BAIC MOTOR News

China's Auto Sector Gets Boost From National Trade-in Policy in November

MT Newswires03:16 ET

China's Auto Circulation Association: The used car market was significantly active in December, with an average daily Trade volume reaching 0.0666 million vehicles.

On December 12, the China Automobile Dealers Association released the weekly report on the used car market.

Zhitong Finance03:05 ET

Hyundai Motor, BAIC to Inject $1.1 Billion in Chinese Joint Venture

MT Newswires22:47 ET

Featured announcements | Kanzhun revenue increased 19% year-on-year in the third quarter; China Taibao's original premium income during the year exceeded 410 billion yuan

Xinyi Glass and Xinyi Auto Glass (Hong Kong) signed a 2024 glass supply agreement; CGN Energy completed a cumulative total of 17,684.1 gigawatt-hours of power generation in the first 11 months, an increase of 1.7% over the previous year.

cls.cn19:17 ET

Hong Kong Stock Report, December 12: KPMG expects Hong Kong listed companies to raise more than 100 billion dollars next year, and Kaisa discloses the progress of overseas debt restructuring

① The Legislative Council of the Hong Kong Special Administrative Region passed the “Stamp Duty Legislation (Miscellaneous Amendments) Bill 2024” ② KPMG expects to raise capital of HK$100 billion for listed companies in Hong Kong ③ KPMG discloses progress in overseas debt restructuring ④ Bitcoin market strengthens again and rises back to 0.1 million US dollars

cls.cn18:40 ET

Gelonghui Announcement Highlights (Hong Kong Stocks)︱Kanzhun-W (02076.HK) reported a 26.5% increase in operating profit for the third quarter and a 30.0% increase in monthly active users.

[Today's Focus] Kanzhun-W (02076.HK) reported a 26.5% increase in operating profit for the third quarter and a 30.0% rise in monthly active users. Kanzhun-W (02076.HK) announced that in the third quarter of 2024, the company’s revenue was 1,911.6 million yuan, a 19.0% increase compared to 1,606.6 million yuan in the same quarter of 2023. The operating profit for the third quarter was 330.2 million yuan, which is a 26.5% increase from 261 million yuan in the same quarter of 2023. As of September 30, 2024,

Gelonghui FinanceDec 11 09:37 ET

China's Nov Auto Sales Climb 11.7% To 3.32 Million Units

Business TodayDec 11 08:44 ET

China Auto Body Seeks Subsidy Extension as EV Exports Take Hit

BNN BloombergDec 11 03:15 ET

Aim for 30 million vehicles for the whole year, with RBOB Gasoline vehicles experiencing a "four consecutive months increase". The China Association of Automobile Manufacturers calls for early implementation of consumer promotion policies next year.

1. The domestic sales of traditional fuel Passenger Vehicles reached 1.21 million units, a decrease of 0.105 million units compared to the same period last year, with a month-on-month growth of 16.2% and a year-on-year decline of 8%. 2. Chen Shihua, deputy secretary-general of the China Automobile Industry Association, urged that relevant policies to promote Consumer spending on Autos continue next year and be implemented as soon as possible.

cls.cnDec 11 02:06 ET

Everbright: The impact of the vehicle trade-in subsidy for the entire year is far better than expected. Bullish on investment opportunities in the Autos Sector driven by policy support.

The Politburo meeting has prioritized loose policies and boosting consumer activity, which are highly relevant to the Autos industry.

Zhitong FinanceDec 10 18:34 ET

Jibang Consulting: In the third quarter, the total installed capacity of global electric vehicle traction power inverters reached 6.87 million units, an increase of 7% compared to the previous quarter.

In the third quarter of 2024, the total installed capacity of global electric vehicle traction power inverters reached 6.87 million units, which is a 7% increase compared to the previous quarter, but the growth rate has declined compared to the same period last year.

Zhitong FinanceDec 10 00:57 ET

The momentum for trade-ins is strong! In November, china's sales of new energy fund vehicles increased by 50% year-on-year, setting a new record, while exports fell by 6.3%.

In November, the Passenger Vehicle market achieved historic highs in retail, wholesale, production, and exports, with explosive growth in Electric Vehicles. The Passenger Car Association noted that the majority of scrappage replacements and some trade-in customers chose to purchase Electric Vehicles. Subsidy policies, particularly those promoting entry-level pure electric vehicles and the narrow plug-in hybrid market, strongly boosted growth and further solidified the expansion foundation for Electric Vehicles penetration.

wallstreetcnDec 9 04:24 ET

In November, the electric vehicle market experienced explosive growth, with nearly 80% of A/H share listed car companies seeing their sales increase year-on-year, and many setting new records.

① In November, retail sales of new energy passenger vehicles reached 1.268 million units, a year-on-year increase of 50.5% and a month-on-month growth of 5.9%, with the domestic retail penetration rate of electric vehicles reaching 52.3%; ② In November, the explosive growth of new energy vehicles reflects the market's positive feedback on the national scrapping and updating program and the "double new policy" of replacing old with new; ③ Twelve auto manufacturers achieved a year-on-year increase in sales in the new energy market in November.

cls.cnDec 9 04:07 ET

China NEV Retail Hits New Record High in Nov, While Penetration Declines Further

CnEVPostDec 9 03:42 ET

Worried about Trump's policies, South Korean electric car battery manufacturers are reconsidering their investment plans in the United States.

Informed sources reveal that some south korean companies have slowed down or suspended some ongoing factory constructions due to concerns over a decrease in demand for electric autos and the policies that Trump is expected to implement.

Zhitong FinanceDec 8 18:46 ET

Huachuang Securities: It is expected that electric vehicle sales will see significant growth in Q4 2024, pay attention to the policies for capturing orders at the end of the year.

Based on the sales data of various automobile manufacturers from January to October 2024 and the potential new vehicles, it is expected that the domestic wholesale sales of new energy passenger vehicles could reach 12.12 million units, +35%, of which pure electric vehicles could account for 6.79 million units, +9%, and hybrid vehicles could account for 5.34 million units, +94%.

Zhitong FinanceDec 6 00:36 ET

A newcomer in the U.S. Senate claims to end subsidies for electric vehicles, allowing consumers to decide which models to purchase.

① Bernie Moreno, the incoming senator from ohio in the usa, stated that if he becomes the "autos czar" in the next Trump administration, one of his top priorities would be to eliminate the $7,500 tax credit for electric vehicles; ② Moreno emphasized that the "market should play a role," calling for an end to government intervention in businesses, and advocated for creating a favorable tax, regulatory, and labor environment for auto companies.

cls.cnDec 5 14:46 ET

The used car market shows a steady growth trend, with the daily average trade volume remaining stable at over 0.065 million vehicles throughout November.

The China Automobile Dealers Association stated that in the last week of November, the used car market showed a steady growth trend, with an average daily trade volume reaching 0.0658 million vehicles, a slight increase of 0.36% compared to the previous week.

Zhitong FinanceDec 5 03:41 ET

Market Chatter: Hong Kong Considering Some EV-Friendly Changes in Traffic Laws

MT NewswiresDec 4 20:35 ET

China Nov NEV Wholesale at Record 1.46 Million, CPCA Estimates Show

CnEVPostDec 3 04:33 ET