HK Stock Market Move | Car stocks rebounded in early trading, with April car exports reaching a record high for a single month, and the penetration rate of new energy vehicles continuing to hit new highs.

In the morning, auto stocks rebounded. As of the release of this article, Chongqing Sokon Industry Group Stock (09927) rose by 7.86% to 72.05 Hong Kong dollars; XPeng Motors-W (09868) rose by 7.42% to 62.25 Hong Kong dollars; VOYAH AUTO (07489) rose by 3.47% to 5.96 Hong Kong dollars; LI AUTO-W (02015) rose by 2.35% to 63.05 Hong Kong dollars. On the news side, in April, automobile exports reached a new monthly high with exports of 902,000 units, an increase of +3.0% month-on-month and +74.4% year-on-year. In April, the production and sales of new energy vehicles reached 1.32 million units and 1.344 million units respectively, with year-on-year increases of +5.5% and +9.7%, and the penetration rate of new energy vehicles reaching 53.2%, a new monthly high with an increase of 10 percentage points compared to the previous month. Huachuang Securities pointed out that the performance of exports in the first four months, especially the exports of electric vehicles, continued to exceed expectations and repeatedly hit new highs. The reason behind this is that the growth in overseas sales this year is not linear. Looking ahead, the possibility of exports continuing to exceed expectations remains high, with an expected total export sales of 8.6 million units for the year. Considering the low base in the second half of last year, the industry's retail growth rate is expected to turn positive in the second half of this year, but later and lower than previously expected. Overall, wholesale sales in 2026 are expected to increase by +1.0% year-on-year.