Express News | Xpeng is also going to make extended-range vehicles, and the first car will be mass-produced next year.
China Merchants Securities International: Raises target price for Xpeng-W (09868) to HK$50, bullish on BYD Company (01211) and Geely Auto (00175).
China Merchants Securities International stated that the subsidy increase will help boost the peak season effect, and economy type electric vehicles are highly elastic, which is expected to benefit BYD Company and Geely Auto the most.
Cui Dongshu: The sales structure trend of price segments in the national passenger vehicle market continues to rise, with a significant increase in the proportion of high-end vehicle sales.
According to the China Passenger Car Association data, the national passenger vehicle market price segment sales structure trend continues to rise, with a significant increase in the sales proportion of high-end models and a decrease in the sales proportion of low-priced models.
China Merchants Securities raised its target price for XPeng (09868.HK) to 50 yuan, improving product cycle certainty with the success of new car models.
China Merchants Securities International released a report stating that according to data from the China Passenger Car Association, 2.15 million passenger vehicles were wholesale in mainland China in August, a year-on-year decrease of 3.9%, but a quarterly increase of 9.6%. Among them, domestic brands continue to show strength with a 12% year-on-year increase, while mainstream joint venture car companies continue to struggle with a 30% year-on-year decrease. In the first eight months of this year, the industry accumulated wholesale sales of 15.94 million vehicles, a year-on-year increase of 3.7%. Looking ahead to September, the industry is expected to enter the peak season, and supply and demand are expected to continue to strengthen. The bank stated that subsidy incentives will boost the peak season effect, and economically priced electric vehicles have high flexibility, with BYD Company Limited (01211.HK) and Geely Auto (00175.HK) expected to benefit the most.
Spain and Germany Call on EU to Push Back EV Tariffs on Chinese EV
Hong Kong stocks fluctuate | Auto stocks fall at the beginning of the market. Reports claim that the European Union has rejected all minimum import quotes from Chinese electric auto manufacturers.
Auto stocks fell at the beginning of the trading session. As of press time, Xpeng-W (09868) fell 3.76% to HKD 33.3, while Great Wall Motor (02333) fell 1.82% to HKD 10.8.