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In October, the retail sales of new energy vehicles hit a new high, with a consecutive four-month market share exceeding 50%. China Association of Automobile Manufacturers: It is expected to grow by nearly 40% for the whole year.
①Caixin reporter's statistics show that in October, 14 A/H-listed vehicle companies achieved year-on-year growth, with 10 companies accounting for over 70%. ②Cui Dongshu predicts that the domestic sales volume of new energy passenger vehicles in the fourth quarter is expected to be 3.55 million units, a 39% year-on-year increase. The cumulative sales volume in 2024 is expected to be 10.68 million units, a 38% year-on-year increase.
Express News | The Ministry of Commerce: There has been some progress in exchanging views on the price commitment plan for the EU's anti-subsidy case against Chinese electric vehicles.
Passenger Vehicle Branch: In October, the new energy fund passenger vehicle market retail sales were 1.196 million vehicles, a year-on-year increase of 56.7%.
In October, the new energy passenger vehicle market retail sales reached 1.196 million vehicles, a year-on-year increase of 56.7% and a month-on-month increase of 6.4%. From January to October 2024, the retail sales were 8.327 million vehicles, a year-on-year increase of 39.8%. The domestic retail penetration rate of new energy vehicles in October was 52.9%, an increase of 15 percentage points compared to the same period last year.
Shanghai promotes consumer upgrading and expansion of automobile and green home consumption.
Shanghai Municipal Commission of Commerce and other 12 departments issued the "Implementation Opinions on Better Utilizing Consumer Credit to Promote the Improvement and Upgrading of Consumption", with the goal of launching a number of leading high-quality, diversified, and integrated new consumer scenes in the fields of commerce, culture and tourism, sports, education, and civil affairs by the end of 2026; commercial banks, consumer finance companies, and automobile finance companies and other financial institutions fully leverage their respective competitive advantages and differentiation, professional positioning, combine with the demand for innovative consumer scenes, launch a number of personalized, customized consumer credit products, forming a new trend of mutual promotion and integration between consumer scenes and consumer credit.
Xpeng P7+ listing stimulates H shares to rise by more than 18%. The automotive industry still needs to pay attention to two major challenges.
①How is the performance of Xiao Peng P7+ in the market? ②What are the unfavorable situations faced by Chinese automotive stocks currently?
Auto stocks generally rose, xpeng (09868) rose by 19.1%. Cui Dongshu expects a nearly 40% year-on-year increase in domestic sales of new energy passenger vehicles in the fourth quarter.
King's Wealth Newsletter | Auto stocks generally up, Xpeng (09868) up by 19.1%, Geely Auto (00175) up by 6.14%, Nio Inc (09866) up by 6.11%, Leapmotor (09863) up by 3.15%, Great Wall Motor (02333) up by 1.79%, BYD Company (01211) up by 1.64%. Xpeng P7+ officially launched, CLTC range can reach up to 725 kilometers, starting price of 0.1868 million yuan, reduced by 0.023 million yuan from the presale price. He Xiaopeng released a Weibo on the same day, stating that Xpeng P7+ broke 1,000 orders in 12 minutes after its launch.
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