Auto stocks had the highest gains in early trading. As of press release, NIO SW (09866) rose 6.44% to HK$42.95; Zero Sports Auto (09863) rose 5.82% to HK$30.9; Xiaopeng Motor-W (09868) rose 5.04% to HK$32.3; and Great Wall Motor (02333) rose 3.47% to HK$13.7.
The Zhitong Finance App learned that auto stocks had the highest increase in early trading. As of press release, NIO SW (09866) rose 6.44% to HK$42.95; Zero Sports (09863) rose 5.82% to HK$30.9; Xiaopeng Motor-W (09868) rose 5.04% to HK$32.3; and Great Wall Motor (02333) rose 3.47% to HK$13.7.
According to the news, according to the latest data released by the Passenger Transport Federation, in April, the national passenger car market retailed 1,532 million vehicles, down 5.7% year on year and 9.4% month on month. However, there is still no shortage of bright spots in the market. In April, the country produced 1.888 million passenger cars, 18,000 units higher than the historical high in 2018, a record high. In April, the domestic retail penetration rate of new energy vehicles was 43.7%, up 11.7 percentage points from the 32% penetration rate in the same period last year.
According to Caixin Securities, 7 departments including the Ministry of Commerce and the Ministry of Finance jointly issued the “Automobile Trade-In Subsidies Implementation Rules”, which are expected to greatly boost automobile sales in 2024, along with policies such as NEV purchase tax relief, financial credit support for car purchases, and supporting concessions for enterprises.