Core Insights - The article discusses the recent market performance of the Zeekr 9X, highlighting its popularity since its launch on September 29, with a significant customer interest that peaked in mid-October [2][3]. Sales Performance - The Zeekr 9X has seen a high in-store customer traffic, with approximately 70% of visitors interested in this model, leading to a lack of attention on other models [2]. - The most popular variant is the Hyper version, which accounts for over 60% of sales, while the Max version has seen minimal interest [5]. Financing and Purchase Options - The official financing policy requires a minimum down payment of 20%, with a five-year loan term and two years of interest-free payments [7]. - Customers are incentivized with a super trade-in bonus of ¥10,000 and a tax rebate for orders placed within the month [7]. Customer Demographics and Preferences - The typical customer for the 9X is often a private enterprise owner, with many comparing it to competitors like the AITO M9 and NIO ES8 [9][11]. - Customers are particularly drawn to the driving experience and safety features of the 9X, with some expressing concerns about the delivery wait times [16][18]. Competitive Landscape - The main competitors identified are the AITO M9, AITO M8, and Li Auto L9, with a significant portion of customers comparing the 9X to the M9 [11][12]. - Brand perception plays a crucial role, with Huawei's brand strength being a significant factor for customers who prioritize intelligent driving features [12]. Customer Feedback - The primary complaint among customers is the long wait time for vehicle delivery, with many opting for the Hyper version but feeling anxious about the delivery delays [18]. - The company has introduced incentives for waiting customers, such as points and lottery activities, but these do not significantly alleviate customer concerns about delivery speed [18]. Additional Considerations - Current orders for the 9X are saturated, and there are no special discounts available [20]. - Existing owners of Zeekr 001 and 009 models can benefit from a ¥20,000 discount coupon for the new purchase, while Geely Group vehicle owners receive a ¥30,000 points incentive [20].

Investment Rating - The report maintains a "Recommendation" rating for the automotive industry, expecting the industry index to outperform the benchmark index by over 5% in the next 3-6 months [30]. Core Insights - The report highlights the upcoming launch of four significant new models in October 2025, including the Wei brand Gaoshan 7 and the Tengshi N8L, which are expected to have a substantial impact on related stock prices [6][8]. - The report suggests focusing on the market performance and expectations surrounding the new models from major manufacturers such as BYD, Great Wall, and Xpeng [8][10]. - Investment recommendations include Jianghuai Automobile, Geely Automobile, and BYD in the complete vehicle sector, while also suggesting quality stocks in the auto parts sector [6][10]. Summary by Sections Industry Basic Data - The automotive industry comprises 235 listed companies with a total market capitalization of approximately 48,568.92 billion and a circulating market value of about 37,097.69 billion [3]. New Model Launches - In October 2025, four key new models are expected to launch: 1. Wei brand Gaoshan 7 (25-30 million C-class MPV) with an estimated monthly sales of 0.3 thousand units [11]. 2. Tengshi N8L (30-40 million C-class SUV) with an estimated monthly sales of 0.3-0.5 thousand units [16]. 3. Xpeng 9X range extender (30-40 million C-class MPV) [10]. 4. Zeekr Huanshen 001 (25-30 million C-class hatchback) [10]. Market Performance - The report notes the absolute performance of the automotive sector over the past 1 month, 6 months, and 12 months as 0.2%, 18.6%, and 33.4%, respectively, while the relative performance shows a decline of 0.2% over 1 month and 2.1% over 6 months, but an increase of 18.8% over 12 months [4]. Investment Recommendations - The report recommends focusing on the new product launches in October as a catalyst for investment in the automotive sector, particularly in complete vehicle manufacturers and auto parts suppliers [6][10]. - Specific recommendations include: 1. Complete vehicles: Jianghuai Automobile, Geely Automobile, BYD. 2. Auto parts: Minshi Group, Top Group, Yinlun Shares, and others [6][10].