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Cui Dongshu, Secretary General of the China Passenger Car Association: The 'Autos to the Countryside' policy needs to be strengthened rather than suppressed.
In 2024, China's auto market retail achieved the expected strong start, followed by a sharp divergence between electric vehicles and gasoline vehicles. From January to August 2024, the retail sales of electric vehicles reached 6.01 million units, showing a relatively strong trend with a 35% increase, close to the 36% growth rate in 2023.
Hong Kong stocks are moving differently, with early gains in the automotive sector. The industry's outlook is expected to improve, with limited impact from the United States' increase in tariffs on electric cars from China.
Autos stocks mostly rose in the morning, as of the press time, li auto inc-W (02015) rose by 3.97%, closing at 77.2 Hong Kong dollars; guangzhou automobile group (02238) rose by 2.69%, closing at 2.29 Hong Kong dollars; Leap Motor (09863) rose by 2.45%, closing at 23 Hong Kong dollars.
Express News | Guangzhou Automobile Group will launch the GAC Trumpchi E9 PHEV model in Hong Kong.
The USA has raised the tariff on electric cars to 100%, and the industry assesses that the impact is limited.
Recently, the US government has decided to significantly increase import tariffs on Chinese products, with the tariff for electric cars increasing by 100%.
"Golden September and Silver October" peak season, car companies boost sales by "lowering prices and adding features".
①The advanced driving assistance system has been extended to models priced below 0.2 million yuan, leading to an increase in brand sales. ②In multiple areas, the 'trade-in for new' subsidy for automobiles has been launched, and the brand and dealer stores have followed up with corresponding discounts and car purchase policies.
Express News | Guangzhou Automobile Group's GOVE self-driving aviation vehicle has been granted a civilian unmanned aerial vehicle charter flight certificate.