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BAIC MOTOR News
China Nov NEV Wholesale at Record 1.46 Million, CPCA Estimates Show
At the end of the year, the "sales boost battle" in the car market has begun: multiple car companies have updated the December car purchase benefits, with BYD's terminal prices showing a slight loosening.
BYD has launched various popular car models with different levels of discount policies in December. leapmotor, which has already completed its annual sales target ahead of schedule, updated the car purchase benefits for December on December 2nd.
Hong Kong stock unusual movement | Auto stocks strengthened in the morning, with the hot season in the car market continuing, and sales of multiple car companies hitting a new high in November.
Auto stocks are generally strong. As of the time of publication, Guangzhou Automobile Group (02238) rose by 20.81% to HK$3.6; Bejing Automotive (01958) rose by 6.7% to HK$2.39; Geely Automobile (00175) rose by 6.06% to HK$14.7.
In November, China's heavy truck market sales increased by 0.071 million units, up 7% month-on-month, ending five consecutive declines.
According to the preliminary data obtained by the First Commercial Vehicle Network, in November 2024, China's heavy truck market sold approximately 0.071 million vehicles in total (wholesale basis, including exports and new energy), a 7% increase from October, basically flat compared to the same period last year's 0.0711 million vehicles.
Huatai's outlook for the autos industry in 2025: Policy support, brands seeking progress, technology as the offensive.
It is expected that the market for mid-to-high-end vehicles will continue to improve by 2025, and there is a bullish outlook for Hongmeng and others.
Hefei issued 44 million yuan in consumer vouchers and Ideal launched a zero-interest financial plan. Local governments and car companies are competing for the year-end "consumption wave".
① On November 29, according to the Hefei Municipal Bureau of Commerce, from November 29 to December 8, 2024, new consumer vouchers for autos will be issued in Hefei, totaling 44 million yuan. ② On the same day, Li Auto announced a limited-time 0% interest policy until the end of the year. From now until December 31, users purchasing the Li L-series and Li MEGA can enjoy a minimum down payment financing plan with 0% interest for 3 years.
China Automobile Circulation Association: From November 18 to 24, the average daily trade volume of used cars was 0.0655 million vehicles, a decrease of 1.76% compared to the previous period.
In the third week of November, the daily average trading volume of used cars was 65,500 vehicles, a decrease of 1.76% compared to last week, but an increase of 2.1% compared to the same period in October.
EV Sales Slow As Consumers Grow Weary Over High Costs, Charging NeedsHybrid Cars Have Outperformed Expectations Originally Set for EVs in 2024
BYD Shows China's Car Business Isn't Getting Easier for Anyone, Including Tesla -- Barrons.com
Future of EV Manufacturing Market Worth 46,315 Thousand Units by 2035| MarketsandMarkets
Under the dual pressures of 'price wars' and electrification transformation, this year will see 4,000 4S stores close down. Traditional dealers are 'abandoning' rbob gasoline vehicles and embracing new energy.
① The deputy secretary-general of the China Automobile Dealers Association, Lang Xuehong, recently predicted that the number of 4S stores expected to withdraw from the market this year will reach 4,000. ② In the past year, more than 40 traditional luxury brand dealers have chosen to switch to Nio. ③ Zhongsheng Hldg announced that it has signed a preliminary agreement with Chongqing Sokon Industry Group Stock, and both parties agree to further negotiate on the cooperative distribution of new energy fund.
Citic Securities: The circle of swapping batteries is gradually expanding, and the industry may usher in new development opportunities.
Citic sec released a research report stating that compared to charging, battery swapping is a more efficient refueling method, while also having multiple advantages such as high safety and user-friendliness.
Niu Sen openly challenges Trump: If you cancel electric vehicle subsidies, California will pay for it themselves.
① Newsom stated that if the Trump administration cancels the federal tax credit, California will restart its own subsidy program; ② According to the latest data, the total number of zero-emission autos sold in California has exceeded 2 million; ③ During Trump's first term, a dispute occurred with Newsom regarding automobile emission standards.
The EU may adjust tariffs on electric autos from China, with NIO rising over 4%, leading Hong Kong's auto stocks.
① How did china's automotive export data perform in October? ② What are the institutions' expectations for the chinese automotive market in November?
Cui Dongshu: In October, China's automobile exports reached 0.59 million units, a year-on-year increase of 11%.
Cui Dongshu, the secretary-general of the Passenger Car Association, stated that in October 2024, China's automobile exports reached 0.59 million units, an 11% year-on-year increase from October 2023 and a 3% decrease compared to last month, with stable year-on-year and month-on-month trends.
Cui Dongshu: Maintaining growth is not enough to rely solely on trade-in incentives. Tax incentives for car purchases are needed to stimulate first-time buyers to purchase cars.
Currently, the good effects of the trade-in policy bring a strong year-end momentum. However, this rush will lead to greater pressure on consumer activity in early 2025. Therefore, in early 2025, a strong counterforce is needed to offset the pressure of a weaker consumer year. Thus, relying solely on trade-in for stable growth in 2025 is insufficient; tax benefits on vehicle purchases are necessary to encourage first-time buyers to purchase vehicles.
European Car Sales Flat in October, EVs Gain Ground, ACEA Says
China's Passenger Car Sales Jump 11% in October
Retail Sales Of Cars In China Rose 11.3% In October
Taking the lead independently, with foreign investment closely following; range-extended hybrid technology sweeping the global market.
①On November 20 local time, Stellantis Group announced the launch of the STLA Frame vehicle platform. ② Stellantis Group introduced that vehicles equipped with this platform will first be equipped with innovative powertrains, including pure electric and extended-range, and in the future can also be equipped with internal combustion engines, hybrid power, and hydrogen energy power systems.
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