EBSCN·2025-10-10 05:49Investment Rating - The report maintains a "Buy" rating for the automotive and automotive parts industry [5]. Core Insights - In Q3 2025, Tesla's global deliveries exceeded expectations, with a year-on-year increase of 7.4% and a quarter-on-quarter increase of 29.4%, reaching 497,000 units. The Model 3 and Model Y standard versions were launched in North America with reduced starting prices [1]. - Xpeng's sales surpassed 40,000 units in September, marking a year-on-year increase of 94.7% and a quarter-on-quarter increase of 10.3% [1]. - NIO's deliveries also showed growth, with a year-on-year increase of 64.1% and a quarter-on-quarter increase of 11.0%, totaling 34,749 units in September [1]. Summary by Sections Tesla and New Forces Sales Tracking - Tesla's global delivery volume reached 497,000 units in Q3 2025, with Model 3 and Y sales contributing significantly [1]. - Xpeng delivered 41,581 units in September, while NIO and Li Auto reported deliveries of 34,749 and 33,951 units, respectively [1]. Order Trends and Delivery Cycles - Tesla's delivery cycles for the domestic Model 3 and Model Y have been extended, indicating high demand as the peak season approaches [2]. - New energy vehicle manufacturers like Li Auto and NIO are also experiencing changes in delivery cycles, with some models seeing extended wait times [2]. Company Recommendations - The report recommends investing in companies such as NIO, Xpeng, SAIC Motor, and Geely Automobile, as well as parts suppliers like Fuyao Glass and Top Group [3]. - It highlights the potential in the robotics and intelligent driving themes, suggesting a focus on companies involved in these sectors [3]. Earnings Forecast and Valuation Table - The earnings per share (EPS) and price-to-earnings (PE) ratios for key companies are provided, with NIO, Xpeng, and SAIC Motor all receiving a "Buy" rating based on their projected performance [4].