SMM News: bank of China International pointed out that the National Development and Reform Commission recently issued the "implementation Plan for promoting the Renewal and upgrading of key Consumer goods and the smooth Recycling of Resources (2019-2020)," which clearly proposes to strictly prohibit all localities from introducing new restrictions on the purchase of vehicles. The abolition of restrictions on the purchase of new energy vehicles will help promote the renewal and consumption of vehicles, promote the recovery of passenger vehicles and the high growth of sales of new energy vehicles, and will play a guiding role in the formulation of follow-up policies by local governments, which are expected to introduce corresponding policies. Work together to boost car sales. At present, the inventory of passenger cars in Guowu is nearing the end, central and local stimulus consumption policies are gradually introduced, and the subsequent sales growth rate is expected to gradually become positive and usher in an inflection point. It is suggested that attention should be paid to investment opportunities in the automobile sector. Focus on the recommendation of BYD, Changan Automobile, SAIC Group, Great Wall Automobile, Huayu Automobile, Wanliyang, Baolong Technology and so on.
Bank of China International: the Policy is expected to promote the recovery of Automobile sales and Investment opportunities in the sector