9月新势力再冲销量高峰，燃油车“头部效应”加剧

Core Insights - The domestic automotive market in September 2025 shows a dual trend of growth in both new energy vehicles (NEVs) and traditional fuel vehicles, with significant competition among new energy brands and a structural recovery in fuel vehicles [1][7]. New Energy Vehicle Market - Leap Motor achieved a record monthly delivery of 66,657 units in September, marking a 97% year-on-year increase and becoming the top new energy brand [2]. - Other leading brands like Hongmeng Zhixing, Xiaopeng, and Xiaomi also reported monthly deliveries exceeding 40,000 units, indicating a heightened competitive threshold in the new energy sector [2]. - NIO and Li Auto delivered 34,749 and 33,951 units respectively, with NIO showing a 64% year-on-year growth, while Li Auto's deliveries rebounded with a 19% month-on-month increase [3]. Traditional Fuel Vehicle Market - The fuel vehicle market is experiencing a structural recovery, with approximately 9 models selling over 10,000 units in September, accounting for about 20% of total fuel vehicle sales [4][7]. - Notable models include the Nissan Sylphy, which sold 16,900 units, followed by the Geely Boyue L and Volkswagen Lavida [4]. - Traditional automakers like Changan and Chery reported significant growth in their fuel vehicle sales, with Changan's sales reaching 266,000 units, a 25% year-on-year increase, and Chery's sales exceeding 280,000 units, up 14.7% [3]. Market Dynamics and Trends - The fuel vehicle market is seeing increased concentration, with a few top models dominating sales, while lower-ranked models struggle to compete [7]. - The sales of fuel vehicles have been supported by price reductions and policy incentives, with some brands offering substantial discounts to stimulate demand [5][6]. - The transition to new energy vehicles is posing challenges for traditional fuel vehicle manufacturers, who must innovate and adapt to new standards to remain competitive [8].