Group 1 - The overall performance of the new energy vehicle market in September was strong, with many companies achieving record sales, indicating a potential breakthrough in the overall penetration rate of new energy vehicles in the automotive industry [1][2] - BYD's passenger car sales reached 393,060 units in September, with significant contributions from its various brands, indicating a stable monthly sales base of over 300,000 units [2][7] - Geely's new energy vehicle sales were 165,201 units in September, with a total sales volume of 273,125 units, showcasing its strong market presence and growth potential [8][9][13] Group 2 - Changan Automobile reported over 103,000 units in new energy vehicle sales in September, reflecting a clear product strategy across different price segments [14][18] - SAIC-GM-Wuling achieved new energy vehicle sales of 100,593 units, marking a significant milestone for the brand, particularly with its popular models [20] - Leap Motor's sales reached 66,657 units in September, driven by its commitment to technology and successful business model exploration [22] Group 3 - Great Wall Motors sold 45,961 new energy vehicles in September, with a focus on user-centric vehicle development [26][31] - XPeng Motors delivered 41,581 units, marking a significant increase in sales and a strategic focus on expanding into the European market [33] - Xiaomi Motors reported over 40,000 units in deliveries, with efforts to improve production capacity and customer satisfaction [38] Group 4 - NIO delivered 34,749 units in September, with a strong performance from its brands, indicating a positive trend towards profitability [39][46] - Li Auto's deliveries reached 33,951 units, with a focus on expanding its product offerings to meet market demands [48][51] - GAC Aion sold 29,113 units, maintaining stable sales amidst fierce competition [52] Group 5 - Dongfeng Yipai Technology achieved sales of 30,256 units, indicating a positive growth trajectory [53] - BAIC New Energy sold 20,539 units, with a notable contribution from its new model launches [54] - FAW Bestune's new energy vehicle sales reached 16,214 units, reflecting a successful transition towards electrification [59]

Core Viewpoint - The new energy vehicle market is experiencing intense competition among emerging car manufacturers, with several companies achieving record sales in September, marking a significant milestone in their delivery capabilities [3][4]. Group 1: Sales Performance - Several new energy vehicle manufacturers, including Leap Motor, Zeekr, and NIO, have all surpassed 30,000 units in sales for September, indicating a strong market presence [3]. - Leap Motor achieved a remarkable delivery of 66,657 units in September, maintaining its lead among new energy vehicle companies for seven consecutive months [4]. - Xiaomi and Xpeng both crossed the 40,000 unit delivery mark in September, with Xpeng reporting a 95% year-on-year increase in deliveries [5]. Group 2: Milestones and Targets - Leap Motor celebrated the production of its one-millionth vehicle in September, becoming the second new energy vehicle manufacturer to join the "million club" after Li Auto [4]. - NIO aims to deliver 150,000 vehicles in Q4 to reach the one-million delivery milestone for the year, with a current total of 872,800 vehicles delivered [6]. - Li Auto, despite being the first to enter the "million club," faced a 36.8% year-on-year decline in September sales, delivering 33,951 units [7]. Group 3: Market Dynamics - Hongmeng Zhixing reported a total delivery of 52,916 units in September, with cumulative deliveries exceeding 950,000, while maintaining the highest average transaction price among new energy brands [8]. - Zeekr and Lynk & Co combined sales reached 51,519 units in September, but their annual target completion rate stands at only 54.24% [8]. - Lantu Motors delivered 15,224 units in September, reflecting a 12.73% month-on-month increase [9].

