Shenglan Co., Ltd. (300843.SZ): Established stable cooperative relationships with companies such as BYD, Great Wall Motor, SAIC Wuling, and Guangzhou Automobile Group
Gelonghui May 13 丨 Shenglan Co., Ltd. (300843.SZ) held a performance briefing on May 13, 2024 to discuss “Which customers does the company have in the field of new energy vehicles?” The company replied that it has established stable cooperative relationships with companies such as BYD, Great Wall Motor, SAIC Wuling, and Guangzhou Automobile Group.
Chinese-Brand Passenger Vehicle Sales Rise 27% in January-April Period
Chinese passenger sales for the first four months hit 4.66 million vehicles, a nearly 27% increase from the prior-year period to 4.66 million units, Xinhua News Agency reported Sunday, citing data from the China Association of Automobile Manufacturers.
GWM's Overseas Sales to Rise 60% in 2024
Great Wall Motor, China's largest SUV maker, said it expects to scale up its overseas sales this year to 500,000 units, which would mark a 59.23 percent rise year-on-year.
Hong Kong's Hang Seng Index closed up 0.8%, and the Hang Seng Technology Index rose 1.42%. Shimao Group rose more than 9%, Bilibili rose more than 6%, and Great Wall Motor rose nearly 6%, Alibaba rose more than 4%; Zero Sports Auto and Dongfang Selection
Hong Kong's Hang Seng Index closed up 0.8%, and the Hang Seng Technology Index rose 1.42%. Shimao Group rose more than 9%, Bilibili rose more than 6%, and Great Wall Motor rose nearly 6%, Alibaba rose more than 4%; Zero Sports Auto and Dongfang Selection fell more than 4%.
Sales differentiation among NEV companies intensified in April: Cyrus surged 700% year on year, Tesla fell month-on-month
① Geely and Changan both showed significant year-on-year growth. The former had a year-on-year increase of 76.3%, and the latter doubled; ② Cyrus had a particularly significant year-on-year increase of 725.7%; ③ Tesla's retail sales volume in April was 31,421 vehicles, down 21.4% year on year, down 21.4% year on month; ④ The most obvious year-on-year decline was GAC Aian, which fell 36.3% year on year to 26,109 vehicles.
Express News | China Automobile Association Responds to New US Tariffs on Chinese Electric Vehicles: Typical Trade Protectionism
Changes in Hong Kong stocks | Great Wall Motor (02333) bucked the trend and rose more than 7%. The company's performance in the first quarter was high, and many new cars were launched, which may drive a rapid recovery in brand sales
The Zhitong Finance App learned that Great Wall Motor (02333) bucked the trend and rose nearly 7%. As of press release, it had risen 6.56% to HK$13.32, with a turnover of HK$215 million. According to the news, in the first quarter of this year, the company achieved operating income of 42.86 billion yuan (same below), an increase of 47.6% over the previous year; net profit attributable to shareholders recorded 3.23 billion yuan, setting the highest profit record for the company in the first quarter. In addition, the company sold 95,000 units in April, up 1.8% year on year; cumulative sales volume from January to April was 370,000 units, up 18% year on year. Guoxin Securities (Hong Kong) estimates the company's revenue in 2024
Direct impact of changes | Auto stocks collectively declined, passenger car retail sales declined in April, and the US plans to impose quadruple tariffs on Chinese electric vehicles
Auto stocks declined collectively. As of press release, Xiaopeng Automobile-W (09868) fell 5.01% to HK$30.35; Ideal Automobile-W (02015) fell 1.71% to HK$103.7; and Great Wall Motor (02333) fell 0.48% to HK$12.44.
崔东树:全国乘用车市场价格段销量结构走势持续上行
5月12日,崔东树发布乘用车价格段市场结构分析。
Cui Dongshu: Auto market retail sales basically got off to a good start in the first quarter of 2024
The Zhitong Finance App learned that recently, Cui Dongshu released an analysis of the operating characteristics of the national passenger car market in April. Auto market retail sales in the first quarter of 2024 basically achieved the expected good start. Although April had 22 working days, two more days than the previous year, there was a strong wait-and-see atmosphere among consumers due to price instability and other factors, and passenger car retail sales showed a cyclical month-on-month downward trend in April. The price war for new energy vehicles has brought about a certain increase, but it is not very sustainable, and internal segmentation is serious. With the introduction and gradual implementation of trade-in and end-of-life renewal policies, the Ministry of Commerce organized and carried out national automobile trade-in promotions, automobile manufacturers and sales
China Sells 850,000 NEVs in Apr, Down 3.7% From Mar, CAAM Data Show
Excluding exports, domestic NEV sales in April were 736,000 units, up 37.31 percent year-on-year but down 2.9 percent from March.
Sudden drop! Can't cars be sold in April?
On May 10, the National Passenger Vehicle Market Information Association (hereinafter referred to as the “Passenger Federation”) released data.
Cui Dongshu: Passenger car retail experienced a cyclical month-on-month decline in April
The passenger car market's retail performance in the first quarter of 2024 was strong, mainly due to base factors. Growth was weak in April, and there is still potential for a return to better growth in the future.
In April, sales volume was 2.36 million vehicles, and nearly 60% of A/H listed car companies declined month-on-month, and their own brands anchored overseas markets
① “Passenger car retail sales showed a cyclical month-on-month downward trend in April due to factors such as price instability. The new vehicle price war for new energy vehicles has brought about a certain increase, but it is not very sustainable and there is serious internal segmentation.” Cui Dongshu, Secretary General of the Passenger Federation, said in an analysis. ② Judging from SAIC Motor Group and GAC's “double decline”, the poor sales volume of fuel vehicles under the joint venture brand is the main reason for their current situation.
China Automobile Association: Automobile production and sales completed 2.406 million units and 2.359 million vehicles respectively in April, up 12.8% and 9.3% year-on-year, respectively
In April, automobile production and sales completed 2.406 million units and 2.359 million units, respectively, down 10.5% and 12.5% from the previous month.
Express News | China Automobile Association: Sales volume of new energy vehicles in April 2024 was 850,000 units, up 33.5% year on year
Express News | China Automobile Association: Domestic passenger car sales in April were 1.572 million units, down 13.2% from month to month, up 5.1% year on year
Express News | China Automobile Association: Automobile sales volume in April 2024 was 2.359 million units, up 9.3% year on year
Express News | It is expected to exceed 4.6 million units, and the market share of Chinese brands for passenger cars is expected to reach 60%
Xiaomi won the April car market traffic
The discount rate in the automobile market has reached a new high, yet inventory pressure has not decreased.
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