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Cui Dongshu: In the first half of the year, imports of autos decreased by 4% year-on-year to 0.332 million units.
Cui Dongshu, Secretary-General of the China Association of Automobile Manufacturers, stated that the import volume of cars to China has continued to decrease at an average annual rate of about 8% since 2017, with only 0.8 million units expected to be imported by 2023.
Commercial vehicle sector is on the rise. Weichai Power (02338) rose by 8.58%. Two departments announced the policy of replacing old cars with new ones.
Goldman Sachs News | The commercial vehicle sector is generally rising. Weichai Power (02338) rose by 8.58%, Sinotruk (03808) rose by 6.91%, China International Marine Containers (02039) rose by 4.89%, Dongfeng Group (00489) and EV Dynamics Holdings Limited (00476) followed suit. On the news front, the National Development and Reform Commission and the Ministry of Finance issued several measures to support large-scale equipment updates and the replacement of consumer goods with old ones, raising the subsidy standards for automobile scrap replacement updates. CITIC Securities pointed out that the new version of the automobile replacement policy exceeds market expectations, and the stimulus to the automobile industry will be far greater than the end of April.
Minsheng Securities: Autos sector demand is on the rise as the policy of trading in old vehicles for new ones is strengthened.
This policy further clarifies the funding channels and specific amounts, among which the central government has a high proportion and strong support, which is expected to greatly promote the replacement of old with new and stimulate upward demand.
Express News | Honda Spokesperson: Aim to Start Production at EV Plant Being Constructed Through Jv With Dongfeng by Sept 2024
Express News | Honda Spokesperson: Will Pause Production at No.2 Plant Operated Through Dongfeng Jv in China From Nov 2024
China Securities Co., Ltd.: Electric car sales in June increased significantly compared to last month and the same period last year, with penetration rate continuing to reach a new high.
In June 2024, the sales of electric vehicles saw an increase in both year-on-year and month-on-month comparisons: the total domestic sales of new energy vehicles was 1.049 million units according to the China Association of Automobile Manufacturers, with a year-on-year and month-on-month growth of 30.1% and 9.8% respectively; the sales of new energy passenger vehicles, as measured by the China Passenger Car Association, were 0.982 million units with a year-on-year and month-on-month growth of 29.2% and 9.5% respectively, and a penetration rate of 45.3%, up by 1.6 percentage points month-on-month.
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东方不亮南方亮 : This loss is terrible