Hong Kong stocks movement | Autos shares rose across the board. The effects of the November auto trade-in policy continue to manifest, and Institutions say that this policy is expected to continue next year.

The auto stocks rose across the board. As of the time of writing, NIO-SW (09866) increased by 3.9%, trading at 3.64 HKD; Li Auto-W (02015) rose by 2.7%, trading at 87.55 HKD; LEAPMOTOR (09863) increased by 2.78%, trading at 29.6 HKD; Xpeng Motors-W (09868) rose by 3.01%, trading at 49.6 HKD.

Zhitong Finance20:42 ET

In November, China sold a total of 6,337 large and medium-sized new energy buses over 7 meters, an increase of more than 80% year-on-year.

Statistics show that in November 2024, there were a total of 6,337 large and medium-sized new energy buses over 7 meters sold in the country, an increase of 9.71% compared to the previous month (5,776 units) and an increase of 80.44% compared to the same month last year (3,512 units).

Zhitong Finance18:06 ET

Countdown to "Double New" subsidies: local governments and car companies are both making efforts as the end of the year approaches, and the car market enters the sprint phase.

According to data from the Ministry of Commerce, as of December 13, 2024, the "Double New" subsidy policy has driven Passenger Vehicle sales to exceed 5.2 million units, including over 2.51 million units from scrapped vehicles and over 2.72 million units from replacement vehicles. Meanwhile, many local governments have intensified efforts to implement policies to promote Consumer spending on Autos.

cls.cnDec 17 03:51 ET

China's Auto Sector Price Pressure May Persist Amid Intense Competition -- Market Talk

WSJDec 17 01:38 ET

Trump Transition Team Proposes EV Policy Rollback

InvestingDec 16 06:34 ET

[Brokerage Focus] Guosen Securities gives LEAPMOTOR (09863) an initial rating of "Outperform Market" indicating that it is in a high growth period for the next three years.

Jingwu Financial News | Guosen Securities reported that LEAPMOTOR (09863) is a leading Asia Vets electric vehicle company in China, which has maintained high revenue growth in recent years, with gross profit turning profitable in 2023. The company will launch new models (C10/C16) in 2024, and overall sales are rapidly increasing (cumulative year-on-year growth of +100% from January to November 2024), with monthly sales reaching a new high (over 40,000 in November). The company has deep cooperation with Stellantis and will release its Global Strategy at the Paris Auto Show in October 2024. The report states that the global auto market is divided into the US, Japan, India, Korea, the European Union, and non-EU countries in Europe.

Jinwu Financial NewsDec 16 00:59 ET