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Express News | He Xiaopeng announced the Xiaopeng G7, positioned as a mid-sized pure electric SUV in the 0.25 million range.
8 Consumer Discretionary Stocks Whale Activity In Today's Session
The "New energy Fund" subsidy has a strong impact! In December, China's sales of New energy Fund vehicles increased by 37.5% year-on-year, with a penetration rate exceeding 50% for five consecutive months in 2024.
The Passenger Vehicle Federation stated that in 2024, the wholesale, production, and export of the passenger vehicle market will all reach annual historical highs, and there is still huge potential for consumer promotion in 2025.
Xpeng Teases New SUV G7 to Take on Tesla Model Y
Everbright: The upgrade of the subsidy for vehicle trade-ins further stimulates the acceleration of Autos Consumer.
With the longer subsidy cycle and wider subsidy range of the trade-in policy, along with the rolling release of domestic replacement purchase demand, it is expected that the boost to annual sales will still be promising.
China Passenger Vehicle Association: It is expected that this year's retail sales of New energy Fund Passenger Vehicles will increase by 20% year-on-year to 13.3 million vehicles.
The China Passenger Vehicle Market Information Joint Conference analyzed the outlook for the national Passenger Vehicle market in January 2025. Based on the continuation of policies in 2024, it is determined that domestic retail sales in the automotive market will reach 23.4 million units, with an annual growth of 2%. Retail sales of New energy Fund Passenger Vehicles will be 13.3 million units, growing annually by 20%, with a penetration rate of 57%. Attention should be paid to the implementation of promotional policies during the sales push at the end of 2024, noting that currently, provincial and municipal subsidies are being approved faster than company subsidies. It is important to focus on user reassurance and follow-up procedures to enhance Consumer satisfaction and recommendation regarding the sales process.
The China Passenger Car Association expects sales to decline year-on-year in January, estimating that the decrease will not exceed 20%.
The China Passenger Vehicle Industry Information Joint Conference analyzed the outlook for the national passenger vehicle market in January 2025, stating that there will be 19 working days in January 2025, three days less than both January and December of last year. The Automobile Industry typically takes an early break before the Spring Festival, meaning the effective production and sales time in January will be short. January is a time of significant fluctuations in the automobile market, greatly affected by the external economic environment and seasonal demand, especially due to the impact of the Spring Festival. The Joint Conference explained that the adverse effects from current changes in the external environment have deepened, while the overall operation of the domestic economy remains stable and is steadily advancing, but still faces insufficient domestic demand and hidden risks.
Mainland Passenger Vehicle exports grew by 6% year-on-year last month, with Electric Vehicles accounting for 30% of the export volume.
Data released by the China Passenger Vehicle Market Information Joint Conference shows that in December 2024, the export of Passenger Vehicles (including complete vehicles and CKD) reached 0.404 million units, with a year-on-year growth of 6% and a month-on-month growth of 2%. The total export of Passenger Vehicles for the entire year of 2024 is projected to be 4.791 million units, a year-on-year increase of 25%. The data indicates that in December 2024, Electric Vehicles accounted for 30.2% of the total export volume, an increase of 3.1 percentage points year-on-year. Among them, self-owned brand exports reached 0.345 million units, with a year-on-year growth of 4% and a month-on-month growth of 1%; joint venture and luxury brand exports stood at 0.058 million units, marking a year-on-year increase of 16%.
Last month's retail sales of New energy Fund Automobiles in the mainland grew by 37.5% year-on-year, and for the whole of last year, the growth was 40.7%.
Data released by the China Passenger Vehicle Market Information Joint Meeting shows that in December 2024, national retail of passenger vehicles reached 2.635 million units, representing a 12% year-on-year increase and an 8.7% month-on-month increase. The total retail for the entire year of 2024 is expected to reach 22.894 million units, with a year-on-year growth of 5.5%. The data indicates that in December 2024, the retail of New energy Fund passenger vehicles was 1.302 million units, a 37.5% year-on-year increase and a 2.6% month-on-month increase. The total retail for the entire year of 2024 is expected to reach 10.899 million units, with a year-on-year growth of 40.7%.
Express News | Tesla China sold 93,766 vehicles wholesale in December.
Express News | The Passenger Vehicle Association: In December, domestic retail sales of New energy Fund Passenger Vehicles reached 1.302 million units, an increase of 37.5% year-on-year.
Hurun's list of the 50 most valuable AI companies in China ranks SenseTime (00020.HK) third with a value of 50 billion yuan.
