In the second half of the year, car companies’ profits exceeded expectations

In August, the growth rate of automobile production and sales doubled by 10%, the production and sales volume exceeded expectations, and the price was stable. The “golden nine silver and ten silver” season is expected to come. The car company's profits will still exceed expectations in the second half of the year.

According to the data, in August, the production of automobiles was 1.8772 million units, a year-on-year increase of 5.92%, an increase of 11.7% year-on-year; sales of 1.648 million units, an increase of 8.74% from the previous period and a year-on-year increase of 10.28%.

According to Hou Yanjun, head of UBS Securities China Research and director of Asia-Pacific automotive industry research, the reason for the relatively strong car sales is that the overall macroeconomic environment this year is very stable, which will help stimulate the purchase of cars. At the same time, discount promotions in the first half of the year are the key points. Starting in August, promotions have significantly weakened, indicating that the supply relationship has undergone certain changes. In addition, the history of September is the peak period for the launch of new cars, and new cars are more natural to stimulate consumption. Therefore, the automobile market is relatively optimistic in the second half of the year. The “golden nine silver ten” season is expected to come. The car companies' profits will exceed expectations.

Liu Yuanrui, an analyst at Changjiang Securities Automobiles and Auto Parts Industry, also believes that in August, passenger vehicles maintained a good operating condition, the inventory was stable, the sales were in a healthy state, and the terminal preferences were stable, which further indicated that the demand was stable, and the follow-up season was more worth looking forward to. Monthly market sales performance. He believes that this year's market demand is prosperous. After eliminating the short-term factors that suppress long-term high-temperature weather in August, the higher sales performance and year-on-year growth rate are expected in September.

Analyst Yang Huachao of the Galaxy Securities automobile industry also believes that after mid-August, the temperature will drop and the schooling tide will come to a close. The demand for car purchases and car exchanges is expected to be released, and the market will enter the warming period of the “Golden 9 Silver 10” market peak. However, dealer stocks in August were still at a high level, showing an upward trend compared with the previous month. Coupled with the implementation of the auto three pack policy on October 1, most consumers were waiting to see a strong mood. As a result, the sales force of dealers in September must continue to increase.

However, Dong Hong Securities automotive industry analyst Zhang Honglei believes that in the second half of the year, the passenger car industry expects sales growth will be stable compared to the first half, the income growth rate may decline slightly, while the net profit growth may continue to increase significantly . From a more long-term perspective, on the basis of a higher base this year, the continued growth in the next year will face greater pressure.