Core Insights - The wholesale sales of new energy passenger vehicles in September 2025 are estimated to reach 1.5 million units, representing a year-on-year increase of 22% and a month-on-month increase of 16% [1][2] - Cumulative wholesale sales from January to September 2025 have reached 10.446 million units, showing a year-on-year growth of 32% [1] - The market is experiencing a structural high growth due to the recent breakthroughs in electrification by major automakers and the launch of popular new models [2] Industry Trends - The Ministry of Industry and Information Technology, along with multiple departments, is working to further regulate the competitive order in the new energy vehicle industry, which has shown significant effects [1] - The sales characteristics of the automotive market are increasingly showing a "low at the beginning and high at the end" trend, with a strong market performance expected towards the end of the year [1] - The introduction of new models around the Chengdu Auto Show is expected to attract consumer attention and contribute to market growth [1] Company Performance - Major manufacturers such as Geely, Changan, Leap Motor, Dongfeng, Xpeng, Great Wall, NIO, SAIC Passenger Cars, and others have achieved record high wholesale sales of new energy vehicles in September [2] - The overall sales of new energy vehicles have been boosted by strong exports and excellent performance from many second-tier automakers [2] - The top manufacturers in terms of new energy vehicle sales include SAIC-GM, GAC Toyota, Dongfeng Nissan, and others, with significant sales figures reported [4]

乘联分会介绍，根据月度初步乘联数据综合预估，9月全国新能源乘用车厂商批发销量150万辆，同比增 长22%，环比增长16%；今年1-9月累计批发1,044.6万辆，同比增长32%。 ...

高端市场"冠军效应"尤为突出。问界M9全系累计交付突破24万辆，持续稳居50万元级市场销量冠军； 今年4月上市的问界M8累计交付突破10万辆，稳坐40万元级市场销冠，两款车型共同夯实了赛力斯在高 端市场的领先地位。 资本市场对赛力斯后市预期乐观。随着年底购车旺季临近，全新问界M7的交付量有望持续爬坡，叠加 问界M9、M8的稳定输出，产品矩阵协同效应将进一步释放，赛力斯有望在第四季度迎来新一轮增长高 峰。 中证报中证网讯(王珞)10月8日，赛力斯（601127）发布2025年9月产销快报，当月新能源汽车销量达 44678辆，同比增长19.44%；1-9月累计销量304629辆。 问界系列的强劲表现是销量增长的关键支撑。9月23日上市的全新问界M7，在外观、座舱、性能与安全 等维度全面进阶，上市24小时内大定订单即突破4万台，9月26日便在赛力斯超级工厂(凤凰)启动首批交 付，实现"上市72小时即交付"的行业快节奏。今年前三季度，问界新M5Ultra、问界M92025款、问界 M8及纯电版等车型相继上市，产品矩阵持续完善，目前全系累计交付已突破80万辆，刷新了中国新能 源豪华品牌交付速度纪录。 ...

Core Insights - Multiple electric vehicle brands reported their September sales figures, with Leap Motor achieving a record delivery of 66,657 vehicles, marking a year-on-year growth of over 97% [1] - Xpeng Motors followed closely with a delivery of 41,581 vehicles in September, a year-on-year increase of approximately 95% [2] - NIO delivered 34,749 vehicles in September, reflecting a year-on-year growth of 64% [2] - Li Auto maintained its leading position in the SUV market above 200,000 yuan, with a total delivery of 33,951 vehicles in September [3] Company Performance - Leap Motor's total deliveries from January to September reached 395,516 vehicles, representing a year-on-year increase of 128.8% [1] - Xpeng Motors achieved a cumulative delivery of 313,196 vehicles in the first nine months of the year, showing a year-on-year growth of approximately 218% [2] - NIO's cumulative deliveries reached 872,785 vehicles, with the NIO brand accounting for 762,176 vehicles [2] - Li Auto's total cumulative deliveries reached 1,431,021 vehicles as of September 30, 2025 [2] Market Trends - The overall retail market for narrow passenger vehicles in September is estimated at around 2.15 million units, with a month-on-month growth of 6.5% and a year-on-year growth of 2.0% [5] - The retail sales of new energy vehicles are expected to reach approximately 1.25 million units, with a penetration rate of 58.1% [5] - The market is anticipated to enter a new phase of rapid growth for new energy vehicles, driven by the release of new models and increasing consumer interest [5]

