Thanks to the positive impact of sales data from new energy brands in June and the first half of the year, most Hong Kong automotive stocks rose. As of the time of publication, Ideal Auto W (02015. HK), Xiaopeng Auto W (09868. HK), NIO SW (09866. HK), and Zero Run Auto (09863. HK) have risen by 7.47%, 4.23%, 3.52%, and 0.93% respectively.
Note: Performance of automotive stocks
In terms of news, new forces in the automotive industry have announced their delivery results for June and the first half of the year. Specifically, Ideal Automobile, NIO Automobile, Zero Run Automobile, and Xiaopeng Automobile all continued their overall positive trend in May.
Taking Ideal Automobile as an example, the company delivered 47800 new cars in June, a year-on-year increase of 46.7%; 108600 vehicles were delivered in the second quarter, a year-on-year increase of 25.5%.
Note: Announcement of Ideal Automobile
Taking NIO as an example, the company delivered 21200 cars in June, a year-on-year increase of 98.1%. In the second quarter, 57400 cars were delivered, a year-on-year increase of 143.9%.
Note: NIO's announcement
Taking Zero Run Automobile as an example, the company delivered 20116 units in June, breaking a historical record and reaching the threshold of "20000 clubs" for the first time.
Note: Sales of Zero Run Motors in June
Taking Xiaopeng Automobile as an example, the company delivered 10600 units in June, a year-on-year increase of 24% and a month on month increase of 5%; In the first half of 2024, 5.2 units were delivered, a year-on-year increase of 26%.
Note: Sales of Xiaopeng Motors in June
Institutions predict that the global electric vehicle market will grow by 20% year-on-year in 2024
Despite the recent impact of overseas markets on emerging domestic electric vehicle brands, Dongwu Securities has made optimistic predictions in its latest research report that the global electric vehicle market will grow by 20% year-on-year in 2024, and the demand for lithium batteries is expected to increase by 25-30% year-on-year. The report emphasizes that the Chinese market remains the most predictable growth point, and it is expected that overseas market demand will significantly accelerate by 2025.
The report further analyzes the strong domestic demand in the Chinese market, which is expected to benefit from the delivery of new models. Domestic sales (including exports) are expected to increase by 25% year-on-year in 2024, reaching 11.8 million vehicles, slightly higher than the forecast at the beginning of the year. By 2025, it is expected that sales will maintain a growth of nearly 20%, reaching 14 million vehicles.
In the European market, it is expected that sales will slightly increase by 5% year-on-year in 2024, reaching 3 million vehicles, due to the impact of subsidy policies. However, with the launch of new car models and stricter carbon emission assessment policies, it is expected that the year-on-year growth rate of sales will rebound to 15% by 2025, reaching nearly 3.5 million vehicles.
As for the US market, in the short term, due to high interest rates and delays in the launch of new models by local automotive companies, it is expected that the growth rate in 2024 will be reduced to 25%, with sales of 1.75 million vehicles. But the report suggests that with the introduction of China's supply chain, the growth rate of the US market is expected to accelerate.