According to reports from Zhongtong Finance app, Bocom Intl released a research report stating the view that the automotive sector is performing better in the second half of the year than the first half, with improved sales leading to continuous stock price rebound. Many places nationwide have upgraded the subsidies for replacing old vehicles, including Shanghai, Beijing, Guangdong, Chongqing, Zhejiang, Sichuan, Hubei, Hunan, Heilongjiang, Qinghai, among others. At the same time, the bank believes that the recent stock market rally will significantly boost consumer spending, as per the bank's feedback from channel surveys, there has been a noticeable increase in the number of inquiries at terminal stores over the past week. Bocom Intl is optimistic about Byd Company Limited (01211) exports + DM5.0 model volume; Li Auto Inc -W(02015) continues to set record high in sales volume month-on-month; Nio Inc -SW(09866) valuation recovery + L60 on the rise; Xpeng Inc -W(09868) M03 on the rise and P7+ released.

In September, sales of Byd Company, Li Auto Inc, Leapmotor, and Xpeng Inc all reached record monthly highs.

According to some of the already published September sales data for automotive companies, many new energy vehicle companies achieved record sales, with sales of 10 companies increasing by 38.4% year-on-year and 12.7% month-on-month. The large number of new cars launched in September (such as M03 and L60) and the National Day self-driving tourism boom have both contributed to the increase in auto sales, and the scrappage and replacement policies in various regions are gradually activating the auto market. Byd Company, a leading player in the industry, achieved sales of nearly 420,000 vehicles in September, successfully surpassing the 400,000 monthly sales mark, with a year-on-year growth of over 40%.

In September, Li Auto Inc delivered 53,709 new vehicles, a 48.9% year-on-year increase, reaching a new high in deliveries; delivering 152,831 vehicles in the third quarter, a 45.4% year-on-year increase, totaling 341,812 deliveries this year. Since the third quarter, in the new energy vehicle market priced above 200,000 RMB, the concentration of the top 3 brands has reached 50%, with Li Auto Inc holding a market share of over 17% and leading in sales volume among Chinese new energy vehicle brands in this price range.

Xpeng Inc delivered a total of 21,352 new vehicles in September, a 39.0% year-on-year increase and a 52.1% month-on-month increase, with Xpeng MONAM03 exceeding ten thousand deliveries; a total of 990,000 new vehicles delivered in the first three quarters, a 21% year-on-year increase. Xpeng P7+ is set to debut on October 10th and is expected to be launched in the fourth quarter.

In September, Nio Inc delivered 21,181 new vehicles, accumulating a total of 149,281 new vehicles from January to September, a 35.7% year-on-year increase. Among them, Nio brand delivered 20,349 new vehicles in September, a 30.1% year-on-year increase, surpassing two hundred thousand units for five consecutive months. In the third quarter of this year, the Nio brand delivered a total of 61,023 new vehicles, setting a new record for single-quarter deliveries. The first model of the L60 under the Lessee brand began delivery on September 28th, with a total of 832 deliveries.

In September, Leapmotor delivered 33,767 vehicles, a year-on-year increase of 113.7% and a month-on-month increase of 11.4%; a total of 0.173 million vehicles were delivered in the first three quarters, a year-on-year increase of 94.6%. The first model of the all-new B series, Leapmotor B10, will make its official debut at the Paris Motor Show. The B series will also launch multiple models by 2025. According to the plan, Leapmotor International will release at least one new model every year in the next three years.

Xiaomi's car sales in September exceeded ten thousand vehicles for the fourth consecutive month. Although Xiaomi has not released detailed numbers officially, Xiaomi's car has set the production and delivery target for October at 0.02 million vehicles. Meanwhile, Lei Jun recently revealed that Xiaomi's car has been adding over 4,000 new orders per week since September, and the delivery schedule is already booked after February next year. The industry is bullish on Xiaomi's car sales prospects and is paying attention to the timing of the next new car release and the progress of the second-phase production capacity deployment.