Chinese auto stocks are more than good but the off-season is coming

Source: Internet
Author: User
Keywords Momentum all year same period
Benefiting from the steady growth of car sales, Chinese auto stocks were mostly built this morning; BYD (01211-HK) rose 3.45%; Dongfeng Group (00489-HK) is up nearly 3%, brilliance China (01114-HK), China Heavy Truck (03808-HK) and Geely Automobile (00175-HK ) also rose more than 2% in sync, while Great Wall Motor (02333-HK) rose 1.13%, and June-Wei Auto (00203-hk) rose 0.28%.  Qing-Ring car (01122-HK) a small 0.67% lower. According to the latest statistics of the China Automobile Industry Association, China's May domestic auto production and sales were again more than 1.1 million vehicles, driven by the revitalization plan of the auto industry. Car sales increased by 34% to 1.12 million vehicles in May over a year earlier, a third consecutive month, with growth accelerating further than 14.1% in April. Passenger car sales rose 46.8% to 829,100 vehicles in the same period a year earlier, and commercial vehicle sales grew by 7.3% to 290,600 vehicles.  A market review said, according to the current momentum of development, this year's car sales can easily reach 10 million vehicles, the annual car sales to achieve growth is no problem. But Daiwa issued a report saying the neutral rating for Chinese car stocks. The two main concerns about the Chinese auto market entering the off-season of traditional summer sales are that earnings may not be as upbeat as sales, and that strong sales can last until the second half of the year, as the car markets are largely underpinned by low-margin small cars. Further, before more positive news, the car shares are unlikely to expand significantly, suggesting that stocks have limited gains.
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