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Hefei will start issuing 44 million RMB automobile consumption vouchers from today, with electric vehicles eligible for a maximum discount of 6,000 RMB.
The Hefei Municipal Bureau of Commerce announced that from today (28th) to December 8th, a total of 44 million yuan will be distributed for the "2024 Hefei Automobile New Consumer Voucher", with the highest discount of 6,000 yuan for new energy vehicles. There will be 336 automobile enterprises participating in the event. It is reported that individual consumers purchasing non-operational automobiles (including gasoline vehicles and new energy vehicles, excluding used cars) from automobile retail enterprises participating in the event can receive and use the consumer vouchers. During the event, consumers using UnionPay cards starting with 62 to pay for the car purchase at the participating automobile sales outlets using the designated POS machine can enjoy installment payments.
Troubles within and without for American car manufacturers: Trump's tariffs and the "price war" in the China car market.
Tariffs may lead to price increases and a decrease in demand. Meanwhile, the fierce price competition in the china automotive industry will pose challenges for usa car companies' operations in china.
China Automobile Circulation Association: From November 18 to 24, the average daily trade volume of used cars was 0.0655 million vehicles, a decrease of 1.76% compared to the previous period.
In the third week of November, the daily average trading volume of used cars was 65,500 vehicles, a decrease of 1.76% compared to last week, but an increase of 2.1% compared to the same period in October.
Express News | NIO stated that multiple individuals who spread malicious rumors have been detained by the police.
Progress on the Central and Eastern Europe electric automobiles anti-subsidy case: The Ministry of Commerce states that consultations are still ongoing.
Regarding the progress of the anti-subsidy case of Chinese and European electric automobiles, according to "Riyue Tan Tian" under CCTV, spokesperson He Yadong of the Ministry of Commerce responded that the Chinese and European technical teams have engaged in intensive consultations concerning the price commitment solution. After hard work, certain progress has been made, and the consultations are still ongoing.
The president of Leauto has bet that the L60 will deliver over 10,000 units in December, with a goal of exceeding 20,000 units delivered by March next year.
At the Guangzhou Auto Show, Ai Tiecheng, president of the new brand Le Dao Automobile under NIO-SW (09866.HK)(NIO.US), announced that the company plans to achieve a monthly delivery volume of over 10,000 units for its first family asia vets electric mid-size SUV, Le Dao L60, in December. If there are doubts about the deliveries, a bet can be made with him for one L60; if the target is met, he will draw 10 NioPhones as rewards in December, demonstrating his confidence in the delivery goals. The order volume for Le Dao L60 exceeds expectations, and the company is doing its utmost for production and delivery. Currently, production orders are scheduled into the first quarter of next year.
Hong Kong stock concept tracking | In October, domestic electric heavy truck sales hit the highest level of the year, institutions bullish on the industry to usher in a turning point in volume (with concept stocks)
The new energy heavy trucks are welcoming a turning point in volume increase; focus on new forces, new ecology, and new growth.
The vehicle factory transfers cost reduction pressure upstream.
According to China Securities Journal, on November 27, after BYD requested its suppliers to reduce product prices by 10%, SAIC Maxus Automotive Co., Ltd. also sent a letter to its suppliers stating that with a large number of new cars entering the market, the imbalance between supply and demand is expected to be difficult to fundamentally improve in the short term, making it hard to calm down the price war.
Futu Daily News | The inflation indicators favored by the Federal Reserve rebound! The attitude towards interest rate cuts in December may be more cautious; the Central Office and the State Office issued the 'Action Plan to Effectively Reduce Logistics Co
The Fed's favorite inflation indicator rebounds! The usa's core PCE price index for October is 2.8% year-on-year; strong consumer spending drives steady growth of 2.8% in the usa's third-quarter GDP; Trump's team is considering digital assets advocate Atkins to serve as SEC chairman.
Special commentator Guo Jiayao: The market is watching the trend of the yuan and policy news, expecting that the index will still face significant resistance at 20,000 points.
Jingu financial news | US stocks closed low on Wednesday, the latest inflation data showed no deterioration, the market opened low and then rebounded, the Dow hit a new historical high again, followed by fluctuations and all three major indices closed lower. The US dollar trend is soft, with the yield on the US ten-year Treasury falling to 4.26 basis points, gold rebounding from a low position, and oil prices stabilizing. There were no significant changes in Hong Kong stock pre-trading securities, and it is expected that the market will lack direction in the early session. Mainland stock market rose yesterday, the Shanghai Composite Index opened low and closed high, up 1.5% at the close, with an increase in trading volume in both Shanghai and Shenzhen. Hong Kong stocks rebounded following the mainland stock market, the renminbi strengthened, bringing bullish sentiment to the market, with the index rising again.
U.S. stock market closes | All three major indexes fall, Dell plummets over 12% after earnings; Chinese concept stocks warm up, Jinlong Index rises by nearly 3%; bitcoin rebounds sharply, microstrategy rises by nearly 10%.
The Dow ended a five-day rally, falling from record highs along with the S&P; small cap stocks struggled to rebound. Dell and hp inc plummeted over 10% after earnings reports. Chinese concept stocks rebounded by nearly 3%, while Ideal autos surged almost 7%.
EV Sales Slow As Consumers Grow Weary Over High Costs, Charging NeedsHybrid Cars Have Outperformed Expectations Originally Set for EVs in 2024
NIO Inc Options Spot-On: On November 27th, 136.29K Contracts Were Traded, With 3.33 Million Open Interest
On November 27th ET, $NIO Inc(NIO.US)$ had active options trading, with a total trading volume of 136.29K options for the day, of which put options accounted for 28.46% of the total transactions,
BYD Shows China's Car Business Isn't Getting Easier for Anyone, Including Tesla -- Barrons.com
Fewer People Intend to Buy an EV Amid Price, Driving Range Concerns: EY Report
Future of EV Manufacturing Market Worth 46,315 Thousand Units by 2035| MarketsandMarkets
Express News | Popular china concept stocks are rising broadly in pre-market trading. Miniso has increased by over 7%, bilibili, iqiyi, and XPeng autos have risen by more than 4%, jd.com, Li Auto, and NIO are up over 3%, while alibaba and pdd holdings have risen by more
Leaked BYD Letter Signals China EV Price War Is Set to Intensify
Trump's tariff stick shocks the market, General Motors falls 9%, how do Ford and others escape it?
Trump's tariff policies impact the North American auto industry, general motors' stock prices plummet, while Ford's 'made in the usa' global strategy has less effect.