The United States Senate failed to pass the US$14 billion plan to save the American auto industry, which drove the Detroit auto industry’s Big Three to increase its chances of bankruptcy, affecting global auto demand and supply of auto parts, dragging down Eurasian auto stocks, auto parts stocks and raw material stocks yesterday. Under pressure.

Japanese auto stocks fell more than 10%

The United States is the main export area of ​​the Japanese automobile company. The American auto industry's rescue plan has been aborted, which has made the US economic outlook more worrisome and will have a major blow to Japan’s exports. In addition, once one of the Big Three Detroit shuts down, it will drag parts suppliers to face a crisis of closure, which will affect the supply of parts for global automakers, dragging down the share price of Japanese auto companies such as Toyota and Honda by more than 10%.

South Korea, another major automobile producer, was also dragged down. Hyundai Motor, the local automaker, and its subsidiary, Kia Motor, both dropped by 9%.

European car and component manufacturers have been severely hit, with the Dow Jones Stoxx European Auto Index falling by nearly 5%. In Germany, the Daimler depot, which had not reached an agreement with Christie's parent company Cerberus Capital Management LP and the separation of the Christie's, still fell by 8.5 per cent yesterday; BMW was down 4.3%; Fook Motors fell by 2.8%. The United States is the main market for Daimler and BMW, and both companies have factories in the United States.

France’s Peugeot-Citroen and Renault fell by 5.7 per cent and 7.6 per cent respectively; Italian car maker Fiat also fell by 6.6 per cent.

Su Guojian, head of research at CCB International, said that the failure of the United States to save the three major automakers will cause global panic because the market is worried about whether it will drag down parts manufacturers and further affect the operation of other depots. In addition, it may also hinder bank financing for depots, but because GM has a certain share in the mainland market, if it eventually goes bankrupt, it may benefit other mainland vehicle manufacturers in the long run. He pointed out, for example, that he is holding high cash and working with Japanese depots. Weiwei may take a long-term share of GM’s market share; taking into account the pace of Geely’s expansion, its benefit may be slower.

Steel and auto parts suppliers were all dragged down. The European basic raw material index fell by 4.6%. Japan’s largest listed auto parts supplier, Japan’s telestock price, fell by 12% yesterday. French tire manufacturer Michelin fell Seven percent; Japan's largest exhaust pipe maker Aisin Seiki shares fell 13%.

Global auto stocks have recently been falling due to sluggish global auto sales. In addition, seeing General Motors (GM) on the verge of collapse, many European countries are protecting their country's depots. Germany is committed to assisting Opel, a subsidiary of GM, at any time. Sweden has also introduced measures to rescue the nation’s auto industry, including assisting GM-owned Saab and Ford’s affluent automaker.

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Mainland car stocks implicated

The U.S. car rescue program failed to get approval from the Senate. The news shocked the Asia-Pacific market. In the midst of worries that the operation of mainland auto stocks may be affected or sold under the influence of related stocks, auto stocks fell across the board yesterday; however, some analysts pointed out that if GM goes bankrupt, Some mainland automakers may seize their market share and may benefit in the long run.

In addition to the obstruction of the US auto industry rescue program, Hong Kong-listed auto stocks such as Geely (175) and Dongfeng (489) have also reported declines in sales figures, which have caused haze to investors; in fact, the China Association of Automobile Manufacturers announced last month. Mainland car sales fell 14.5 percent from the same period last year, adding even more pressure to car stocks.

On the 14th, automobile stocks dragged down by unfavorable news. Among them, Denway (203) suffered the most pressure, with the market closing down almost 13%, closing at 2.02 cents, and Dongfeng and Brilliance (1114) also dropped 9 percent respectively. Point 7 and 9.19. Geely, which had just announced that sales fell by 27% last month, also fell 1.69 percent, and Qingling (1122), a truck salesman with ample cash, retreated 5 percent.

Sun Hung Kai Financial strategist Peng Weixin pointed out that if GM goes bankrupt, some large-scale parts and components dealers will be involved. Since many engines are unable to be developed by the mainland automakers, the market is worried about problems in the entire auto industry supply chain. Therefore, the regional auto makers were sold off yesterday. He frankly stated that the under-performing automakers will inevitably suffer, and the short-term impact will be very obvious. The American automobile factory crisis also reflects the lack of demand in the local market, which is also unfavorable to some automakers in the U.S. market.

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