消息方面，在中国商务部长访欧之际，欧盟据报将推迟对中国进口电动车加征关税的投票。据相关报道，3名欧盟外交官表示，欧盟原定于9月25日举行的会议上进行投票，而这项议程目前已经取消。报道称，外交官们表示，这场会议的组织者没有说明取消投票的原因，目前也没有确定新的投票日期。①What positive news stimulates the rise of automotive stocks? ②How much does the policy of replacing old cars with new ones affect car sales?
September 20th, according to Caixin (Editor Hu Jiarong), benefiting from multiple positive news in the market, most automotive stocks strengthened today. Xpeng-W (09868.HK), Geely Auto (00175.HK), Li Auto-W (02015.HK), Leapmotor (09863.HK), Nio-SW (09866.HK) rose by 9.55%, 5.58%, 4.45%, 4.42%, 2.92% respectively.
Note: Performance of auto stocks.
On the news front, during the visit of Chinese Minister of Commerce to Europe, the European Union is reported to postpone the vote on imposing tariffs on Chinese imported electric cars. According to relevant reports, three European Union diplomats said that the vote, originally scheduled for September 25th, has been canceled. The diplomats stated that the organizers of the meeting did not explain the reason for canceling the vote, and no new voting date has been determined.
They speculate that the most likely date is September 30th. "Politico Europe" claimed that in order to vote, the European Commission needs to formally share the final results of its anti-subsidy investigation with national governments, but so far, the European Commission has not made any moves.
In addition to the EU postponing tariffs on Chinese imported electric cars, the China Automobile Dealers Association (CADA) released the retail data for the first two weeks of September. Specifically, from September 1 to 15, the retail sales of passenger vehicles reached 0.828 million units, an 18% increase compared to the same period last year, and a 12% increase compared to the previous month. The cumulative retail sales for the year so far reached 14.293 million units, a 3% increase year-on-year.
From September 1 to 15, the national passenger vehicle manufacturers wholesaled 0.868 million units, a 9% increase compared to the same period last year, and a 45% increase compared to the previous month. The cumulative wholesale for the year so far reached 16.808 million units, a 4% increase year-on-year.
The policy of replacing old cars with new ones is showing initial effects.
According to the data from the Ministry of Commerce on September 18, 2024, the Mid-Autumn Festival holiday witnessed various highlights in the national consumer market, with sufficient supply and stable prices of essential goods. The effectiveness of the policy of replacing old vehicles with new ones is evident, as the Ministry of Commerce's vehicle replacement information service platform has received subsidy applications for over 1.04 million cases, driving new car sales to approximately 130 billion yuan.
In response to this, institutions pointed out that under the driving force of national consumption policies and favorable promotional activities by automobile companies, the demand for car purchases continues to be released, new car models continue to be released, and the automotive market continues to be hot and perform well. The growth rate of new energy vehicle sales remains at a high level. With the continuous manifestation of various stimulus policies, car sales are expected to continue to rise, and annual sales are expected to reach a new historical high.