每经编辑｜张锦河 1月1日，多家车企公布2025年12月份"成绩单"。 蔚来发文称，2025年12月，蔚来公司交付新车48,135台，创历史新高，同比增长54.6%。其中，蔚来品牌交付31,897台，创历史新高，同比增长 54.8%，交付量连续五个月增长；乐道品牌交付新车9,154台；firefly萤火虫品牌交付新车7,084台，创历史新高，环比增长16.4%，交付量连续五个月增 长。 2025年全年，蔚来公司共交付新车326,028台，创历史新高，同比增长46.9%。其中，蔚来品牌共交付178,806台。乐道品牌共交付107,808台。firefly萤 火虫品牌交付39,414台。 小鹏汽车称，2025年1~12月，小鹏汽车累计交付新车429,445台，同比增长126%，刷新历史年度交付纪录。12月，小鹏汽车共交付新车37,508台，实 现同环比双增长。 据理想汽车官方微博，理想汽车2025年12月交付44246辆汽车，截至2025年12月31日，理想汽车累计交付量已达1540215辆。 据小米汽车官方微博，小米汽车2025年12月交付量超过5万台。 小米创办人，董事长兼CEO雷军同日发文宣布小米YU7全系 ...

Core Insights - Li Auto reported a total delivery of 33,951 vehicles in September, with a year-on-year decline of 36.8% compared to 53,709 vehicles delivered in September 2024, marking a decrease of nearly 20,000 units [1] - The third quarter saw Li Auto deliver 93,211 vehicles, continuing a downward trend for the fourth consecutive month since June, although September's deliveries showed a 19% month-on-month increase from August's 28,529 vehicles due to the delivery of two new electric models, the i8 and i6 [1] - In contrast, Leap Motor led the market with a record delivery of 66,657 vehicles in September, achieving over 97% year-on-year growth, and a total of 395,516 vehicles delivered from January to September, reflecting a 128.8% increase [1] - Xpeng Motors delivered 41,581 vehicles in September, marking a year-on-year increase of approximately 95% and a month-on-month growth of 10%, with total deliveries reaching 313,196 vehicles for the year, up about 218% [1] - NIO reported 34,749 vehicle deliveries in September, a year-on-year increase of 64% and a month-on-month increase of 11%, setting a new historical high [1] - Xiaomi Auto also surpassed 40,000 vehicle deliveries in September, marking its first month of exceeding this threshold, following a previous milestone of over 30,000 deliveries in August [2] Company Performance - Li Auto's September deliveries: 33,951 vehicles, down 36.8% year-on-year [1] - Leap Motor's September deliveries: 66,657 vehicles, up over 97% year-on-year [1] - Xpeng Motors' September deliveries: 41,581 vehicles, up approximately 95% year-on-year [1] - NIO's September deliveries: 34,749 vehicles, up 64% year-on-year [1] - Xiaomi Auto's September deliveries: over 40,000 vehicles, first month exceeding this figure [2] Market Trends - Li Auto's deliveries show a recovery trend with a 19% month-on-month increase in September [1] - Leap Motor and Xpeng Motors demonstrate significant growth rates, indicating a competitive market landscape [1] - The overall performance of the electric vehicle sector remains strong, with multiple companies achieving record deliveries [1][2]

Group 1 - The core point of the article is that Leap Motor (09863.HK) has achieved significant order volume, with over 18,000 orders across its entire lineup from May 1 to May 5 [1] - On May 5, the company recorded over 3,700 orders in a single day, indicating strong demand [1] - The C11 model alone reached 1,099 orders in a single day, showcasing its popularity among consumers [1]