The Zhitong Finance App learned that auto stocks continued to decline. As of press release, Xiaopeng Group-W (09868) fell 4.33% to HK$35.38; Ideal Automobile-W (02015) fell 4.32% to HK$43.84; and Great Wall Motor (02333) fell 2.86% to HK$6.625.
According to the news, data from the China Automobile Dealers Association shows that from October 1 to 18, the national passenger car market retailed 789,000 vehicles, down 26% from the same period in October last year; manufacturers wholesale 853,000 vehicles, down 20% year on year. Retail sales of new energy vehicles were 520,000 units, down 13% year on year. “Golden Nine” is just as weak. The inventory warning index for car dealers in September was 63.2%, continuously above the boom and bust line. 54.2% of dealers believed that the peak season effect was significantly weaker than in previous years.
Zhongyuan Securities released a research report saying that in September, the automobile industry showed an operating pattern of “domestic demand under pressure, high external demand growth, channel accumulation, and structural differentiation.” There was a marked seasonal recovery in domestic demand, but the year-on-year decline was further expanded compared to August, and domestic demand was still weak under the high base and wait-and-see sentiment suppressed during the same period last year. In terms of exports, it has been stable at more than one million vehicles for four consecutive months. Among them, the share of new energy exports has increased to 54.2%, and going overseas is still the strongest engine in the industry. On the channel side, the inventory coefficient of car dealers rose to 1.68 in September, a high for the same period in recent years, reflecting the intensification of the contradiction between car companies' peak season storage and poor terminal digestion.