The automotive industry: long-term trends do not change the Societe Generale Securities auto industry research report released in October 14th, the report is as follows: the points of Investment Event: September New Energy Automobile Association released data: September sales of 44 thousand new energy vehicles, year-on-year growth of 43.8% in 13.9%, the new energy passenger cars 31 thousand, year-on-year growth of 48.7% and 2.3%. New energy commercial vehicles 13 thousand, year-on-year growth of 33.1% 57.5%. New energy passenger cars in September year on year growth rate down, the chain was basically flat, long-term development trend is not changed. September new energy passenger car sales 31 thousand, an increase of 48.7% QoQ, down 2.3% year on year growth rate, the chain was basically flat. 16 years as a whole to guide the development of new energy industry norms, the new energy passenger car sales in the 3 quarter of each month is about the level of about 30 thousand. The verification results have a cheat up (the passenger area affected by the minimum), the NDRC’s carbon quota policy and the Ministry of fuel and new energy integration policy of the draft by the long development of good car industry, following the country make policy adjustments (expect the passenger does not transfer) is also expected to launch corresponding new energy. The 4 quarter passenger volume, the development trend of 3-5 does not change the future. Commercial vehicles in September representing a rapid growth in the long term to improve the competitive structure of passenger car. Commercial vehicles in September 13 thousand sales, up 33.1% QoQ 57.5%, showing rapid growth. After the completion of the fraud verification results, the bus for the hardest hit, in particular, 6-8 m bus cheat to fill the serious, the follow-up policy is expected to adjust the national subsidy rate of 6-8 meters down the maximum adjustment. We believe the lie to make verification and the forthcoming national subsidy policy on the impact of the overall passenger car sales, improve bus competition structure of micro structure, speculation cheat up inferior supply is extrusion, sales structure to the large bus transfer, leading market share will increase. New energy passenger car ten times ten times, is the future of A shares super theme. New energy passenger car industry penetration is low, the growth rate is high, the space is big. 2016 full year penetration is expected to less than 2% in the next few years is expected to double the continuous growth. According to the Ministry of integration policy requirements, in 2020 passenger car sales by 30 million, corresponding to the new energy integration 360 extremely, need to produce about 1 million 200 thousand cars. Considering the scale effect of passenger car costs decline, the future of new energy passenger cars to 10 million cars and a passenger car fuel alternative form. The strategic allocation of new energy passenger cars, JAC, BYD, combination, aotecar. The new energy passenger car is the focus of competition of international manufacturers, but also the ultimate goal of national policy guidance. To provide a long-term process of the Ministry of fuel and new energy integration policy for the development of new energy vehicles, urge the vehicle manufacturers to develop new energy vehicles, provide more cheap supply of high-quality products, to stimulate consumer demand, to form a positive cycle. The new energy from fuel, automotive technology revolution has begun to surge high and sweep forward passenger cars, new energy future the fastest growth rate of the largest space, the recommended combination — Jiang period相关的主题文章: