Preliminary data from the China Passenger Car Association showed that in September, national passenger vehicle retail sales reached 1.702 million units, down 24% year-on-year but up 10% month-on-month. Among them, new energy vehicle retail sales reached 1.141 million units, down 12% year-on-year but up 14% month-on-month. The data also showed that in September, the retail penetration rate of new energy vehicles in the national passenger vehicle market was 67.1%; the wholesale penetration rate of new energy vehicles was 66.1%.
In addition, the EU and China have finally reached an agreement on hybrid vehicle exports. China will limit the number of vehicles exported to the EU to avoid punitive tariffs from the EU. The EU expects that the number of hybrid vehicles exported from China will be reduced by more than half. According to a planning document within the EU cited by Bloomberg, restrictions on Chinese hybrid vehicle imports could take effect as early as December 1. The import quota will be 350,000 units in the first year, increasing by 6% annually from the second year onwards, and the measure will be implemented for four years.
Currently, the Hang Seng Index stands at 24,248, up 37 points or 0.2%, with turnover of nearly HK$114 billion on the main board. The Hang Seng China Enterprises Index stands at 8,162, up 14 points or 0.2%. The Hang Seng Tech Index stands at 4,166, down 30 points or 0.7%.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| Geely Automobile (00175) | 15.07 | Down 0.4% |
| BYD (01211) | 74 | Down 2.12% |
| XPeng Inc. (09868) | 38.26 | Down 0.21% |
| NIO (09866) | 27.1 | No change |
| Leapmotor (09863) | 36.3 | Up 4.31% |
| Li Auto (02015) | 44.76 | Up 0.22% |
| Chery Automobile (09973) | 23.72 | Up 0.25% |
| Great Wall Motor (02333) | 7.115 | Down 0.91% |
| Guangzhou Automobile Group (02238) | 2.2 | Down 1.35% |
| Brilliance China (01114) | 1.8 | Up 1.69% |
