On October 1st, the electric car September performance report has been released successively!

li auto inc, xpeng achieved a historical high delivery volume in September, $LEAPMOTOR (09863.HK)$ monthly year-on-year growth rate exceeds 100%, $NIO Inc (NIO.US)$and$XPeng (XPEV.US)$N/A.$ZEEKR (ZK.US)$Monthly deliveries exceeded 20,000. $XIAOMI-W (01810.HK)$ Achieved the delivery target of over 10,000 for four consecutive months.

CPCA previously pointed out that the automotive market in September showed a high-speed growth trend, with a significant "Golden September" effect. It is estimated that the narrow passenger vehicle retail market in September is around 2.1 million units, a year-on-year increase of 4.0% compared to last year.

Multiple car companies achieved record sales this month.

Specifically:

$Li Auto (LI.US)$Achieved a new record high in monthly deliveries.

In September 2024, 53,709 new vehicles were delivered, a 48.9% increase year-on-year. In the third quarter, Li Auto Inc delivered 152,831 vehicles, a 45.4% increase year-on-year. As of September 30, 2024, Li Auto Inc delivered a total of 341,812 vehicles in 2024, with a historical cumulative delivery volume of 975,176 vehicles.

$XPeng (XPEV.US)$Achieved a new historical high in monthly deliveries.

In September 2024, Xpeng Motors delivered a total of 21,352 new vehicles, a year-on-year increase of 39%, and a month-on-month increase of 52%. Among them, Xpeng MONA M03 deliveries exceeded ten thousand units. From January to September 2024, Xpeng Motors has delivered a total of 98,561 new vehicles, a year-on-year increase of 21%.

$LEAPMOTOR (09863.HK)$Stabilizing the monthly sales at the 0.03 million club, delivery volume sets a new record again.

In September, deliveries reached 33,767 units, a year-on-year increase of 113.7%; total deliveries for the first three quarters reached 172,861 units, a year-on-year increase of 94.6%.

Lantu Automotive's deliveries exceeded ten thousand in September, with monthly sales increasing for five consecutive months.

In September, 10,001 vehicles were delivered, with an average selling price of 0.336 million yuan; the all-new Lantu Dreamer has been on the market for 12 days, with deliveries surpassing 5000 vehicles.

$ZEEKR (ZK.US)$ Autos monthly sales reached a new historical high.

In September, a total of 21,333 vehicles were delivered, a 77% year-on-year increase and an 18% month-on-month increase; from January to September, a total of 142,873 vehicles were delivered, a significant 81% year-on-year increase. The total deliveries are approaching 0.34 million units.

$XIAOMI-W (01810.HK)$ Autos delivered over 10,000 SU7 vehicles in September.

Xiaomi Auto has achieved the goal of breaking 10,000 deliveries for 4 consecutive months. In October, Xiaomi Auto factory will continue to increase production, aiming for a monthly production target of 0.02 million units. It is expected to achieve the annual delivery target of 0.1 million units in advance in November.

$NIO Inc. USD OV (NIO.SG)$Autos: delivered 21,181 vehicles in September.

According to the announcement from NIO Inc, 21,181 cars were delivered in September 2024, a 35.4% year-on-year increase. In the three months ending in September 2024, 61,855 cars were delivered, an 11.6% year-on-year growth.

As of September 30, 2024, the cumulative delivery volume for the year reached 598,875 cars.

In addition, several car companies achieved year-on-year growth in sales in September.

Deep Blue Auto delivered a total of 22,709 vehicles in September, an increase of 30.74% compared to the same period last year.

BAIC New Energy sold 15,781 vehicles in September; the cumulative sales from January to September reached 67,849 units, a year-on-year increase of 23.9%.

Strong performance in auto sales in September.

This month, multiple bullish policies have been successively introduced, further stimulating consumer demand for autos.

The China Association of Automobile Manufacturers pointed out that the national scrappage and renewal policy, as well as local policies for trade-in subsidies, have been steadily implemented, vigorously driving the growth of the auto market. Coupled with the effects of the "Mid-Autumn Festival" and "National Day" holidays, the auto market in September showed a rapid growth trend, with a significant boost from the "Golden September" effect.

The association predicts that the narrow definition passenger vehicle retail market this month is around 2.1 million vehicles, a year-on-year increase of 4.0% compared to last year, a month-on-month increase of 10.1%, with new energy fund retail expected to be around 1.1 million vehicles, a year-on-year increase of 47.3%, a month-on-month increase of 7.3%, with a penetration rate of approximately 52.4%.

Cui Dongshu, Secretary General of the China Passenger Car Association, stated: "We currently have a 93% optimism level for the September market, which is the highest optimism point in the recent market."

Looking ahead, Dongguan Securities stated that passenger vehicle sales in September are expected to increase year-on-year and month-on-month. Detailed rules for the trade-in subsidy have been implemented across the country, coupled with the peak consumption season of "Golden September and Silver October," the automotive industry is expected to continue to grow. Unmanned intelligent driving continues to iterate and upgrade, with multiple commercial layouts progressing and expected to accelerate the introduction of relevant policies and the implementation of domestic brand intelligent driving models, driving the continuous trend towards automotive intelligence.

Founder Securities believes that the trade-in subsidy combined with the reduction in existing interest rates, "Golden September and Silver October," is expected to surpass recent highs: benefiting from provincial and municipal consumption subsidies + multiple trade-in / scrapping and new car subsidies, subsidies per vehicle can reach 25,000 yuan, combined with a 50BP reduction in existing interest rates on mortgage loans for potential stimulative effects on automotive consumption. The most robust "Golden September and Silver October" in recent years is on the horizon, with promising prospects.

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