MeiDong Auto (01268) rose more than 7% and rose 7.07% to HK$3.03 at press time, with a turnover of HK$18.89 million.
The Zhitong Finance App learned that MeiDong Auto (01268) rose by more than 7% and rose 7.07% at press time to HK$3.03, with a turnover of HK$18.89 million.
According to the news, on March 31, the latest “China Auto Dealer Inventory Alert Index Survey” VIA (Vehicle Inventory Alert Index) released by the China Automobile Dealers Association showed that in March 2024, the inventory warning index for Chinese car dealers was 58.3%, down 4.1 percentage points from the previous year and 5.8 percentage points from the previous month. The inventory warning index is above the boom and bust line, and the automobile distribution industry is in a sluggish range.
Furthermore, the report mentioned that in March, the State Council issued a notice on the “Action Plan to Promote Large-scale Equipment Renewal and Consumer Goods Trade-In”, which clearly mentions “carrying out automobile trade-in.” The Shanghai, Shandong, Chongqing and other governments and nearly 30 car companies responded positively and introduced trade-in related subsidy policies. According to the survey, 42.5% of dealers believed that the policy was favorable to terminal sales in the second quarter, while 29.3% of dealers believed that sales increased by about 5%.