No Data
No Data
NIO Inc. (NIO): The Best EV Stock to Buy Now Under $50?
China's Sales of EVs, Hybrids Surpassed Conventional Cars in July
[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.
BAIC BluePark Shares Plunge as Orders for Joint Model With Huawei Appear to Disappoint Investors
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%.
No Data