle. Sales in 2024 are expected to reach 4 million, a growth of 36%, from the previous year.
DBS: Rates BYD Company (01211) with the market and sets target price at HKD 225.
According to Morgan Stanley, a multi-channel sales strategy is a prerequisite for BYD to implement its global plan.
BOCOM Intl: Different performance of mainland vehicle companies' sales in July, and BYD company is the preferred choice in the industry (01211).
In July, li auto inc delivered a total of 0.051 million vehicles, a month-on-month increase of 6.8%, reaching a historical high for monthly deliveries.
[Brokerage Focus] Bocom Intl: In July, the effect of trading price for quantity in the automobile market weakened and some automakers entered the new car release period in the second half of the year.
Bocom Intl's research reports indicate that based on some of the publicly available car sales data for July, car companies' sales performance varied, with 10 car companies' sales increasing by 27.3% year-on-year, remaining roughly unchanged on a month-on-month basis. The effect of price concessions on sales volume weakened in July, while some car companies entered the period of releasing new cars in the second half of the year, and the automobile market was relatively stable.
[Special guest V] Guo Jiayao: Investors are concerned about the risk of global economic recession and are waiting to see the performance of blue chip stocks soon to be announced.
Golden Finance| US stocks fell significantly last Friday, with the latest job data in the United States lower than expected. The market is concerned that the risk of economic recession is increasing, and US stocks have been sold for several days, with all three major indexes posting significant losses at the closing. The trend of the US dollar is downward, and the yield on the 10-year US bond has fallen to 3.79 cents. The gold price is performing strongly, while the oil price is trending downwards. The Hong Kong stock market's pre-trading securities generally fell, and it is expected that the market will follow suit with a lower opening in the early stages. The mainland stock market fell last Friday, with the Shanghai Composite Index opening lower and closing down 0.9%. The turnover of the Shanghai and Shenzhen stock markets has slightly decreased. Dragged down by the external market, the Hong Kong stock market followed suit in falling, with the index falling below the 17,000-point level, and transaction volu
By January to June 2024, China will account for 65% of the world's electric vehicle market share.
In the first six months of 2024, China's export of electric vehicles performed well in the South American and Southeast Asian markets, which is a result of China's strong industry chain and the double growth of domestic market and export.
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In June, global auto sales fell by 1% year-on-year to 7.8 million units, with Chinese car companies accounting for 33%.
In June 2024, China accounts for 33% of the world's automotive market share.
Tesla's (TSLA.US) sales in China soared by 15.3% in July, reversing the downturn.
Tesla's auto deliveries in the China market saw significant growth in July, a 15.3% year-on-year increase that successfully reversed the previous downward trend.
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