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Huizhou Desay SV Automotive (002920.SZ): The fourth-generation cockpit product has been newly designated by customers such as Li Auto Inc, Geely Auto, GAC Aion, and Weimar Automobile.
On July 26th, Gelonhui reported that Huizhou Desay SV Automotive (002920.SZ) stated on the investor interaction platform that the company has multiple differentiated Asia Vets cockpit solutions, providing customers with more diverse product choices. The third-generation high-performance intelligent cockpit products have been mass-produced and matched with Li Auto Inc, Chery Automobile, GAC Aion, GAC Passenger Vehicle, and other customers. The fourth-generation cockpit products have been designated for new projects by Li Auto Inc, Geely Auto, GAC Aion, and Polestar, and have been mass-produced and supplied in succession. More differentiated cockpit domain controller solutions have successively obtained orders from new projects of independent and joint venture brands.
Cui Dongshu: In the first half of the year, imports of autos decreased by 4% year-on-year to 0.332 million units.
Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated that the import volume of cars to China has continued to decrease at an average annual rate of about 8% since 2017, with only 0.8 million units expected to be imported by 2023.
Minsheng Securities: Autos sector demand is on the rise as the policy of trading in old vehicles for new ones is strengthened.
This policy further clarifies the funding channels and specific amounts, among which the central government has a high proportion and strong support, which is expected to greatly promote the replacement of old with new and stimulate upward demand.
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Li Auto Unveils Scaled-back Car Purchase Incentives
Hong Kong stocks anomaly | Auto stocks fell again, Tesla's second-quarter profits fell short of expectations, and the overnight stock price fell by 12%.
Auto stocks fell again, as of press time, Great Wall Motor (02333) fell 3.39%, reported HKD 10.84; Li Auto Inc-W (02015) fell 1.48%, reported HKD 73.4.
China Securities Co., Ltd.: Electric car sales in June increased significantly compared to last month and the same period last year, with penetration rate continuing to reach a new high.
In June 2024, the sales of electric vehicles saw an increase in both year-on-year and month-on-month comparisons: the total domestic sales of new energy vehicles was 1.049 million units according to the China Association of Automobile Manufacturers, with a year-on-year and month-on-month growth of 30.1% and 9.8% respectively; the sales of new energy passenger vehicles, as measured by the China Passenger Car Association, were 0.982 million units with a year-on-year and month-on-month growth of 29.2% and 9.5% respectively, and a penetration rate of 45.3%, up by 1.6 percentage points month-on-month.
Hong Kong stock concept tracking | Hangzhou optimizes small passenger car control policy! Encouraging cities with purchase restrictions to relax vehicle purchase restrictions will promote the potential of consumer autos (with concept stocks).
On July 24th, the Hangzhou Transportation Bureau issued an announcement soliciting opinions on the "Optimization of Measures for Small Car Control Policy in Our City (Draft for Soliciting Opinions)".
U.S. stock market volatility | Electric vehicle stocks slump, Rivian Automotive (RIVN.US) falls nearly 6%.
On Wednesday, electric vehicle stocks fell along with Tesla.
Express News | Shares of EV Stocks Are Trading Lower in Sympathy With Tesla, Which Fell After Reporting Mixed Q2 Earnings
The effect of 'price for quantity' weakened slightly in July for the Sub-Association of China Association of Automobile Manufacturers, and the auto market has entered a period of stability.
The China Federation of Logistics and Purchasing indicated that in July, the effect of trading price for sales volume has slightly diminished, and the automobile market has entered a period of stability.
HKEX News | Shares of Li Auto Inc - W (02015) fell over 4%, market doubts about future product strength. Institutions said the company still has high confidence in growth.
Li Auto Inc - W (02015) fell more than 4%, as of press time, it fell 4.06% to HKD 74.5, with a turnover of HKD 0.685 billion.
Under pressure from the auto sector, Great Wall Motor (02333) fell 6.59%. Tesla's Q2 financial report fell short of expectations.
Jingu Finance News | The bicycle sector is under pressure. As of press time, Great Wall Motor (02333) fell 6.59%, Xpeng (09868) fell 5.3%, Leap Motor (09863) fell 4.94%, Nio Inc (09866) fell 4.29%, and Li Auto Inc (02015) fell 3.28%. In terms of news, Tesla (tesla) announced an adjusted EPS of $0.52 for the second quarter, below the market expectation of $0.6. Net income was $1.478 billion, lower than market expectation of $1.806 billion. During the period, revenue was $25.5 billion, a year-on-year increase of 2%.
HK stocks anomaly | xpeng-W (09868) fell more than 5%, leading the decline in autos. Tesla's Q2 profit falls short of expectations, and the release of autonomous driving is delayed again.
Auto stocks are collectively down. As of press time, Xpeng Auto-W (09868) fell 5.3% to HK$32.15; Great Wall Motor (02333) fell 4.56% to HK$11.3; Li Auto Inc-W (02015) fell 2.9% to HK$75.4.
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Li Auto Inc. (02015) sold 0.0109 million vehicles in the 29th week.
In the 29th week of 2024 (July 15th to July 21st), li auto inc achieved a weekly sales volume of 0.0109 million vehicles.
Hong Kong Shares Lower; Market Digest U.S. Election Shifts -- Market Talk