Soochow Securities: Terminal demand for heavy truck industry is flat, new energy funds perform well.
Over the next 24 years, as the economy weakly recovers, the growth of road freight volume is providing support for maintain quantity. The high oil and gas price differential is driving the continuous growth of natural gas heavy trucks due to economic reasons. Policy-driven new energy heavy trucks are being accelerated. High export growth in non-Russian regions offsets the decline in Russia, and the entire year's exports have resilience. The elimination of old trucks may lead to substantive subsidy policies to scrap National III/IV vehicles.
Beijing Offers Extra 20,000 EV Quotas in 1st Relaxation of Car Purchase Policy Since 2011
Market Chatter: BeyonCa Partners With CATL Unit, Other Firms to Expedite 'Made in Hong Kong' EV
Cui Dongshu: Purchasing enthusiasm is gradually released. In June, the retail penetration rate of electric vehicles reached 49%.
Cui Dongshu stated in an article that in the second quarter, the domestic retail penetration rate of electric vehicles increased by 13 percentage points year-on-year, reaching 49% in June.
Hong Kong stock concept tracking | "vehicle-road cloud integration" policy is bullish with frequent releases, the trillion-dollar market is expected to usher in a booming period (with concept stocks).
CITIC Securities pointed out that as regulations for self-driving industry on both national and local levels gradually improve, each link in the industry chain is expected to accelerate technology research and development and product deployment, benefiting the intelligent automotive industry chain.
China's 2024 NEV Sales Expected to Reach 11.5 Million, Says CAAM Secretary-general
Cui Dongshu: Consumption upgrade drives a significant increase in the proportion of high-end car sales.
Zhicheng Financial APP learned that on July 11th, Cui Dongshu released an analysis of the market structure of passenger vehicle price segments.
Cumulative sales of heavy trucks in the first half of the year increased by only 3%, and the market pressure will be very high in the second half of the year.
According to the First Commercial Vehicle Network, the heavy truck market sold a total of 0.5045 million vehicles from January to June 2024, which is at a medium level in the past five years (but the gap between sales in the first half of 2020, 2021 is very large, and it is less than half of the sales in the first half of 2021), an increase of 3% from the same period last year, with a net increase of about 0.016 million vehicles. The cumulative sales growth rate has been shrinking month by month (as shown in the figure). Looking at monthly sales, the sales volume of 0.0714 million heavy trucks in June is the second lowest in the first half of this year, which can only be ranked in the year 2023.
Hong Kong: By mid-2027, the total number of public and private charging and parking spaces will be increased to approximately 0.2 million.
On July 10th, Frank Chan Fan, Hong Kong's Secretary for Transport and Logistics, stated in written response to a question from a legislator that the number of models of pure electric private cars available on the market continues to increase, with approximately 70% of newly registered private cars being pure electric vehicles.
China NEV Sales Back Above 1 Million in Jun, CAAM Data Show
Cui Dongshu: In June, the domestic retail penetration rate of electric vehicles reached 48.5%, a year-on-year increase of 13.6 percentage points.
According to the Zhitong Finance APP, Cui Dongshu, the Secretary-General of the China Passenger Car Association, stated that the main reason for the continued negative growth of passenger vehicle retail sales from April to June is the unexpectedly low decline of 25% in gasoline car sales compared to the same period last year, while the growth rate of electric vehicles and gasoline vehicles in June maintained a difference of 55%.
Market Chatter: Chinese Car Sales Decline for Three Straight Months
The situation of the auto market in the first half of the year: never-ending price reductions, unsellable cars.
In June of this year, the discount rate of the Chinese automobile market reached a new high in nearly three years. The strengthening of price reduction promotions has led to the sales volume of major car companies reaching an annual peak.
Market Chatter: China's NEV Registration Jumps 39% in H1
China's Car Export Jumps 28% YoY But Flat From Month Before
China's NEV Ownership Reaches 24.72 Million by End of Jun
Dongfeng's Sales and Output Fall in June
China NEV Retail Rises to 856,000 in Jun, Penetration Hits Another Record at 48.4%
Under heavy pressure from the global slowdown in the electric autos market, LG's new energy fund's profits plummeted 58%.
The continuous slowdown in sales of electric cars has had a significant impact on the performance of LG new energy fund, causing its second-quarter profit to fall short of analyst expectations.
Express News | Dongfeng Motor - June Total New Energy Vehicle Sales Volume 34,167 Units, up 28.5%
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