Zhitong Financial APP learned that at the beginning of trading, a number of auto dealership stocks weakened. As of press time, Meidong Motor (01268) fell 6.11% to HK $34.60; Zhongsheng Group (00881) fell 4.43% to HK $63.60; Yongda Motor (03669) fell 2.79% to HK $11.14; Guanghui Baoxin (01293) fell 2.70% to HK $0.72; Zhengtong Motor (01728) fell 1.06% to HK $0.93.
At present, the cumulative number of diagnosed COVID-19 in Germany has exceeded 6 million, and the death toll has also exceeded 100000. Germany's health minister warned over the weekend that the epidemic could peak around Christmas this year, when the capacity of ICU intensive care beds will reach its limit.
At the same time, the lack of chips and other delivery bottlenecks still haunt the auto industry's capacity. In the third quarter of this year, the total value of German car exports fell 17.2% from a year earlier to 23.1 billion euros, the lowest since the second quarter of 2020, according to data released by Germany's Federal Bureau of Statistics.
Guotai Junan International pointed out that of the mainland retail sales, about 20% of Mercedes-Benz and BMW are imported models, while Audi is about 12%, accounting for a higher proportion of the overall luxury brands. Coupled with the extremely low inventory in the current channel, any supply fluctuations will be quickly reflected in the sales side.