On December 8, it was reported that auto stocks had the highest decline. As of press release,$XPENG-W (09868.HK)$Decreased by 3.28% to HK$62;$LI AUTO-W (02015.HK)$Decreased by 1.93% to HK$136.9;$GWMOTOR (02333.HK)$Decreased by 1.54% to HK$10.22.
According to the news, in December, the “price war” between new energy vehicle companies has once again escalated. According to incomplete statistics, more than 15 car brands have recently introduced various preferential policies to try to beat them at the end of the year. Among them, many of the new major brands dropped directly to 10,000 to 30,000 yuan, even including a number of new models that were only launched in January. Traditional automobile companies are also offering deposit deductions, purchase tax subsidies, and replacement subsidies to attract consumers.
Huacheng Securities pointed out that the price pressure on the automobile industry will still be high next year, but the replacement of electric fuel and the erosion of autonomous joint ventures will continue to occur. There are currently three core influencing factors in the “price war”. Among them, since joint venture prices and electricity prices have not reached the end, and the scope is relatively large, it is expected that 2024 will continue the price pressure of 2023.