The Hurun Research Institute released the "2024 Hurun China AI Enterprises Top 50", which includes 27 non-listed companies, with a threshold value of 6 billion yuan (RMB). The threshold for the top ten is a value of 22 billion yuan. Founded in 2016 and headquartered in Peking, the AI chip company Cambricon (688256.SH) ranks first with a value of 238 billion yuan. The intelligent voice company Iflytek Co.,ltd. (002230.SZ) ranks second with a value of 116 billion yuan. The Machine Vision and large model company SenseTime (00020.HK) ranks third with a value of 50 billion yuan. Peking and Shanghai.
Research Reports Digging for Gold | Ping An Securities: Bullish on the stimulating effects of multiple overlapping policies for New energy Fund, recommending Chongqing Sokon Industry Group Stock and Ideal Autos.
On January 9, Gelonghui reported that Ping An Securities stated that regarding the notice issued by the National Development and Reform Commission and the Ministry of Finance on expanding the implementation of large-scale equipment updates and the old-for-new replacement policy for consumer goods in 2025, the coverage of scrapped subsidies for Passenger Vehicles is expected to increase by about 10 million vehicles compared to 2024. The firm suggested that the old-for-new policy for Autos in mainland China for 2025 is clearly defined early, which significantly extends the effective duration of the policy compared to 2024, and expands the implementation scope of subsidies, increasing the subsidy amount for New energy Fund buses. The firm also determines that the sales-boosting effect of the 2025 policy on Autos is stronger than that of 2024.
Express News | Contemporary Amperex Technology is suing Zhongxin Innovation and Xiaopeng Autos for patent infringement.
Soochow: The old-for-new policy is implemented, and the Passenger Vehicle market is expected to remain highly prosperous in 2025.
The implementation of the scrapping/replacement policy shortens the policy gap and improves the waiting mood for end consumers regarding purchasing a vehicle, which will positively contribute to the recovery of Passenger Vehicle demand in Q1 2025 and the overall Passenger Vehicle consumption in 2025.
Ping An Securities: The policy for replacing old Autos with new ones is clear, and the stimulating effect will exceed that of 2024.
The impact of policies on auto sales in 2025 will be stronger than in 2024, combined with the Electric Vehicles purchase tax policy, there is a bullish sentiment regarding the stimulating effects of multiple overlapping policies on Electric Vehicles.
Shenzhen has launched a new round of subsidies for replacing old Automobiles and home appliances with new ones.
The Shenzhen Municipal Bureau of Commerce announced that starting in 2025, a new round of Consumer subsidies for upgrading and replacing products will be implemented, covering home appliances, Automobiles, and electric bicycles, among others. This policy aims to promote the renewal of consumption and improve energy efficiency standards. The subsidy program will initially focus on home appliance products. According to regulations, consumers who purchase home appliance products that meet level 2 or higher energy efficiency standards will enjoy a subsidy of 15% of the sales price, while products with level 1 or higher energy efficiency will receive an additional 5% subsidy.
"Ming Pao" reports that Morgan Stanley expects that the automobile replacement subsidies in mainland China will significantly boost sales only in the next quarter, and that Volkswagen brands will have opportunities to capture demand growth.
Morgan Stanley released a Research Report stating that the mainland's automobile replacement and upgrade subsidy policy has been introduced. However, due to the fact that Consumer purchasing demand has already been satisfied by the end of last year, it is believed that the policy's Bullish effect on the first quarter of this year will thus weaken. The boosting effect is expected to emerge from the second quarter, along with the launch of more vehicle models around the Shanghai Auto Show in April, which may lead to a significant increase in automobile sales starting from the second quarter. Similar to last year, Morgan Stanley believes that mass market automobile brands may benefit more from this policy, while traditional brands with more sales channels in lower-tier cities will also benefit, among which Geely (00175.HK) and Great Wall Motor (0...
According to "The Action", Lyon: The replacement and update subsidy policy supports heavy trucks more than the Passenger Vehicle Industry.
Lyon issued a Research Report, predicting that authorities will soon announce the implementation details of the replacement subsidy policy. This is considered to be earlier than the market expected for the Automobile Industry, and the scope of the subsidy also exceeds market estimates, with the subsidy amount per vehicle being roughly the same as the 2024 policy. The previous view that the subsidy policy could bring about 28 million units of demand to this year's Passenger Vehicle market is still maintained. Lyon currently believes that the policy's support for the Heavy Truck Industry is higher than that for the Passenger Vehicle Industry, as the first quarter is traditionally the peak season for Commercial Vehicles and the off-season for Passenger Vehicles. As for Electric Vehicles, many 'new forces' had already...
Express News | Xiaopeng Autos: In December 2024, 161 self-operated stations will be launched in a single month, breaking the historical record for launch speed.