Increase in car sales in August exceeded expectations and boosted auto stocks

Affected by the increase in car sales in August, the auto stocks have chosen to storm upwards yesterday after a series of consecutive adjustments. Analysts believe that because the valuation is at a relatively reasonable level, and with the momentum of steady growth in automobile performance in the second half of the year, some auto stocks with little gain in the previous period may have certain investment opportunities.

After three months of declining sales, car sales for the first time in August showed a sequential increase. China Automotive Technology and Research Center released data show that in August the country's auto sales were 1,215,500 vehicles, an increase of 15.09%, and the auto market is expected to perform well in September.

Today's auto plate opened higher, all the way up, or rose in the forefront of the plate. At the close, FAW Cars (000800.SZ), Jiangling Motors (000550.SZ), Haima (000572.SZ), and Wanfeng Aowei (002085.SZ) all reached daily limit. The stock price reached 18.36 yuan, 30.73 yuan and 6.19 yuan respectively. And 13.65 yuan.

Shanghai Automotive (600104.SH) rose 8.89% to 17.5 yuan. FAW Xiali (000927.SZ), Changan Automobile (000625.SZ), Jianghuai Automobile (600418.SH), China Jialing (600877.SH) and other gains all exceeded 5%. According to WIND information, the net capital inflow from the auto sector reached 1.128 billion yuan.

"The improvement in car sales is mainly due to the increase in dealers' price reductions and the gradual emergence of the effects of energy-saving and emission-reduction subsidies." Ai Jian Securities analyst Yan Yanhui told the reporter of the "First Financial Daily". It is expected that vehicle sales in the whole year of 2010 are expected to reach 16.5 million to 17 million vehicles, which is much higher than the sales volume of 13 million vehicles in the previous year.

Statistics show that from January to August, the cumulative production and sales of automobiles in China were 109.915 million and 945.69 million, respectively, an increase of 35.45% and 31.53% respectively over the same period of last year, and the overall development situation was good. Among them, the energy saving and subsidy policies had a significant effect on the market, and 132 energy-saving. In August, the sales volume of automobiles reached 129,600 units, an increase of 32.04% month-on-month, which was an increase of 3.68 percentage points from the market share before the implementation of the policy.

Reviewing the performance of automobile stocks over the past month, many auto stocks performed “tepid”, Foton Motors rose 9.55% in August, Shanghai Automotive rose 7.045%, and Changan Automobile and other monthly gains were less than 3%.

Analysts believe that the current price-earnings ratio of many key auto stocks is basically below 15 times, and the valuation is at a relatively reasonable level. With the trend of steady growth in automobile performance in the second half of the year, some auto stocks that have not gained much in the previous period may have certain investment opportunities.

Hongyuan Securities also believes that it is expected that the sales of passenger cars will continue to go down due to the subsidy of energy-saving vehicles. It is expected to improve in the future, but investors are also reminded that the prices of cars may decline in the future and that the macro economy may The risk brought.