Core Viewpoint - The fuel vehicle market remains a sector with potential for exploration, with domestic brands like Jietu aggressively competing against joint venture brands to capture market share [1][6]. Group 1: Market Performance - As of August, traditional fuel passenger vehicle sales in China reached 902,000 units, an increase of 1.07 million units year-on-year, with a month-on-month growth of 10.9% and a year-on-year increase of 13.5% [2][6]. - From January to August, domestic passenger vehicle sales totaled 14.747 million units, reflecting a year-on-year growth of 13.6%. Traditional fuel vehicle sales accounted for 7.14 million units, representing a year-on-year increase of 7.5% [6]. - Despite the rise of new energy vehicles, traditional fuel vehicles still showed resilience, with a slight year-on-year decline of 0.3% in sales during the first eight months of the year [6]. Group 2: Competitive Landscape - The market for fuel vehicles is characterized by intense competition between domestic and joint venture brands, with Jietu and other domestic brands aiming to increase their competitiveness and market share [1][6]. - In the fuel SUV segment, four out of the top ten best-selling models from January to July were from domestic brands, indicating a shift in market dynamics [6]. - In August, several domestic fuel vehicles, including Jietu X70, achieved monthly sales exceeding 10,000 units, capturing one-third of the top 30 fuel vehicle sales [7]. Group 3: Product Strategy - Jietu's new model, the X70L, was launched with a starting price of 99,900 yuan, emphasizing the need for innovation in the fuel vehicle market amidst the electric wave [2][9]. - The X70L offers competitive advantages such as spaciousness and high-end configurations, with a wheelbase of 2820mm and various seating arrangements [9]. - Jietu is expanding its product range to include diverse powertrain options, including fuel, hybrid, and pure electric vehicles, to cater to a broader consumer base [9].