Market Insight | LI AUTO-W Surges Over 5%, Leading the Auto Stocks with the Expansion of Subsidies for Trade-Ins, Expected to Boost Auto Sales in the Second Half of the Year
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Auto stocks performed strongly in the morning session, with Li Auto-W up 4.96%, Nio-SW up 3.12%, XPeng-W up 2.82%, and BYD Company Limited up 1.91%. The new subsidy policy issued by the Ministry of Commerce and others will increase the subsidy for new energy passenger vehicles to 20,000 yuan, and for the first time include replacement and renewal in the subsidy scope. Caixin Securities predicts that auto sales in the second half of the year will further increase due to increased subsidies and various policy support, with significant benefits for domestic brand car companies
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