《大行報告》麥格理:刺激政策對小型汽車市場幫助最大 長汽(02333.HK)、吉利(00175.HK)、比亞迪(01211.HK)及寧德時代(300750.SZ)受惠
麥格理發表研究報告指出,市傳汽車下鄉政策有望於6月初出台,售價15萬元人民幣(下同)以內的汽車(包括燃油車及新能源車),每輛資助3,000至5,000元。事實上,工信部及國務院於今年2至4月曾多次提及「汽車下鄉」,該行相信有關潛在政策正在討論中,並將於疫情回復正常時出台。
該行提及,鑑於內地政府於2008至2010年、2014至2016年,及2020至2021年推行的汽車刺激政策相當有效,相信今次推出的刺激政策下,汽車需求將更好,對小型汽車市場幫助最大。而小型汽車市場佔中國汽車市場的46%,其電動車滲透率於去年僅為7.8%,較整體市場平均的13.8%為低。
麥格理認為,長汽(02333.HK)、吉利(00175.HK)、比亞迪(01211.HK)及寧德時代(300750.SZ)可受惠汽車刺激政策,當中長汽及吉利於燃油車小型汽車市場有較高的份額,至於比亞迪更是內地小型汽車電動車市場的市佔率最高。而寧德時代亦可受惠,因公司為吉利及長汽的主要電池供應商。
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