《大行報告》交銀國際:蔚來9月銷量大幅度回落 理想及小鵬交付維持穩健
交銀國際發表報告指,根據乘聯會數據,9月1至24日,乘用車市場零售125.6萬輛,按年增長13%,按月增長6%。其中,新能源車市場零售50.8萬輛,按年增長33%,按月增長11%。地方政府陸續開展新一輪短時補貼,部分車企為扭轉被動趨勢,主動調整價格和營銷策略,預計應對「金九銀十」構成穩定支撐。
該行指,蔚來(09866.HK)(NIO.US)9月交付量1.56萬輛,連續兩個月按月下跌,相信主要是由於前幾個月取消免費換電權益以及一系列的優惠政策透支需求。該行在之前的報告也提到對蔚來銷量的可持續性相對悲觀。當訂單量基本消化完後,銷量自然會有著明顯的下滑。因此第4季交付量壓力較大。至於理想(02015.HK)(LI.US)和小鵬(09868.HK)(XPEV.US)9月交付量維持穩健,按月改善。
該行相對看好有供應鏈優勢的整車廠。汽車板塊中,看好比亞迪(01211.HK)和理想。
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