Zhitong
2024.04.03 02:35
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Hong Kong Stock Market News | Auto stocks generally weaken, Tesla's first-quarter delivery volume falls short of expectations, and a price war among car companies resumes in April

Automobile stocks are generally weak. As of the time of publication, XPeng Motors-W fell by 3.14% to HKD 29.35; Li Auto-W fell by 2.12% to HKD 121.2; Huachen China fell by 1.91% to HKD 6.67. On the news front, Tesla's first-quarter delivery volume fell short of expectations, dragging down the new energy vehicle stocks. Overnight, Tesla's US stocks fell by nearly 5%. Tesla's first-quarter delivery data for 2024 showed that the company produced a total of 433,400 electric vehicles globally in the first quarter of this year, with deliveries of 386,800 vehicles, both below Wall Street's expectations. In addition, a new round of price wars in April has begun in the new energy vehicle sector, with many mainstream car companies including XPeng and FAW-Volkswagen recently announcing new discount policies. The China Association of Automobile Manufacturers previously pointed out that the new round of price wars has once again caused consumers to adopt a wait-and-see attitude, further intensifying the wait for the implementation of the trade-in policy, which is not conducive to the full release of terminal demand in the short term

According to the Wise Finance APP, automobile stocks are generally weakening. As of the time of publication, XPeng Motors-W (09868) fell by 3.14% to HKD 29.35; Li Auto-W (02015) fell by 2.12% to HKD 121.2; and Brilliance China Automotive Holdings (01114) fell by 1.91% to HKD 6.67.

On the news front, Tesla's first-quarter delivery volume fell short of expectations, dragging down new energy vehicle stocks. Tesla's US stocks fell nearly 5% overnight. Tesla's first-quarter delivery data for 2024 showed that the company produced a total of 433,400 electric vehicles globally, with deliveries of 386,800 vehicles, both below Wall Street's expectations.

In addition, the price war for new energy vehicles in April has reignited, with many mainstream car companies including XPeng and FAW-Volkswagen recently announcing new discount policies. The China Association of Automobile Manufacturers previously pointed out that the new round of price wars has once again caused consumers to adopt a wait-and-see attitude, further intensifying the wait for the implementation of the trade-in policy, which is not conducive to the full release of terminal demand in the short term