Core Viewpoint - In September, the sales of new energy vehicles (NEVs) in China saw a significant increase for many manufacturers, while BYD experienced a decline in monthly sales compared to the previous year, primarily due to a drop in plug-in hybrid vehicle sales [2][5][6]. Summary by Category BYD Performance - BYD's NEV sales in September were 396,270 units, a year-on-year decrease of 5.52% [5][6]. - The decline was mainly attributed to a 25.58% drop in plug-in hybrid vehicle sales, which totaled 188,000 units, while pure electric vehicle sales increased by 24.31% to 205,000 units [6][10]. - BYD's overseas sales have stagnated since reaching a peak in June, with September's figures only slightly above those of January and February [9][10]. Competitor Performance - Geely's NEV sales reached 165,201 units in September, marking an 81.27% increase year-on-year [5][12]. - Great Wall Motors achieved 45,961 units in NEV sales, a 52.55% increase year-on-year [5][11]. - New energy vehicle sales from emerging manufacturers like Leap Motor and Xiaomi also hit record highs, with Leap Motor delivering 66,670 units, a 97.40% increase [5][17]. Emerging Manufacturers - Leap Motor became the first among new car manufacturers to exceed 60,000 monthly deliveries, marking a significant milestone [15][17]. - Xiaopeng and Xiaomi both surpassed 40,000 units in September, indicating a rising threshold for new energy vehicle sales among emerging manufacturers [17][20]. - NIO's deliveries reached 34,700 units, a 64.06% increase year-on-year, while Li Auto's deliveries fell by 36.79% to 34,000 units [20][25]. Market Trends - The market is witnessing a shift towards pure electric vehicles, with NIO focusing on this technology route and expecting 2025 to be a pivotal year for the NEV market [24][25]. - Li Auto is transitioning to pure electric models, with new launches aimed at enhancing their market position [27].

10月1日，理想汽车公布了2025年9月交付数据。当月，理想汽车交付新车33951辆；今年第三季度，理 想汽车交付93211辆新车。截至2025年9月30日，理想汽车历史累计交付量为1431021辆。（每日经济新 闻，泽塔） xiaon 0 U 雷 军 A 4 ) 63 @每日经济新闻 6 @每日经济新闻 | | | 2025年9月部分新势力交付情况(单位:辆) | | | | | --- | --- | --- | --- | --- | --- | | 企业 | 本月交付 | 上月交付 | 同比增幅 | 环比增幅 | 今年累计交付 | | 零跑汽车 | 66657 | 57066 | 97.4% | 16.8% | 395516 | | 小鹏汽车 | 41581 | 37709 | 94.7% | 10.3% | 313196 | | 小米汽车 | >40000 | >30000 | . | . | >260000 | | 蔚来 | 34749 | 31305 | 64.1% | 11.0% | 201221 | | 理想汽车 | 33951 | | 26529 2 目 名 3 3529 | 19.0% ...

Core Insights - In September, multiple new energy vehicle brands reported significant delivery numbers, with Leap Motor leading the pack with a record-breaking delivery of 66,657 vehicles, marking a year-on-year increase of over 97% [1][2] - The overall performance of the new energy vehicle market in September met expectations, driven by various factors including seasonal demand and promotional activities [5][6] Company Performance - **Leap Motor**: Delivered 66,657 vehicles in September, a year-on-year increase of 97.4% and a cumulative delivery of 395,516 vehicles for the year, up 128.8% [2][3] - **Xpeng Motors**: Achieved a delivery of 41,581 vehicles in September, a year-on-year growth of approximately 95% and a cumulative total of 313,196 vehicles for the year, reflecting a 218% increase [2][3] - **Xiaomi Motors**: Reported over 40,000 vehicles delivered in September, with a total of over 260,000 vehicles delivered this year [2] - **NIO**: Delivered 34,749 vehicles in September, a 64% year-on-year increase, with a total of 201,221 vehicles delivered this year [2][3] - **Li Auto**: Delivered 33,951 vehicles in September, with a cumulative total of 1,431,021 vehicles since inception [3][4] - **Horizon Motors**: Reported a total delivery of 52,916 vehicles in September, with a cumulative total exceeding 950,000 vehicles [4] - **GAC Aion**: Estimated global sales of 28,000 vehicles in September, with significant progress in charging infrastructure [4] - **ZEEKR**: Achieved sales of 51,159 vehicles in September, marking a year-on-year increase of 8.5% [4] - **Lantu Motors**: Delivered 15,224 vehicles in September, a 52% year-on-year increase, with a total of 96,992 vehicles delivered this year [5] Market Trends - The overall retail market for narrow passenger vehicles in September is estimated at around 2.15 million units, reflecting a month-on-month growth of 6.5% and a year-on-year growth of 2.0%, with new energy vehicles accounting for approximately 1.25 million units and a penetration rate of 58.1% [5] - The new energy vehicle market is expected to enter a phase of rapid growth, supported by the launch of new models and increasing consumer interest [6]

