Bocom Intl: China's domestic auto companies set a new record for overseas sales in June, bullish on the performance of NIO Inc-SW (09866) and Xpeng Inc-W (09868).
SAIC and Chery contributed 25% and 24% of the independent vehicle overseas sales, ranking the first and second respectively.
Hong Kong Stocks Fluctuate | Auto Stocks Rebound Collectively, July Auto Market Is Not Slow Season, New Energy Penetration Rate Breaks Through 50% For The First Time.
Auto stocks rebounded collectively. As of press time, LI Auto Inc.-W (02015) rose 5.31%, to HKD 78.3; BYD Company (01211) rose 3.47%, to HKD 214.8; Nio Inc-SW (09866) rose 2.93%, to HKD 29.9.
Electric vehicle companies are generally rising, li auto inc (02015) rose 4.51%. Institutions indicate that the continuous launch of new models of electric vehicles is expected to stimulate market growth.
Jingu Finance News: Electric vehicle companies are rising across the board. Li Auto Inc (02015) rose by 4.51%, Everg Vehicle (00708) rose by 3.64%, BYD Company (01211) rose by 3.18%, NIO Inc (09866) rose by 3.1%, Great Wall Motor (02333) rose by 2.5%, xpeng (09868) rose by 2.62%. In terms of news, the Shanghai Municipal Government issued the Special Work Plan for Mass Facilities and Equipment Renewal in the Transportation Field of Shanghai (2024-2027). It mentioned that the plan is to achieve comprehensive upgrades to public buses and taxis in Shanghai before the end of 2027.
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Hong Kong stock concept tracking | Shanghai buses and taxis will be fully electrified, the growth of electric vehicles still has resilience (with concept stocks).
The Shanghai Development and Reform Commission and other departments recently jointly issued the "Special Work Plan for Large-Scale Equipment and Facility Updates in the Transportation Field of Shanghai (2024-2027)", planning to fully realize new energy for Shanghai's buses and taxis by the end of 2027, with an annual average of over 9% of updated vehicles exceeding the total number, and a cumulative update of 6200 buses and 0.011 million taxis.
Hong Kong stocks closed on August 8, with the Hang Seng Index slightly up by 0.08%. Mainland real estate showed active performance, while shipping and autos remained under pressure for the whole day.
The Hong Kong stock market opened lower but rose afterwards, with the Hang Seng Index and the Heng Seng Science and Technology Index rising by 1% at one point; the index narrowed in the afternoon, and the Heng Seng Science and Technology Index turned downward again.
[Brokerage Focus] CMB International points out that terminal discounts in the Chinese automotive industry are still expanding.
Golden Money News | CMB International stated that based on its calculation, the average terminal discount of the entire Chinese automotive industry in July increased by 0.7% compared to the previous month, and the discount expansion rate was faster than that of June. Different from the nominal discount increase of the 2Q24 industry mainly driven by German and Japanese brands, the increase in July discounts is mainly due to domestic and Japanese brands. Although some German brands claim to withdraw from price wars in the second half of the year, the bank notes that Chinese domestic brands, especially new energy brands that value market share, still have the motivation to increase terminal discounts. The deepening competition may make the efforts of foreign brands to recover discounts almost negligible.
Hong Kong stocks fluctuate | Auto stocks are generally weak, with passenger vehicle retail data in July declining month-on-month and year-on-year. Institutions are bullish on the demand recovery of the industry in the second half of the year.
Auto stocks are generally weak. As of press time, Xpeng Autos-W (09868) fell 2.71% to HK$26.9; Brilliance Chi (01114) fell 2.15% to HK$4.1; Great Wall Motor (02333) fell 1.87% to HK$9.95.
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%.
Hong Kong stocks fluctuate | Xpeng Autos-W (09868) fell nearly 4%, with automobile sales falling behind and only 23% of the annual delivery target achieved.
Xpeng-W (09868) fell nearly 4%, as of press time, it fell 3.84% to HKD 27.55, with a turnover of HKD 0.433 billion.
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