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Core Insights - January saw a significant reshuffling in the domestic automotive market, with new energy vehicle (NEV) purchase tax reinstatement and demand being pulled forward due to promotions leading to changes in rankings among new players [1] - New energy vehicle companies showed a clear divergence in January sales, with Zeekr, NIO, and Xiaomi Auto experiencing over 90% year-on-year growth, while Li Auto and Xpeng faced declines [1][2] Sales Performance - Hommage Zhixing delivered 57,900 vehicles in January, with the AITO brand contributing 40,000 units, accounting for 69.1% of total deliveries [2] - Xiaomi Auto delivered over 39,000 vehicles, marking a 95% year-on-year increase, despite a 22% month-on-month decline [2] - Leap Motor's January deliveries reached 32,100 units, with plans to hit a sales target of 1 million vehicles in 2026 [2] - Li Auto's deliveries were 27,700 units, entering a self-adjustment phase due to supply chain issues affecting production [3] - NIO delivered 27,200 vehicles, with a significant year-on-year increase of 163% driven by the new ES8 model [3] - Xpeng delivered approximately 20,000 vehicles, focusing on new product launches for 2026 [4] Traditional Automakers - Geely topped the sales chart in January with 270,200 units sold, a 1.29% year-on-year increase and a 14.08% month-on-month increase, driven by the Zeekr brand [5][6] - BYD's sales fell to 210,100 units, a 30.11% year-on-year decline, primarily due to weak domestic demand [6] - GAC Group reported sales of 116,600 units, an 18.47% year-on-year increase, although it faced a 37.81% month-on-month decline [7][8] - Chery Group's total sales were 190,000 units, down 10.7% year-on-year, with only the Chery brand showing growth [8] - Great Wall Motors sold 90,300 vehicles, an 11.60% year-on-year increase, with a notable 30% growth in NEV sales [9]