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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.
Express News | China Auto Industry Body Cpca Official: China's Car Sales Will Likely to See Annual Rise of 5% in 2024
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.
Goldman Sachs: Buy rating on BYD Company (01211) with a target price of 359 Hong Kong dollars.
byd company limited plans to accelerate the development and installation of ADAS functions for the mass market brands (Dynasty and Ocean series) next year.
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