Wisdom Financial APP learned that during this year's National Day holiday, the car market has experienced a surge in sales, continuing the positive trend from September, stabilizing the traditional peak season for car sales in October. Sales staff at a BYD store in Shanghai stated that sales have been booming during the National Day holiday. We heard internally that the volume of orders taken this week could almost match the total sales of certain brands for the entire previous year on Wangchao Net, Haiyang Net. In addition, several car sales outlets' staff have all reported a significant increase in sales during the National Day holiday, with some Volkswagen outlets mentioning that the sales of certain models during the week almost exceeded the monthly sales of the past month. Ping An Securities pointed out that as the stimulus policies for car consumption are nearing withdrawal, the stimulating effect on the car market is becoming more evident. Combined with the peak consumption season for car purchases, the car market is poised to enjoy strong growth momentum before the end of the year.

On the evening of October 7, Leapmotor CEO Zhu Jiangming posted on WeChat Moments that on the last day of the National Day holiday, Leapmotor once again achieved record high sales, with over 17,000 units ordered during the 7-day holiday period. The chart he shared indicated that as of 10:18 PM on October 7, Leapmotor had received 17,397 orders this month. This is equivalent to half of Leapmotor's sales volume in September, and almost on par with the monthly sales volume in the first half of the year.

Also on the evening of October 7, Hongmeng Intelligent Drive's official account announced that during the National Day holiday, the cumulative number of confirmed orders for all Hongmeng Intelligent Drive models exceeded 28,600 units. Among them, the ZhiJie R7 model had over 9,600 confirmed orders, the WenJie M9 model had over 6,200 confirmed orders, and the WenJie M7 model also exceeded 7,000 confirmed orders.

Xiaomi founder Lei Jun also posted on Weibo stating, 'During the National Day holiday, Xiaomi Su7 orders have indeed exceeded 6,000 units. Thank you for your concern!' In an interview program on October 1, Lei Jun mentioned that Xiaomi's goal for October is to deliver 20,000 vehicles. In the just concluded September, Xiaomi delivered over 10,000 units of the Su7.

Not only are new forces in the industry announcing holiday sales data on a weekly basis, traditional car companies are also jumping on the bandwagon by releasing positive news.

Buick officially announced the number of orders from October 1st to 7th. The all-new Buick Enclave Plus starts at a limited time price of 1.699 million yuan, with over 7,000 orders in 7 days, representing a year-on-year growth of over 300%.

The industry believes that this year's "Golden September and Silver October" are greatly boosted by the policy of trading in old vehicles for new ones. On August 16, the Ministry of Commerce and six other departments issued a notice on further improving the work of trading in old cars for new ones, mentioning that for those meeting the requirements, scrapping old carsMergerIndividual consumers buying new cars will see subsidy standards increase from 0.01 million yuan for purchasing new energy passenger vehicles and 7,000 yuan for purchasing fuel passenger vehicles, to 0.02 million yuan and 15,000 yuan respectively.

Several well-known industry KOLs recently analyzed on social media that the surge in the stock market has boosted investors' consumption enthusiasm. With less heat in the real estate market compared to the past, it is expected that a large amount of consumption will flow into the automotive market. The demand for purchasing and replacing mainly intelligent electric vehicles will be unleashed.

With the arrival of the peak season of 'Golden September and Silver October' in the industry, as well as the incremental release of the policy for replacing old cars with new ones in the previous period, the new energy vehicle market accelerated its growth in September.

Specifically, sales of brands such as BYD, Li Auto, Leapmotor, Deep Blue, Xiaopeng, and Zeekr reached new highs, with monthly sales of 0.4176 million vehicles (passenger vehicles), 0.0537 million vehicles, 0.0338 million vehicles, 0.0227 million vehicles, 0.0214 million vehicles, 0.0213 million vehicles, respectively. The year-on-year growth rates were +46%, +49%, +114%, +31%, +39%, +77%, and the month-on-month growth rates were +13%, +12%, +11%, +13%, +52%, +18%. Models such as BYD DM5.0, Li Auto L6, Leapmotor C16 continued to contribute to the increase, and Xiaopeng MONAM03 delivered over ten thousand units in a single month. Hongmeng Smart Travel delivered 0.0399 million units in September, with an increase of 18% month-on-month. Among them, the WENJIE M9, WENJIE M7, WENJIE M5 delivered 0.0155 million units, 0.0168 million units, 0.0033 million units respectively, and Enjoy S9 delivered 0.0022 million units in the first month. The Smart R7 was launched and exceeded 0.011 million units in cumulative sales in five days.

Some emerging brands are accelerating production expansion and deliveries. Xiaopeng completed two production expansions to ensure the delivery of MONAM03; Xiaomi plans to increase production in October, with a monthly delivery target raised to over 0.02 million units; Lixiang L60 deliveries will also accelerate.

Orient Securities believes that recently, the sales performance of many auto enterprises and key new energy vehicle models has been impressive. It is expected that the continued impact of the subsequent policy of replacing old cars with new ones on the automotive market will continue to be released. The automotive industry companies are about to enter the third quarter financial report disclosure period, and the valuations of some companies in the automotive industry with high profit certainty in both vehicle and parts segments will be restored.

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BYD Company Limited (01211): With the support of the DM5.0 and e4.0 platforms, the main models of the Wang Chao and Ocean Network are undergoing redesign and upgrade, enhancing product competitiveness and sales. Tesla, Startup and Formula Leopard have a rich reserve of high-end brand models, accelerating the layout in the high-end market. In addition, going global is a long-term strategy for the company, with net profit per vehicle overseas far exceeding that of the domestic market, a key factor in the company's profit improvement. The company is in the stage of exploration and development overseas, with export sales increasing every month. New energy vehicle products have entered 77 countries and regions, including Brazil, Germany, Japan, Thailand, and more. BYD is actively promoting overseas production capacity construction, with the Uzbekistan plant and Thailand plant already in operation, and the construction of plants in Brazil and Hungary progressing steadily. The company also plans to invest in production capacity construction in Indonesia, Turkey, and other places.

Li Auto Inc (02015): delivered 0.054 million vehicles in September, up 48.9% year-on-year and up 11.6% month-on-month; in 3Q24, the company delivered 0.153 million new vehicles, up 45.4% year-on-year and up 40.8% month-on-month, approaching the upper limit of the previous Q3 sales guidance (0.145-0.155 million vehicles). The main reason for the month-on-month sales growth in September was the gradual introduction of local scrappage subsidies, increasing demand, especially in some provinces where subsidies are based on vehicle prices in a tiered manner, which is beneficial for premium car sales.

Great Wall Motor (02333): In addition to the price war in the domestic passenger vehicle market, Great Wall has relied on increasing exports and sales of tank brands to continuously improve profitability. In August, the Blue Mountain Intelligent Driving Edition was launched, featuring CoffeeOS3+ full-scenario NOA without images, which is expected to drive Wey brand sales rebound. In the second half of the year, new models such as Tank 700Hi4-T, new H6, and new H9 are expected to further optimize the product portfolio. In terms of exports, Great Wall has completed capacity deployment in Russia, Thailand, and Brazil, with continuous expansion of global KD factories. The overseas market covers over 170 countries and regions, with 1300+ sales channels, supporting the goal of achieving annual overseas sales of millions of vehicles by 2030.