Core Insights - The new energy vehicle (NEV) sector in China is experiencing significant growth, with several emerging automakers reporting record delivery numbers in September 2023 [1][3][4] Group 1: Delivery Performance - Leap Motor achieved a record monthly delivery of approximately 66,700 vehicles in September, marking a 97% year-on-year increase [3] - Xpeng Motors delivered around 41,600 vehicles in September, a 95% year-on-year increase and a 10% month-on-month increase [3] - Xiaomi Motors surpassed 40,000 deliveries in September, with total deliveries exceeding 100,000 units in Q3, outpacing both Li Auto and NIO [3][4] - NIO delivered approximately 34,700 vehicles in September, a 64% year-on-year increase, while Li Auto delivered 33,951 vehicles, reversing a three-month decline [4] Group 2: Quarterly Performance - In Q3, Leap Motor delivered 173,900 vehicles, Xpeng Motors delivered 116,000 vehicles, Xiaomi Motors delivered over 100,000 vehicles, Li Auto delivered 93,200 vehicles, and NIO delivered 87,100 vehicles [4] Group 3: Industry Trends and Policies - The automotive industry is witnessing a shift with new entrants like Chase Technology entering the market, indicating a dynamic competitive landscape [6] - Recent government policies aim to boost the automotive sector, targeting a total vehicle sales volume of approximately 32.3 million by 2025, with NEV sales projected to reach around 15.5 million [8] - The Ministry of Industry and Information Technology emphasizes the importance of international cooperation and support for both domestic and foreign enterprises in the automotive industry [8]

Core Insights - In September, multiple new energy vehicle brands reported significant delivery numbers, with Leap Motor leading the pack with a record-breaking delivery of 66,657 vehicles, marking a year-on-year increase of over 97% [1][2] - The overall performance of the new energy vehicle market in September met expectations, with a total retail market for narrow passenger cars estimated at around 2.15 million units, reflecting a month-on-month growth of 6.5% and a year-on-year growth of 2.0% [11] Company Performance - **Leap Motor**: Delivered 66,657 vehicles in September, achieving a year-on-year growth of 97.4% and a cumulative delivery of 395,516 vehicles for the year, up 128.8% [2][1] - **Xpeng Motors**: Reported 41,581 vehicle deliveries in September, a year-on-year increase of approximately 95% and a cumulative total of 313,196 vehicles for the year, up 218% [2][3] - **Xiaomi Motors**: Exceeded 40,000 vehicle deliveries in September, with a total of over 260,000 vehicles delivered this year [2][3] - **NIO**: Delivered 34,749 vehicles in September, a year-on-year increase of 64%, with a cumulative total of 872,785 vehicles delivered [6] - **Li Auto**: Reported 33,951 vehicle deliveries in September, with a cumulative total of 1,431,021 vehicles delivered [8] - **Zeekr Technology**: Achieved 51,159 vehicle deliveries in September, marking a year-on-year growth of 8.5% [9] - **Lantu Motors**: Delivered 15,224 vehicles in September, a year-on-year increase of 52% [9] Market Trends - The new energy vehicle market is experiencing a surge in demand, driven by seasonal factors such as back-to-school purchases and wedding-related vehicle needs, alongside promotional activities by dealers [11] - The penetration rate of new energy vehicles reached approximately 58.1% in September, indicating a strong market presence [11] - The upcoming product launches and new model deliveries are expected to further boost market growth, with the industry entering a new phase of rapid expansion [11]

Core Insights - Multiple automotive companies reported record delivery numbers for September, indicating strong growth in the electric vehicle market [1] Company Summaries - NIO delivered 34,749 vehicles in September, a year-on-year increase of 64%, marking a historical high [2] - XPeng Motors delivered 41,581 vehicles in September, a 95% year-on-year increase and a 10% month-on-month increase, with total deliveries for the first nine months of 2025 reaching 313,196 vehicles, up 218% [2] - Li Auto delivered 33,951 vehicles in September, with a total of 93,211 vehicles delivered in Q3 2025 [2] - Xiaomi's vehicle deliveries exceeded 40,000 for the first time, following two consecutive months of over 30,000 [2] - Leap Motor achieved a record delivery of 66,657 vehicles in September, a year-on-year increase of over 97% [2] - Hongmeng Zhixing delivered 52,916 vehicles in September, with new orders exceeding 110,000 [2] - Lantu delivered 15,224 vehicles in September, with a year-on-year increase of 85% for the first nine months [2] - BYD sold 396,300 new energy vehicles in September, a slight decrease from 419,400 in the same month last year, but cumulative sales for the year reached 3.26 million, up 18.64% [2] - Great Wall Motors sold 133,600 vehicles in September, a year-on-year increase of 23.29%, with new energy vehicle sales reaching 45,961, up 52.55% [2] - BAIC Group achieved total vehicle sales of 157,000 in September, a year-on-year increase of 1.3% [2] - GAC Aion sold 29,113 vehicles in September [2] - SAIC-GM's total sales reached 47,695 vehicles in September, with new energy vehicle sales increasing by 31% [2] - SAIC-GM-Wuling sold 155,600 vehicles in September, with new energy vehicle sales surpassing 100,000 for the first time this year [2] - FAW-Volkswagen sold 146,400 vehicles in September, with a year-on-year increase in fuel vehicle market share [2] - FAW-Toyota sold 71,031 vehicles in September, with a cumulative year-on-year increase of 9.3% for the first nine months [2]

