$LEAPMOTOR (09863.HK)$ Source: Securities Times
Today's weather is good Today's weather is good

As the peak season for car sales, this year's "Golden September" new car releases have attracted attention from all sectors. According to incomplete statistics from journalists, over 40 new cars were launched in September. Just on September 26 alone, at least 10 new cars were synchronously launched, released, or available for pre-sale.

With a slew of new car releases from automakers, price wars have accelerated restructuring, and consumer enthusiasm is gradually being unleashed. Recently, several car companies have announced their sales and delivery performance for September.

At the close of trading on October 2, Hong Kong's new energy vehicle stocks surged in response.$NIO-SW (09866.HK)$,$XPENG-W (09868.HK)$,$LI AUTO-W (02015.HK)$,$BYD COMPANY (01211.HK)$,$GEELY AUTO (00175.HK)$,$GWMOTOR (02333.HK)$Among the collective rise in red, li auto inc led the gains, closing at HK$121.5 per share, up 12.40%; great wall motor closed at HK$15.84 per share, up 9.24%; byd company closed at HK$299.40 per share, up 5.50%.

There is a unanimous voice of 'rise'.

As the first car manufacturer to officially announce the cessation of traditional fuel vehicles, byd company seizes the opportunity of the strong growth of new energy vehicles and continues to lead the market.

On the evening of October 1st, byd company released the September production and sales report on the Hong Kong Stock Exchange. It is understood that in September, byd's new energy vehicle sales were 0.4194 million units, compared to 0.2875 million units in the same period last year; the total installed capacity of new energy vehicle power batteries and energy storage batteries in September was approximately 19.8GWh, with a cumulative total installed capacity of approximately 127.72GWh by 2024. From January to September this year, byd's new energy vehicle sales reached 2.7479 million units, a year-on-year increase of 32.13%.

On October 1st, xpeng auto officially announced that the delivery volume of xpeng P7 in September exceeded 0.01 million units, achieving the goal of over 10,000 deliveries for the fourth consecutive month. At the same time, xpeng auto stated that in October, the xpeng auto factory will continue to increase production, with a monthly production target of 0.02 million units, aiming to complete the annual delivery goal of 0.1 million units ahead of schedule in November.

On the same day, the official Weibo account of 'HarmonyOS Smart Travel' announced that 39,931 new cars were delivered in September. Among them, the AITO InDepth series continued to lead the market, delivering a total of 35,560 new cars in September.

In addition, the number of vehicles delivered by Leapmotor surged year-on-year in September.

$NIO Inc (NIO.US)$ According to the announcement, about 0.0212 million vehicles were delivered in September, a 35.4% year-on-year increase.

$Li Auto (LI.US)$ In September, 53,709 new vehicles were delivered, setting a new monthly delivery record, with a 48.9% year-on-year increase. As of September 30th, li auto inc delivered a total of 341,812 vehicles in 2024, with a historical cumulative delivery volume of 975,176 vehicles.

Thanks to the delivery of over ten thousand units of Xiaopeng MONA M03. $XPeng (XPEV.US)$ A total of 21,352 new vehicles were delivered in September, setting a new monthly delivery record with a 39% year-on-year increase and a 52% increase compared to the previous month.

$LEAPMOTOR (09863.HK)$ The delivery volume in September continued to grow, reaching 33,767 vehicles, a year-on-year increase of 113.7%. The cumulative deliveries in the first three quarters reached 172,861 vehicles, a year-on-year increase of 94.6%.

Regarding the new brands hatched by traditional automotive companies, $ZEEKR (ZK.US)$ announced that the September deliveries reached 21,333 vehicles, setting a new historical high, with a 77% year-on-year increase and an 18% increase month-on-month. Zeekr has delivered a total of 142,873 vehicles from January to September this year, an 81% year-on-year increase. As of the end of September, Zeekr has delivered nearly 0.34 million vehicles.

On October 1st, Lantu Automobile announced that the delivery volume in September was 10,001 vehicles, with an average selling price of 0.336 million yuan. In addition, the all-new Lantu Dreamer delivered over 5,000 vehicles in the first 12 days of listing, and Lantu's another new car, Zhiyin, will be officially listed on October 13th.

In terms of the absolute value of sales volume in September, $GAC GROUP (02238.HK)$ Eian's sales performance was also quite prominent. They sold 30,016 new cars in the month, a 121% year-on-year increase, with a cumulative sales volume of 182,321 vehicles from January to September this year, a 132% year-on-year increase.

"Old-for-new" policies driving the "Golden September and Silver October".

Cui Dongshu, Secretary-General of the National Passenger Vehicle Market Information Joint Conference, stated that in addition to the wave of new car launches, national scrappage renewal policies and local old-for-new replacement policies are steadily boosting the growth of the auto market together.

The combination of the Mid-Autumn Festival and the National Day holiday effects has led to a high-speed growth trend in the automotive market in September, with the significant effect of "Golden September". He told Securities Times·e Company reporters that as the country strengthens subsidies for car scrappage renewal, the market recovery has clearly stimulated the auto market, easing the pressure of price wars on automakers relatively, and the year-end auto market will enter a sustained strengthening trend.

In fact, since the second round of detailed policies on the auto scrappage renewal policy was officially announced in August, various provinces and municipalities have gradually implemented policies on subsidies for vehicle replacement renewal, with 31 regions having specific policies in place as of September 29.

According to a research report from Sinolink Securities, on the basis of the existing national-level scrappage renewal subsidies, various provinces and municipalities have also introduced corresponding replacement subsidy policies for transferring old cars and purchasing new energy passenger vehicles or gasoline passenger vehicles. Most regions categorize the subsidies based on price bands and do not limit the upper price of the newly purchased vehicle. For consumers purchasing new energy passenger vehicles, subsidy amounts are generally higher, with the highest subsidies reaching up to 0.02 million yuan in Yunnan, Hainan, and Qinghai. In addition to replacement subsidies, regions like Qinghai and Tibet have also introduced subsidies for new vehicle purchases, with the highest subsidy amount reaching up to 0.018 million yuan.

The report believes that as various regional replacement policies gradually take effect and with ample supply of new cars, potential replacement demand is expected to be further tapped into. Additionally, most regions require the purchase of new cars to start on the day the replacement subsidy is announced until the end of the year, potentially further enhancing the traditional peak season vehicle market prosperity of "Golden September and Silver October".

Editor / jayden