Core Insights - The automotive industry is experiencing a surge in sales as companies rush to capitalize on the "golden September and silver October" period, with over 70 new models launched in September, predominantly SUVs [1] Group 1: New Energy Vehicle Sales - In September, new energy vehicle companies saw significant sales growth, with Li Auto's deliveries declining while others like Leap Motor, Xpeng, and Xiaomi achieved record numbers [2][3] - Leap Motor's sales reached approximately 66,770 units, marking it as the first new force brand to surpass 60,000 monthly sales [3] - Xpeng delivered 41,670 units in September, a 95% year-on-year increase, with a total of 312,000 units delivered in the first nine months [4] - Xiaomi also broke the 40,000 monthly delivery mark for the first time, indicating strong growth potential [4] Group 2: Company Performance - NIO delivered about 34,700 vehicles in September, a 64% increase year-on-year, with a total of 201,200 units delivered in the first nine months [4] - Li Auto's September deliveries were 34,000 units, showing a 19% month-on-month increase but a nearly 40% decline year-on-year [6] - Zeekr's sales reached 18,300 units in September, with a strong pre-sale performance for its flagship model, the Zeekr 9X [8] - The brand's rapid growth is attributed to its comprehensive product lineup, with the C10 and C16 models leading in their respective categories [3] Group 3: Traditional Automakers - BYD's September sales slightly decreased by 5.52% to 396,300 units, primarily due to a significant drop in plug-in hybrid vehicle sales [11] - Great Wall Motors achieved sales of 133,600 units in September, a 23.29% increase, with both new energy and overseas sales reaching new highs [11] - Geely's sales reached 273,100 units in September, a 35% year-on-year increase, with new energy vehicle sales growing by 81.27% [11]

（文章来源：中国新闻网） 9月27日，第七届世界新能源汽车大会在海口开幕。据中国科协主席、世界新能源汽车大会主席万钢介 绍，2025年上半年，全球新能源汽车销量再创新高，超975万辆，同比增长31.3%，市场渗透率已经达 到21.4%。其中欧洲地区新能源汽车市场大幅回暖，同比增长24.7%；美国新能源汽车仍然保持增长态 势，同比增长4.1%；中国的新能源汽车继续保持高速增长，今年上半年销量达到了693.7万辆，同比增 长40.3%，市场渗透率已经达到44.3%。 ...

8月，新能源汽车国内销量117.1万辆，环比增长13%，同比增长18.3%。1至8月，新能源汽车国内销量 808.8万辆，同比增长30.1%。 8月，新能源汽车产销分别完成139.1万辆和139.5万辆，同比分别增长27.4%和26.8%。1至8月，新能源 汽车产销分别完成962.5万辆和962万辆，同比分别增长37.3%和36.7%。 "中汽协会数据"公众号9月17日消息，据中国汽车工业协会分析，8月，新能源汽车产销环比同比双增 长，增长均在25%以上，呈快速增长态势。 ...

Group 1: Overall Market Performance - The automotive market in August showed strong performance despite being a traditionally slow season, with many companies reporting record high sales [1][2] - Traditional automakers and new energy vehicle (NEV) companies both experienced significant sales increases, supported by strong performance in NEVs and overseas markets [1] Group 2: Key Company Performances - BYD's August sales reached 373,600 units, nearly flat compared to the same month last year, with cumulative NEV sales for the first eight months at 2.864 million units, a 23% year-on-year increase [1] - SAIC Motor's total vehicle sales in August were 363,400 units, up 41.04% year-on-year, with NEV sales at 129,800 units, a 49.89% increase [1] - Geely's August sales were 250,200 units, a 38% increase, with NEV sales reaching 147,300 units, up 95%, accounting for 59% of total sales [1] - Chery Group's August sales were 242,700 units, a 14.6% increase, with NEV sales at 71,200 units, up 53.1% [2] - Changan Automobile's August sales reached 233,000 units, with NEV sales at 88,000 units, an 80% increase [2] - BAIC Group's August sales surpassed 135,000 units, a 3.3% increase, with NEV sales for the first eight months at 95,400 units, up 83.2% [2] - Great Wall Motors achieved its best August sales ever with 115,600 units sold, a 22.33% increase, and NEV sales of 37,500 units, up 50.92% [2] Group 3: New Energy Vehicle Segment - New energy vehicle sales are a significant driver of growth for traditional automakers, with many companies reporting substantial increases in this segment [1][2] - New entrants in the market, such as Li Auto, Xpeng Motors, and NIO, also reported strong delivery numbers, although there is a noticeable market segmentation [3] - Leap Motor achieved a record delivery of 57,100 units in August, an 88% year-on-year increase, while Xpeng Motors delivered 37,700 units, a 169% increase [3]

