The Zhitong Finance App learned that auto stocks generally rose. As of press release, Ideal Automobile-W (02015) rose 4.15% to HK$81.5; NIO - SW (09866) rose 2.81% to HK$38.4; Xiaopeng Automobile-W (09868) rose 2.04% to HK$32.45; and Great Wall Motor (02333) rose 1.31% to HK$13.96.

According to the news, according to the Passenger Federation, passenger cars retailed 90,000 units from May 1 to 19, down 5% year on year, and wholesale 845,000 units, up 3% year on year; retail sales of new energy vehicles were 412,000 units, up 26% year on year, and 430,000 units were wholesale, up 37% year on year. The Passenger Federation expects retail sales of 1.65 million passenger cars in the narrow sense of the word in May, -5% year-on-year, and 770,000 new energy vehicles, an increase of 33% over the previous year, with a penetration rate of 46.7%.

Southwest Securities pointed out that with the implementation of the national “trade-in” policy and the introduction and follow-up of corresponding policies and measures in various regions, it is beneficial to the gradual strengthening of the car market. On May 15, the General Office of the Ministry of Industry and Information Technology and others issued the “Notice of the Five Departments Concerning Launching 2024 NEV to the Countryside Campaign”, announcing the 2024 NEV rural activity models. Driven by trade-in policies and NEVs going to rural areas, the penetration rate of new energy passenger vehicles is expected to continue to increase.