Auto stocks declined collectively. As of press release, Xiaopeng Automobile-W (09868) fell 5.77% to HK$32.65; Ideal Automobile-W (02015) fell 4.38% to HK$78.6; and Great Wall Motor (02333) fell 1.41% to HK$13.96.
The Zhitong Finance App learned that auto stocks were falling collectively. As of press release, Xiaopeng Automobile-W (09868) fell 5.77% to HK$32.65; Ideal Automobile-W (02015) fell 4.38% to HK$78.6; and Great Wall Motor (02333) fell 1.41% to HK$13.96.
According to the news, in the early morning of May 22 EST (evening of May 22, Beijing time), the Office of the United States Trade Representative (USTR) announced draft rules for Huaxin's 301 tariffs, further refining the categories of products to be subject to tariffs previously announced to specific product names and customs codes. Among them, the additional tariffs on products such as electric vehicles and electric vehicle lithium batteries will take effect on August 1.
However, Everbright Securities pointed out that the impact of the US increase in NEV tariffs on China is limited, and attention should be paid to potential risks in the European market. The bank believes that the implementation of the current tariffs is a negative exhaust, and there will be no obvious impact in the short term. Currently, domestic automobile exports to the US are limited. In 2023, the volume of new energy passenger vehicles exported from China to the US was -16.2% year-on-year to 12,500 units, accounting for about 0.3% of domestic passenger car exports. The European market is still in the anti-investigation window, and independent brands should reduce potential risks through channel preparation, factory construction, and brand acquisitions as soon as possible.