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