Core Viewpoint - The article highlights the strong sales performance of various new energy vehicle companies in August, with many experiencing significant year-on-year growth, while traditional automakers also showed positive trends, except for a few exceptions [2][4]. New Energy Vehicle Companies - In the new car manufacturing sector, all companies except Li Auto and Zeekr showed growth, with some brands achieving over 100% year-on-year increase [2][4]. - Leap Motor led the new car manufacturers with an August delivery of 57,000 units, an 88% increase year-on-year, and a cumulative sales of 329,000 units from January to August, marking a 136% increase [3][4]. - Xiaopeng Motors reported a strong performance with 38,000 units sold in August, a 169% increase, and a total of 272,000 units sold from January to August, reflecting a 252% increase [4][5]. - NIO also saw a recovery with 31,000 units sold in August, a 55% increase, supported by new models like the L90 [4][5]. - Li Auto's sales were 29,000 units in August, down 41% year-on-year, and a total of 263,000 units from January to August, down 9% [4][5]. Traditional Automakers - Among traditional automakers, BYD maintained its leading position with 374,000 units sold in August, showing a slight increase of 0.1% year-on-year [7][8]. - Geely's sales reached 147,000 units in August, a 95% increase, while Changan and Chery also reported significant growth of 80% and 53%, respectively [8][9]. - GAC Aion experienced a decline of 24% in August sales, but future performance is anticipated to improve due to ongoing reforms within GAC Group [9].

Core Insights - The new energy vehicle market in China is experiencing significant growth, with several companies reporting impressive sales figures for August 2023, particularly in the new car manufacturing sector [1][3][4]. Group 1: Sales Performance - Leap Motor achieved the highest sales in August with 57,000 units delivered, marking an 88% year-on-year increase and a total of 329,000 units sold from January to August, a 136% increase [1][2]. - Hongmeng Zhixing ranked second with 45,000 units sold in August, a 32% increase, and a total of 292,000 units for the year, up 7% [2][4]. - Xiaopeng Motors reported sales of 38,000 units in August, a remarkable 169% increase, with a total of 272,000 units sold from January to August, reflecting a 252% growth [2][4]. - NIO also showed recovery with 31,000 units sold in August, a 55% increase, supported by new models like the L90 [4][5]. Group 2: Market Trends - The overall trend in the new energy vehicle sector indicates that most companies, except for Li Auto and Zeekr, are experiencing growth, with some brands seeing year-on-year increases exceeding 100% [3]. - Traditional automakers are also witnessing growth in their new energy divisions, with companies like BYD maintaining a leading position with 374,000 units sold in August, showing a slight increase of 0.1% year-on-year [7][8]. - The competitive landscape is shifting, with brands like Geely and Changan showing significant growth rates of 95% and 80% respectively in August [7][8]. Group 3: Financial Performance - Leap Motor's financial performance is improving, with a reported revenue of 24.25 billion yuan and a net profit of 30 million yuan for the first half of the year, marking its first half-year profitability [1]. - Xiaomi Motors has set an ambitious annual sales target of 350,000 units, having sold approximately 220,000 units so far this year [5]. - Li Auto is adjusting its sales and revenue guidance for the third quarter due to various factors affecting its current model lineup [5].