Cui Dongshu of the China Passenger Car Association: In October, the number of imported cars in mainland China fell by 45% year-on-year and 21% month-on-month.

The Secretary-General of the China Passenger Vehicle Market Information Joint Conference, Cui Dongshu, stated through his personal WeChat public account that in October 2024, the mainland import volume of passenger vehicles was 0.044 million vehicles, a year-on-year decrease of 45% and a month-on-month decrease of 21%, marking a rare significant decline. Cui Dongshu pointed out that since 2017, the import vehicle market has been continuously shrinking, decreasing from 1.24 million vehicles to 0.8 million vehicles this year. For the first ten months of this year, the cumulative import volume was 0.58 million vehicles, a 9% year-on-year decrease. This trend is closely related to the rise of domestic automobile brands and the accelerated localization of international brands in the mainland. Additionally, with the recent years, mainland consumers' preference for domestic products.

AASTOCKSNov 29 12:03

China Harmony Auto Expands as BYD Distributor in Hong Kong

TipRanksNov 27 19:09

Car dealers Ping Sheng Yongda Auto (03669) rose by 10.64%. Institutions expect car demand to continue to rise by the end of the year.

Jingwu Financial News | Car dealers have generally increased, yongda auto (03669) rose 10.64%, meidong auto (01268) increased by 5.13%, harmony auto (03836) rose by 2.82%, zhengtongauto (01728) increased by 2.5%, zhongsheng hldg (00881) rose by 2.31%. Senior economist Xu Changming from the National Information Center stated today at the 2024 Automotive Finance Industry Summit that the wholesale sales volume of domestic passenger vehicles is expected to be 23 million units this year, an increase of 2.7% year-on-year, with terminal sales expected to reach around 23.5 million units, a year-on-year increase of 6-7%, throughout the year.

Jingu Wealth NewsNov 21 14:52

Ministry of Commerce: Plan in advance for next year's automobile trade-in policy.

Song Yingjie, a level two researcher at the Consumer Promotion Department of the Ministry of Commerce, stated that the policy of early planning to replace old cars with new ones next year will be continued, hoping to stabilize market expectations and improve related automobile policies to promote convenient trade of used cars. He mentioned that the current mainland application volume for scrapping and replacement of automobiles has exceeded 2 million, totaling over 4 million. At the same time, the daily subsidy application volume remains high, driving the year-on-year increase of over 50% in the amount of scrapped cars recycled in the first ten months of this year.

AASTOCKSNov 21 10:17

Express News | Any changes in the byd company limited dealers in Hong Kong? Response is here.

BreakingsNov 6 11:12

Harmony Auto (03836.HK) spent 0.15 billion yuan to purchase assets and become a BYD dealer in Hong Kong.

Harmony auto (03836.HK) announced that its subsidiary Harmony new energy car service (Hong Kong) will acquire assets from the independent third party Lian Da Automobile, including showrooms, service centers, warehouses, warehouse parking spaces, test drive cars, and office vehicles. Through this acquisition, the group will become the exclusive dealer of BYD new energy cars in the Hong Kong market. Cash price is 0.15 billion yuan, intended to be paid with internal resources.

AASTOCKSNov 5 00:07