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ZEEKR Newsroom
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.
U.S. stocks movement | Cumulative revenue growth exceeded 50% year-on-year in the first three quarters, zeekr (ZK.US) rose over 7%.
On Wednesday, zeekr (ZK.US) stock price surged significantly, rising by 7.5% to $22.51.
Passenger Association: In the first two weeks of November, the retail sales of electric vehicles reached 0.581 million units, a year-on-year increase of 66%.
From November 1 to 17, retail sales of new energy passenger vehicles in the market reached 581,000 units, an increase of 66% compared to the same period last year and a 7% increase compared to the previous month. Since the beginning of the year, cumulative retail sales have reached 8.909 million units, up 41% year-on-year.
China Securities Co., Ltd.: The benefits of auto electrification are coming to an end, while asia vets are reshaping the high-end market landscape.
Due to tax discrepancies, the profitability of domestic high-end electric vehicles significantly surpasses that of imported rbob gasoline vehicles. Calculating at a tax-inclusive price of 0.5 million, the tax difference between the two can reach as much as 0.653 million.
US Electric Vehicle Demand Seen Plunging 27% Without Tax Credit
China EV Insurance Registrations for Week Ending Nov 11: Nio 3,800, Tesla 17,100, Xiaomi 5,700, BYD 94,700
Zeekr Rises 8.9%
Zeekr Begins Deliveries of Zeekr X SUV in HK
Zeekr and Lynk & Co are starting a new chapter together, Geely autos (00175.HK) is accelerating its transformation to initiate high-quality development.
On November 14th, on the eve of the Guangzhou Auto Show, Geely Autos (00175.HK) released its third quarter financial report for 2024, with impressive results. The third quarter revenue was 60.378 billion yuan, setting a new quarterly record, with a non-controlling shareholder net profit of 2.76 billion yuan, a year-on-year increase of 116%, achieving double growth in income and profit. On the same day, Geely Autos' future development saw positive changes, as Geely Holding announced the optimization of Zeekr and Lynk & Co's shareholding structure. Specifically, Geely Holding will transfer its 11.3% stake in Zeekr to Geely Autos. After the completion of the transaction, Geely Autos' shareholding in Zeekr will increase to
US Manufacturing Index Rises To 43, Highest Since 2020
ZEEKR Intelligent Technology Holding Limited (ZK) Q3 2024 Earnings Call Transcript Summary
ZEEKR Strengthens Position With Geely Integration
ZEEKR Intelligent Is Defended by Analysts After Earnings Drop
BofA Securities Maintains ZEEKR(ZK.US) With Buy Rating, Raises Target Price to $29.5
ZEEKR's Q3 Results: Record Deliveries and New Model Success