HK Stock Market Move | Car stocks collectively fell, with the wholesale growth of the top three new energy vehicles weaker than retail in the first three weeks. Institutions pointed out the need to be cautious of weakening exports.

Car stocks collectively fell, as of the time of writing, BAIC MOTOR(01958) fell by 7.95% to 1.39 Hong Kong dollars; Great Wall Motor(02333) fell by 4.5% to 11.89 Hong Kong dollars; LI AUTO-W(02015) fell by 4.16% to 66.8 Hong Kong dollars; Xiaopeng Auto-W(09868) fell by 3.89% to 61.7 Hong Kong dollars. On the news front, data shows that from April 1-19, the national retail sales of new energy passenger vehicles totaled 387,000 units, a 14% year-on-year decrease from the same period in April last year, and a 5% decrease from the previous month; From April 1-19, the national wholesale sales of new energy passenger vehicles by manufacturers totaled 413,000 units, a 17% year-on-year decrease from the same period in April last year, and a 9% decrease from the previous month. Guoyuan released a research report stating that the overall passenger car market is still in a year-on-year decline phase. However, it is worth noting that in the first three weeks of April, the retail sales volume of new energy vehicles is close to the wholesale sales volume, and the year-on-year decline in wholesale is slightly greater than the year-on-year decline in retail. This is mainly due to the export volume in the difference between wholesale and retail. There may be a possibility that in the first three weeks of April, the export of new energy passenger vehicles is weaker than before.