According to Zhitong Finance APP, auto stocks rose in early trading, as of the time of reporting,$LEAPMOTOR (09863.HK)$up 6.13%, reported at 65.8 Hong Kong dollars;$LI AUTO-W (02015.HK)$up 3.71%, reported at 111.9 Hong Kong dollars;$XPENG-W (09868.HK)$up 3.81%, reported at 81.75 Hong Kong dollars;$BYD COMPANY (01211.HK)$Up by 2.48%, priced at 405.6 Hong Kong dollars;$NIO-SW (09866.HK)$Up by 2.4%, priced at 31.95 Hong Kong dollars.
According to news, data from the Passenger Vehicle Association shows that in April, retail sales of Electric Vehicles reached 0.905 million units, a year-on-year increase of 33.9%, but a month-on-month decline of 8.7%; cumulative retail sales from January to April reached 3.324 million units, a growth of 35.7%. In April, the retail penetration rate of Electric Vehicles in the domestic Passenger Vehicle market was 51.5%, an increase of 7 percentage points compared to the same period last year.
BOCOM INTL pointed out that the new car releases at this Shanghai Auto Show are moderate, with many of the autonomous new force brands launching mid-to-high-end models. Considering that the car market is gradually recovering under the policy of exchanging old for new in May 2024, and that this May's baseline is relatively high, the bank expects a relatively stable growth in the car market in May.
It is also worth mentioning that LEAPMOTOR's cumulative export sales from January to April 2025 exceeded 13,600 units, ranking first among new force brands in China.
BOCOM INTL stated that as the recognition of Chinese Energy brands continues to rise overseas and the export of plug-in hybrid vehicles remains strong, the bank expects the export of Electric Vehicles to maintain a high growth rate.
Editor/Lee
