《大行報告》大摩:宏觀環境嚴峻 減購置稅對汽車業貢獻存不確定
摩根士丹利發表研究報告指,內地當局計劃階段性下調部分乘用車購置稅,涉及600億元人民幣,爲支持經濟的稅收減免措施,雖然措施細節尚未出臺,但仍預期市場反應將爲正面。
不過該行指出,在目前嚴峻的宏觀背景下,政策對汽車行業的貢獻仍存在不確定性,相信長城汽車(02333.HK)、吉利(00175.HK)等本地品牌的內燃引擎車(ICEV)可從中受惠。
大摩指,中國過去三年汽車購置稅收入總額爲約3,500億元人民幣,而是次政策放寬相信是一項針對性的刺激措施,而並非全面減稅,估計市場需求更高的中低端車型將爲幫扶重點。
大摩解釋,由於內地當局對新能源汽車購置稅已設有免徵10%的措施,預期進一步降低購置稅可爲傳統車型提供額外增長動力,雖然新能源汽車仍是汽車行業轉型的長期戰略重點,但提高傳統汽車銷量亦可提振行業盈利能力、就業及稅收。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.