【券商聚焦】中國銀河:預(yù)計(jì)年末購置稅政策到期與廠商沖量將推動(dòng)12月銷量向上
【資料圖】
金吾財(cái)訊 | 中國銀河證券發(fā)研報(bào)指,11月車市在經(jīng)歷了前幾個(gè)月多輪搶政策補(bǔ)貼后,已經(jīng)形成了較大的透支效應(yīng),消費(fèi)者觀望情緒較濃,總體需求釋放相對(duì)謹(jǐn)慎。據(jù)乘聯(lián)會(huì)統(tǒng)計(jì),11月全國乘用車零售總市場226.3萬輛,同比下降7%,環(huán)比增長1%。11月全國乘用車廠商批發(fā)299.2萬輛,同比增長2%,環(huán)比增長2%。其中,新能源乘用車零售135.4萬輛,同比增長7%,環(huán)比增長6%,零售滲透率達(dá)到59.8%。11月全國乘用車廠商新能源批發(fā)172萬輛,同比增長20%,環(huán)比增長7%,批發(fā)滲透率達(dá)到57.5%。展望12月,預(yù)計(jì)年末購置稅政策到期與廠商沖量將推動(dòng)12月銷量向上。但2026年起購置稅政策調(diào)整,可能導(dǎo)致市場需求短期回落,尤其對(duì)30萬元以下車型影響較大,一季度需提前防范政策退坡疊加淡季的風(fēng)險(xiǎn)。該機(jī)構(gòu)推薦處于新車強(qiáng)周期的乘用車頭部企業(yè)、智能化產(chǎn)業(yè)鏈與人形機(jī)器人產(chǎn)業(yè)鏈。
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