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Cui Dongshu: Maintaining growth is not enough to rely solely on trade-in incentives. Tax incentives for car purchases are needed to stimulate first-time buyers to purchase cars.
Currently, the good effects of the trade-in policy bring a strong year-end momentum. However, this rush will lead to greater pressure on consumer activity in early 2025. Therefore, in early 2025, a strong counterforce is needed to offset the pressure of a weaker consumer year. Thus, relying solely on trade-in for stable growth in 2025 is insufficient; tax benefits on vehicle purchases are necessary to encourage first-time buyers to purchase vehicles.
European Car Sales Flat in October, EVs Gain Ground, ACEA Says
Guotai Junan International: Maintains a "buy" rating on Geely Autos, with the target price raised to HK$19.
Guo Zheng International released a research report stating that it maintains a "buy" rating for Geely Autos (00175), being bullish on the constant upgrades and iterations of various Geely brands empowered by new technologies, which will drive sales and performance growth. The target price has been raised to 19 Hong Kong dollars. The company has achieved 85.8% of its annual sales target of 2 million autos, and the firm believes that in 2024, the company will exceed its sales target, reaching 2.2 million autos. Guo Zheng International's main points are as follows: Performance meets expectations. In the first three quarters of 2024, Geely Autos achieved revenue of 167.68 billion yuan, a year-on-year increase of 36%; the net income attributable to the parent company was 13.05 billion yuan, a year-on-year increase of 358.
Retail Sales Of Cars In China Rose 11.3% In October
Taking the lead independently, with foreign investment closely following; range-extended hybrid technology sweeping the global market.
①On November 20 local time, Stellantis Group announced the launch of the STLA Frame vehicle platform. ② Stellantis Group introduced that vehicles equipped with this platform will first be equipped with innovative powertrains, including pure electric and extended-range, and in the future can also be equipped with internal combustion engines, hybrid power, and hydrogen energy power systems.
NIO's third-quarter revenue fell short of expectations, primarily due to a decreased average selling price.
NIO's third-quarter revenue announcement fell short of expectations, with the company's revenue rising to 18.7 billion yuan (2.6 billion USD) for the three months ending in September, having delivered 61,855 autos during the quarter. NIO reported an adjusted net loss of 4.4 billion yuan, slightly higher than what analysts had anticipated. NIO is one of the few electric vehicle manufacturers that is committed to producing only pure electric vehicles, which means it has missed out on more profitable hybrid vehicles that are now outpacing pure electric ones. Many competitors, including Xpeng Motors, zeekr, and Avita Technology, are planning to develop range-extended electric vehicles, which are equipped with small internal combustion engines to charge the battery.
