Market Analysis | Auto stocks collectively decline, XPENG-W drops 9%, LI AUTO-W falls over 5%
Automobile stocks collectively declined. As of the time of publication, XPeng-W fell by 9% to HKD 50.05; LI AUTO-W fell by 5.6% to HKD 114.7; GWMOTOR dropped by 3.54% to HKD 15.28. In terms of news, according to Tesla, in the third quarter of 2024, Tesla globally produced approximately 470,000 electric vehicles and delivered about 463,000 electric vehicles. Tesla's third-quarter delivery volume was lower than expected due to incentive measures and low-cost financing failing to boost demand for its older models in a fiercely competitive market. Tesla's stock price plummeted by over 6% overnight. It is worth mentioning that domestic new energy vehicle companies in China have successively released their September new car delivery data, with many companies achieving record-high delivery volumes
According to the Zhitong Finance and Economics APP, automobile stocks collectively declined. As of the time of publication, XPeng-W (09868) fell by 9% to HKD 50.05, Li Auto-W (02015) fell by 5.6% to HKD 114.7, and Great Wall Motor (02333) fell by 3.54% to HKD 15.28.
On the news front, according to Tesla's announcement, in the third quarter of 2024, Tesla globally produced approximately 470,000 electric vehicles and delivered about 463,000 electric vehicles. Tesla's third-quarter delivery volume was lower than expected due to incentive measures and low-cost financing failing to boost demand for its older models in the fiercely competitive market. Tesla's stock price plummeted by over 6% overnight. It is worth mentioning that domestic new energy vehicle companies in China have successively released their new car delivery data for September, with many companies achieving record-high delivery volumes