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Guangzhou Automobile Group's production and sales report for July 2024.
Cui Dongshu: The "old-for-new" policy is gradually effective, and the performance of the new energy vehicle market in July exceeds expectations.
Cui Dongshu said that recently, the country's "scrapping old cars for new" passenger vehicle renewal policy has gradually taken effect, and corresponding policy measures have been introduced and followed up in various places. The effect of releasing consumption potential under the policy promotion is very good. Therefore, in July, the performance of electric vehicles was better than that of passenger vehicle manufacturers' predicted teams.
Express News | Guangzhou Automobile July Vehicle Sales Down 25.37% Y/Y at 141,196 Units
Guangzhou Automobile Group (601238.SH): Sales of autos in July were 141,196, a decrease of 25.37% year-on-year.
Guangzhou Automobile Group (601238.SH) announced on August 9th that the car production in July was 156,816, a decrease of 9.14% year-on-year, and the cumulative production this year was 1,016,286, a decrease of 25.79% year-on-year; car sales in July were 141,196, a decrease of 25.37% year-on-year, and cumulative sales this year were 1,004,234, a decrease of 25.83% year-on-year.
Auto stocks generally fell, with Nio (09866) falling 4.33%. In July, the wholesales of new energy passenger vehicles by manufacturers declined compared to the previous month.
Auto stocks fell across the board. NIO Inc. (09866) fell by 4.33%, Xpeng (09868) fell by 3.25%, BYD Company (01211) fell by 3.3%, Guangzhou Automobile Group (02238) fell by 2.9%, and Great Wall Motor (02333) fell by 2.07%. According to preliminary statistics from the China Passenger Car Association, there were 1.729 million passenger vehicles sold in the market from July 1 to 31, a year-on-year decrease of 2% and a month-on-month decrease of 2%. Since the beginning of this year, a total of 11.568 million passenger vehicles have been sold, a year-on-year increase of 2%. From July 1 to 31, there were 87 sales of new energy fund passenger vehicles, according to preliminary statistics.
In July, the sales of electric vehicles reached 0.879 million units, an increase of 37% year-on-year, according to the Passenger Car Association.
From July 1st to 31st, the retail sales of new energy passenger vehicles reached 0.879 million, an increase of 37% compared to the same period last year and an increase of 3% compared to the same period last month. Cumulative retail sales from the beginning of the year reached 4.991 million, a year-on-year increase of 34%.
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