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.
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.
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.
The effect of 'price for quantity' weakened slightly in July for the Sub-Association of China Association of Automobile Manufacturers, and the auto market has entered a period of stability.
The China Federation of Logistics and Purchasing indicated that in July, the effect of trading price for sales volume has slightly diminished, and the automobile market has entered a period of stability.
Soochow Securities: Terminal demand for heavy truck industry is flat, new energy funds perform well.
Over the next 24 years, as the economy weakly recovers, the growth of road freight volume is providing support for maintain quantity. The high oil and gas price differential is driving the continuous growth of natural gas heavy trucks due to economic reasons. Policy-driven new energy heavy trucks are being accelerated. High export growth in non-Russian regions offsets the decline in Russia, and the entire year's exports have resilience. The elimination of old trucks may lead to substantive subsidy policies to scrap National III/IV vehicles.
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Cui Dongshu: Purchasing enthusiasm is gradually released. In June, the retail penetration rate of electric vehicles reached 49%.
Cui Dongshu stated in an article that in the second quarter, the domestic retail penetration rate of electric vehicles increased by 13 percentage points year-on-year, reaching 49% in June.
Hong Kong stock concept tracking | "vehicle-road cloud integration" policy is bullish with frequent releases, the trillion-dollar market is expected to usher in a booming period (with concept stocks).
CITIC Securities pointed out that as regulations for self-driving industry on both national and local levels gradually improve, each link in the industry chain is expected to accelerate technology research and development and product deployment, benefiting the intelligent automotive industry chain.
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Cui Dongshu: Consumption upgrade drives a significant increase in the proportion of high-end car sales.
Zhicheng Financial APP learned that on July 11th, Cui Dongshu released an analysis of the market structure of passenger vehicle price segments.
Hong Kong: By mid-2027, the total number of public and private charging and parking spaces will be increased to approximately 0.2 million.
On July 10th, Frank Chan Fan, Hong Kong's Secretary for Transport and Logistics, stated in written response to a question from a legislator that the number of models of pure electric private cars available on the market continues to increase, with approximately 70% of newly registered private cars being pure electric vehicles.
China NEV Sales Back Above 1 Million in Jun, CAAM Data Show
Cui Dongshu: In June, the domestic retail penetration rate of electric vehicles reached 48.5%, a year-on-year increase of 13.6 percentage points.
According to the Zhitong Finance APP, Cui Dongshu, the Secretary-General of the China Passenger Car Association, stated that the main reason for the continued negative growth of passenger vehicle retail sales from April to June is the unexpectedly low decline of 25% in gasoline car sales compared to the same period last year, while the growth rate of electric vehicles and gasoline vehicles in June maintained a difference of 55%.
The situation of the auto market in the first half of the year: never-ending price reductions, unsellable cars.
In June of this year, the discount rate of the Chinese automobile market reached a new high in nearly three years. The strengthening of price reduction promotions has led to the sales volume of major car companies reaching an annual peak.
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Under heavy pressure from the global slowdown in the electric autos market, LG's new energy fund's profits plummeted 58%.
The continuous slowdown in sales of electric cars has had a significant impact on the performance of LG new energy fund, causing its second-quarter profit to fall short of analyst expectations.
China EV Price Competition 'Eases...for Now,' Says Morgan Stanley
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