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Cui Dongshu: In September, the consumer spending on autos was 453.9 billion yuan, a year-on-year increase of 0.4%.
On October 18th, Cui Dongshu stated in a post that according to data from the National Bureau of Statistics, in September, the total retail sales of consumer goods were 4.112.2 billion yuan, a year-on-year increase of 3.2%, with the growth rate accelerating by 1.1 percentage points compared to the previous month. Among them, auto consumption was 453.9 billion yuan, an increase of 0.4% year-on-year, while non-auto consumer goods retail sales reached 3.657.3 billion yuan, up 3.6%.
Mini Cuts Prices of Its EVs by up to 29% in China to Boost Sales
BofA Securities: Great Wall Motor and Dongfeng's transition to electric vehicles is relatively slow, both downgraded ratings.
Bank of America Securities released a research report, adjusting the target price based on the performance and sales of China's auto manufacturers in the third quarter. It indicated that in September, China's wholesale volume of electric autos increased by 42% year-on-year to 1.29 million units, with the electric vehicle penetration rate reaching a historical high of 45.8%. By October 7th, the Ministry of Commerce had received subsidy applications for 1.27 million units of replacing old with new vehicles, of which 60% were electric cars. The outlook is that the strong momentum of electric vehicle sales can continue into the fourth quarter. Bank of America has revised upwards the passenger vehicle sales forecast for the next two years by 0.1% and downwards by 0.2%, to a year-on-year growth of 2.2% and 1.5% respectively; at the same time, for the next two years.
Special report | Auto stocks rose in the afternoon, with October performance expected to remain strong.
On October 18th, $Autos (LIST1040.HK)$ rose in the afternoon. As of the time of publication, $Guangzhou Automobile Group (02238.HK)$ increased by 7.09%, to 2.72 Hong Kong dollars; $BYD Company (01211.HK)$ increased by 6.95%, to 289.4 Hong Kong dollars; $Geely Auto (00175.HK)$ increased by 6.34%, to 12.74 Hong Kong dollars; $li auto inc-W (02015.HK)$ rose by 6.11%, to 99.9 Hong Kong dollars; $leapmotor (09863.HK)$ rose by 5.58%, to 3
China Merchants: Latest ratings and target prices for auto stocks (table) Key recommended BYD Company (01211) etc.
According to data from the China Passenger Car Association, mainland China's passenger vehicle wholesale volume in September was 2.5 million vehicles, a year-on-year increase of 2.1%, and a quarterly increase of 16.1%, with the beginning of the peak season effect.
HK Stock Market News | Weak performance of auto stocks, significant disagreements remain in China-EU electric vehicle tariff negotiations, Xiaopeng denies compromising privately with the European Union.
Auto stocks were weak, as of the time of publication, xpeng-W (09868) fell by 2.99%, closing at HK$40.6; Brilliance Chi (01114) fell by 1.08%, closing at HK$2.75; Great Wall Motor (02333) fell by 0.76%, closing at HK$13.04.
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Simon 5183 : It is estimated that it will be better than that "far ahead" trash!