Market Insight | XPENG-W drops more than 4%, leading the decline in auto stocks. The pace of June's new energy vehicle exports slowed down. Institutions say the industry is facing challenges in going global

Automobile stocks fell across the board today. As of the time of publication, XPENG-W dropped by 4.46% to HKD 31.05, GWMOTOR fell by 2.99% to HKD 10.4, and Li Auto-W decreased by 0.61% to HKD 73.3. GWMOTOR Securities pointed out that the number of automobile exports in China started to rise in March this year, but declined in June. In May 2024, the volume of automobile exports was 570,000 units, which dropped to 490,000 units in June, a month-on-month decrease of 14.0% and a year-on-year increase of 19.5%. The export amount of automobiles also decreased, with the export amount in June reaching approximately 62.05 billion RMB, a month-on-month decrease of 17.1% and a year-on-year increase of 14.1%. The bank stated that the "campification" of the United States and Europe is driving other countries to exclude and block, continuously squeezing the development space of China's new energy vehicles and lithium battery companies. In the long run, this will pose high challenges and requirements for the overall industry's overseas development. Therefore, it is recommended to focus on the specific implementation of relevant policies and concentrate on benchmark companies with the potential to establish overseas factories and deep strategic cooperation with international capital