Hong Kong Stock Market News | XPENG-W Surges Over 6%, Leading the Automotive Stocks. Market Demand for the Automotive Industry in the Fourth Quarter is Expected to Continue Growing.
Most of the automotive stocks are rising. As of the time of writing, XPeng Motors-W is up 6.21% at HKD 72.8, while NIO-SW is up 4.45% at HKD 62.25.
Zhitong App learned that most automotive stocks are on the rise. As of the time of writing, XPENG-W(09868) has increased by 6.21% to HKD 72.8; NIO-SW(09866) has increased by 4.45% to HKD 62.25; LI AUTO-W(02015) has increased by 2.36% to HKD 164.7; LEAPMOTOR (09863) has increased by 2.12% to HKD 36.2.
In terms of news, according to the official Weibo account of Tesla China, starting from today, the price of the Model Y Long Range version has been increased by CNY 2,000 to CNY 304,400. This is the fourth price increase for Tesla models in recent times. This news is expected to alleviate concerns about a price war in the year-end car market.
In addition, data from the China Association of Automobile Manufacturers shows that China's automobile production and sales volume reached 24.016 million and 23.967 million units respectively in the first 10 months of the year, with year-on-year growth of 8% and 9.1% respectively. The production and sales volume of automobiles have maintained steady growth. Experts believe that with the continuous manifestation of the effects of the national policy to stabilize economic growth, as well as measures such as local car purchase subsidies and promotional activities, and the year-end "tail-raising" effect, the demand in the automotive industry market is expected to continue to grow in the fourth quarter, and it is expected to achieve the annual target satisfactorily.