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The China Automotive Association: In 2024, auto production and sales will reach a new high, with annual production and sales of Electric Vehicles exceeding 10 million units for the first time.
In terms of Passenger Vehicles, production and sales continue to grow, maintaining the top global position for 16 consecutive years. The market share of China brand Passenger Vehicle sales has significantly increased compared to last year, and high-end brand Passenger Vehicle sales have also seen a year-on-year increase; regarding New energy Fund, it has ranked first globally for 10 consecutive years, with both production and sales surpassing 10 million units, and domestic sales growth approaching 40%, with a significant increase in market share compared to last year.
Feilong Auto Components (002536.SZ): Currently, the main clients and sample exchanges in the civilian sector include China Power Investment, Shenzhen Envicool Technology, Xiaomi Autos, XPeng Autos, and others.
On January 13, Longzhonghui reported that Feilong Auto Components (002536.SZ) stated in a recent investor relations activity that the main clients and sample exchanges in the civil sector currently include more than 50 companies such as State Power Investment Corporation, HP Project, Xi'an Tiantai, Jiangsu Aitis, Yaho Electronics, Shenzhen Xingqihong, Shenzhen Envicool Technology, Infineon, Guangzhou Gaolan, Xiaomi Autos, L Project, Xpeng Motors, Zongshen Aviation, Volvo AB Unsponsored ADR Class B, Dongfeng Pain, and others.
China NEV Sales at Record 1.596 Million in Dec, CAAM Data Show
30 million units achieved, RBOB Gasoline Passenger Vehicles dropped nearly 20%. China Automotive Industry Association: In 2025, Electric Vehicles will impact 16 million units.
① The deputy secretary-general of the China Automotive Industry Association, Chen Shi Hua, predicts that total auto sales will reach 32.9 million vehicles in 2025, a year-on-year increase of 4.7%. Among these, the sales of new energy autos are expected to be 16 million units, a year-on-year increase of 24.4%. ② In the context of a comprehensive year-on-year decline in market share, it has become a necessary option for joint venture brands to intensify the "price war," with various promotional policies such as limited-time fixed prices, discounts of tens of thousands of yuan, and government subsidies.
Hong Kong stocks movement | Autos stocks continue their downward trend, with January auto sales expected to decline no more than 20% year-on-year. Major institutions claim that the risk of a price war in the auto market still exists.
Automobile stocks continue to decline. As of the time of this report, DONGFENG GROUP (00489) fell by 4.19%, trading at 2.97 Hong Kong dollars; Li Auto-W (02015) dropped by 3.3%, trading at 85.05 Hong Kong dollars; Great Wall Motor (02333) decreased by 0.78%, trading at 12.64 Hong Kong dollars; Xpeng Inc.-W (09868) fell by 0.43%, trading at 46.4 Hong Kong dollars.
[Brokerage Focus] BOCOM INTL expects the New energy Fund penetration rate to increase further to 60% by 2025.
Jinwu Financial News | BOCOM INTL states that in 2024, retail sales of Passenger Vehicles will increase by 5.5% year-on-year, with a 12.0% increase in December. Retail sales of Electric Vehicles will grow by 40.7% year-on-year, with a penetration rate of 47.6%. In 2024, Passenger Vehicle exports are expected to grow by 25% year-on-year, with a 6% increase in December. The bank indicates that driven by the old-for-new and scrapping renewal subsidy policies, the Passenger Vehicle market in China will achieve a 5.5% retail growth rate in 2024, with the penetration rate of Electric Vehicles reaching 47.6%. On January 8, 2025, a new round of old-for-new policies for consumer goods will be introduced, concerning the scrapping of Autos.
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