Car dealers/auto retailers opened higher in the morning. As of the time of publication, Zhongsheng Hldg (00881) rose 4.25% to HKD 9.33; Meidong Auto (01268) rose 3.57% to HKD 1.74; Yongda Auto (03669) rose 3.15% to HKD 1.31.
Car dealers/auto retailers opened higher in the morning. As of the time of publication, Zhongsheng Hldg (00881) rose 4.25% to HKD 9.33; Meidong Auto (01268) rose 3.57% to HKD 1.74; Yongda Auto (03669) rose 3.15% to HKD 1.31.
In recent days, the China Automobile Dealers Association released the "Automobile Dealer Inventory" survey results for August 2024. The comprehensive inventory coefficient of automobile dealers in August was 1.16, a decrease of 22.7% compared to the previous month and a decrease of 24.7% year-on-year. The inventory level is below the warning line. The China Automobile Dealers Association pointed out that the decline in dealer inventory in August is due to not only policy incentives and the promotion of car companies, but also the serious and sustained price inversion, which puts pressure on the dealer's capital chain. Banks and auto finance companies have tightened credit, further restricting the dealer's delivery capacity. In addition, the shrinking profit margin of new cars has prompted dealers to proactively adjust strategies, reduce the number of new car deliveries to lower losses, and ensure stable operation.