Gelonghui September 18The automobile industry chain broke out.Demaise, Vico Precision, Bojun Technology, Chuanhuan Technology, Weidi shares, Mingke Seiko, Kehua Holdings, Cyrus, Huaguang shares, Huayang Group rose sharply.
Guangfa fund car ETF, Cathay Pacific fund car ETF rose more than 2%, Jianxin fund new energy vehicle battery ETF, Cathay Pacific fund smart car ETF, Wells Fargo fund smart car ETF, Huatai Perry fund smart driving ETF, Jianxin fund smart tram ETF, ICBC Credit Suisse fund lithium battery ETF, Jingshun Great Wall fund battery 30ETF, easy Fonda fund smart car 50ETF rose.
On the news side, with the new M7, Changan Qiyuan A07, Tesla, Inc. modified 3, Galaxy L6, Chery more new models and other new models on the market, strong supply is expected to stimulate terminal consumption in October.
Driven by the national consumption promotion policy and preferential promotions of automobile enterprises, the auto market is not weak in the off-season in August, and auto production and sales continue to recover, with an increase compared with the previous month.
In August, passenger car sales were 2.273 million, + 6.9% year-on-year and + 8.2% month-on-month. From January to August, passenger car sales totaled 15.643 million, a total of + 6.7% over the same period last year. Domestic sales of passenger cars in August were 1.924 million, year-on-year + 3.2%, month-on-month + 8.5%, of which traditional fuel passenger cars sold 1.205 million,-7.9%, + 7%, January-August, and passenger cars sold 13.188 million,-0.2% year-on-year. The export sales of passenger cars in August were 349000, compared with the same period last year, which was + 34.2% and + 7% respectively. From January to August, the export sales of passenger cars were 2.455 million, which was + 69.8% compared with the same period last year.
In August 2023, sales of new energy vehicles reached 846000, with year-on-year sales of + 27.0%, month-on-month + 8.5%, and new energy penetration reached 32.8%. From January to August, the production and sales of new energy vehicles completed 5.434 million and 5.374 million respectively, an increase of 36.9% and 39.2% respectively over the same period last year. From January to August 2023, the total sales of the top 10 enterprise groups in car sales were 15.449 million, an increase of 5.2 per cent over the same period last year, accounting for 84.8 per cent of total car sales. Among them, car sales of BYD, Chery and Geely grew faster from January to August compared with the same period last year, with year-on-year growth of + 82.1%, + 42.3% and + 20.3%, respectively.
In August 2023, 408000 cars were exported, which was + 32.1% and + 3.9% compared with the same period last year.
In terms of vehicle types, passenger vehicles exported 349000, year-on-year + 34.2%, month-on-month + 7%, commercial vehicle exports 59000, year-on-year + 21.4%, month-on-month-11.2%. From January to August, 2.941 million cars were exported, + 61.9% from the same period last year. In August, among the top 10 vehicle exports, SAIC exported 96000 vehicles, + 5.2% last year, accounting for 23.5% of the total export volume, while Chery exported 87000 vehicles, accounting for 21.3% of the total export volume, driving export sales growth.
In September, NIO Inc. EC6, BYD Yuan Plus Champion Edition, Qiyuan AO7, Menjie New M7, Lectra 08, Galaxy L6, look up to UB Deluxe Edition on the market.
Since the beginning of this year, with regard to the frequent promotion of intelligent network automobile policies, Shanghai, Shenzhen, Suzhou and other places have rapidly promoted the construction of intelligent network vehicle test and demonstration roads and intelligent highways that support vehicle-road cooperation, which is conducive to promoting the collection and testing of intelligent driving road condition information by intelligent car main engine factories and related spare parts suppliers, and speeding up the research and development process of high-level intelligent driving.
Everbright Securities believes that the competition in the industry is still fierce (some auto companies have enlarged their rights and interests and cut prices again since August), focusing on the aggregate policy and the degree and sustainability of the recovery of industry demand. Be optimistic about the new power car companies with strong vehicle improvement cycle and differentiated positioning competition in 2023, independent new energy vehicle companies with strong cost control ability of export + industrial chain + strong sales and performance cashing ability, and parts companies with rising market share / new fixed-point release + strong annual decline digestion + business diversification. Continue to value the related investment opportunities of intelligent + Tesla, Inc. industrial chain (robot + integrated die casting).
Waiting for Jinjiu Silver Ten & City NOA landing catalysis plate market:
1. Strong supply stimulus is accelerating, terminal consumption is expected to continue to improve, it is expected that 2023Q4 electrification and L2 + permeability will accelerate uplink again, automotive plate boom resonance upward, based on the recovery period to confirm the plate valuation repair as the main feature of the configuration opportunity, the current time point is bullish on vehicle valuation repair.
two。 The introduction of purchase tax relief policies and local car purchase subsidy policies to stimulate car consumption, self-driving related policies are expected to accelerate the landing, superimposing the recent intensive landing of new cars with NOA functions to catalyze self-driving, and firmly value more auto parts with electric intelligent attributes.