Core Viewpoint - Multiple automotive companies reported record delivery data for September, indicating strong growth in the electric vehicle market [2]. Group 1: Company Deliveries - NIO delivered 34,749 vehicles in September, a year-on-year increase of 64%, marking a historical high [6]. - XPeng Motors delivered 41,581 vehicles in September, a year-on-year increase of 95% and a month-on-month increase of 10%, also achieving a historical high [6]. - Li Auto delivered 33,951 vehicles in September, with a total of 93,211 vehicles delivered in Q3 2025 [6]. - Xiaomi's vehicle deliveries exceeded 40,000 for the first time, following two consecutive months of over 30,000 [6]. - Leap Motor achieved a record delivery of 66,657 vehicles in September, a year-on-year increase of over 97% [6]. - Hongmeng Zhixing delivered 52,916 vehicles in September, with new orders exceeding 110,000 [6]. - Lantu delivered 15,224 vehicles in September, with a year-to-date growth of 85% [6]. - BYD sold 396,300 new energy vehicles in September, a slight decrease from 419,400 in the same month last year, but cumulative sales reached 3.26 million, up 18.64% year-on-year [6]. - Great Wall Motors sold 133,600 vehicles in September, a year-on-year increase of 23.29%, with new energy vehicle sales reaching 45,961, up 52.55% [6]. - BAIC Group achieved a total vehicle sales of 157,000 in September, a year-on-year increase of 1.3% [6]. - GAC Aion sold 29,113 vehicles in September [6]. - SAIC-GM sold 47,695 vehicles in September, with new energy vehicle sales increasing by 31% [6]. - SAIC-GM-Wuling sold 155,600 vehicles in September, with new energy sales surpassing 100,000 for the first time this year [6]. - FAW-Volkswagen sold 146,400 vehicles in September, with a year-on-year increase in fuel vehicle market share [6]. - FAW-Toyota sold 71,031 vehicles in September, with a cumulative year-to-date increase of 9.3% [6].

多家车企在本月交付量都"创历史新高"，而"百万俱乐部"将成为今年下半年的关键词。 零跑汽车9月交付达66657台，连续七个月来在新势力车企中处于稳稳的领跑位置。值得一提的是，零跑 汽车还在9月迎来了第100万台整车正式下线，成为继理想之后，第二家跻身"百万俱乐部" 的新势力造 车企业。 刚刚过去的"金九"，新势力车企的销售进入了七强混战时期。零跑、极氪、鸿蒙智行、小鹏、小米、蔚 来和理想的销量都达到了3万辆以上。 其中，零跑在9月已经完成了第100万辆整车的下线，蔚来如果能在Q4完成15万辆的目标，也有望在今 年进入到交付百万辆的规模新起点。鸿蒙智行也宣布，截至9月底全系累计交付突破95万辆。 15万辆的交付、16%~17%的整车毛利率和NON-GAAP口径盈利，将是整个蔚来公司Q4需要全力以赴的 目标。 蔚来公司（蔚来+乐道+萤火虫）本月交付新车34749辆，环比增长11%，同比增长64%。截至目前，蔚 来公司总交付量为87.28万辆。李斌曾在半年报时提出，希望Q4能做到15万辆的交付。如果目标达成， 也意味着蔚来今年将有望达到100万辆的目标。 在零跑之后，小米和小鹏两家也稳稳站上了4万辆的交付大关。 首 ...