汽车行业快评报告：10月多家新能源车企销量表现亮眼

Investment Rating - The industry investment rating is "Outperform the Market" [4][8] Core Insights - In October 2024, several leading new energy vehicle companies achieved record sales, driven by policies promoting vehicle trade-ins, local subsidies, and the launch of new models, indicating a booming market for new energy vehicles [1][2] - BYD, the industry leader, sold over 500,000 vehicles in October 2024, marking a 66.5% year-on-year increase, with cumulative sales exceeding 3.25 million units from January to October, reflecting a strong competitive position [2] - Li Auto delivered 51,443 vehicles in October 2024, a 27.3% increase year-on-year, ranking first among new force car manufacturers [2] - Xpeng Motors delivered 23,917 vehicles in October 2024, a 20% increase year-on-year, with cumulative deliveries of 122,478 units from January to October, showing a 21% growth [2] - NIO delivered 20,976 vehicles in October 2024, maintaining over 20,000 units for six consecutive months, with a cumulative delivery of 170,257 units, reflecting a 35.05% year-on-year increase [2] - Seres delivered 36,011 vehicles in October 2024, a remarkable 104.61% increase year-on-year, with cumulative deliveries reaching 352,724 units, a 310.99% increase [3] - Leap Motor achieved 38,177 vehicle deliveries in October 2024, a 109.7% year-on-year increase, driven by strong performance of its C series SUVs [3] - Zeekr delivered 25,049 vehicles in October 2024, a 92% year-on-year increase, with cumulative deliveries of 167,922 units, an 82% increase [3] - Xiaomi Auto surpassed 20,000 vehicle deliveries in October 2024, marking its first month with over 20,000 units delivered [3] Summary by Sections Policy Support - The National Development and Reform Commission and the Ministry of Finance issued measures to support the replacement of old vehicles and increase subsidies for new energy buses and battery replacements, which is expected to stimulate demand in the new energy vehicle market [4][5] Market Outlook - The report suggests focusing on high-quality new energy vehicle companies that possess brand and market advantages and are actively expanding into overseas markets [4][5]