The Zhitong Finance App learned that car dealers are picking up today. As of press release, Meidong Auto (01268) rose 7.73% to HK$9.75; Yongda Auto (03669) rose 3.55% to HK$4.08; Zhongsheng Holdings (00881) rose 3.51% to HK$31; and Harmonie Auto (03836) rose 2.33% to HK$0.88.
According to the news, on June 30, the latest “China Auto Dealer Inventory Warning Index Survey” released by the China Automobile Dealers Association showed that in June 2023, the China Auto Dealer Inventory Warning Index was 54.0%, up 4.5 percentage points from the previous year and down 1.4 percentage points from the previous month.
The China Automobile Dealers Association pointed out that since June, central and local consumer promotion policies have continued to increase, such as the Ministry of Commerce organizing a campaign to promote the consumption of cars linked to one hundred cities, and a campaign for new energy vehicles to go to the countryside in Wanzhen in Qianxian County, etc., to further accelerate the release of automobile consumer demand. The automobile market performed better than expected in June. According to comprehensive estimates, passenger car terminal sales in June will be around 1.85 million units, a slight increase from month to month.