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china fund news reporter qiu dekun

the auto market’s “golden nine” data is released!

on october 1, car companies such as byd, ideal, hongmeng zhixing, nio, xpeng, and leapmoo released their september “report cards.” in addition to impressive sales (delivery) and other data, many car companies also mentioned "a record high in monthly delivery volume."

as a "dark horse" in the field of new energy vehicles, xiaomi motors still claims to have delivered more than 10,000 vehicles in september, but it is expected to deliver more than 20,000 vehicles in october.

the auto market in september was hotter than before. the china automobile dealers association predicts that terminal sales of passenger cars in september will be around 2.1 million units, achieving double growth year-on-year and month-on-month.

the china automobile dealers association analyzed that the hot sales of new cars launched in september, the launch of the autumn auto show, and the national day self-driving tour craze are all promoting the increase in car sales, and the car scrappage renewal and old trade-in policies are also gradually activating the car market.

some car companies will achieve annual sales targets ahead of schedule

in september, byd's new energy vehicle sales were 419,400 units, a year-on-year increase of 35.97% and a month-on-month increase of 12.42%.

in the first three quarters of 2024, byd's new energy vehicle sales reached 2.7479 million units, a year-on-year increase of 32.13%.

the above data presents two important pieces of information: first, byd's monthly sales reached a new high of over 400,000 vehicles; second, byd may complete its annual sales target in november.

byd previously set a sales target of more than 3.624 million vehicles in 2024. based on this conversion, to achieve this goal, byd only needs to sell 876,100 new energy vehicles in the fourth quarter of 2024.

since byd's sales in september have exceeded 400,000 vehicles, to achieve its annual sales target in november, the average sales volume in october and november needs to reach 438,100 vehicles.

the reporter noticed that xiaomi motors is also among the car companies that are expected to complete their annual sales (delivery) targets ahead of schedule.

xiaomi motors expects to complete its full-year delivery target of 100,000 vehicles by november 2024. in september, xiaomi motors delivered more than 10,000 vehicles, reaching the delivery target of more than 10,000 vehicles for four consecutive months. it will continue to increase production starting from october, and the monthly production and delivery target will exceed 20,000 vehicles.

lei jun, chairman of xiaomi group, mentioned in a live broadcast on october 1 that xiaomi motors currently has more than 4,000 new locked orders per week, and the delivery cycle has been scheduled to after february 2024.

many new car-making forces continue to rebound

in september, new car-making forces such as nio, xpeng, ideal, leapmotor, and jikrypton all showed continued growth, and many car companies mentioned the keyword "hit a record high in single-month delivery volume" in their report cards ".

among them, li auto's monthly delivery volume continues to lead the other three car companies, and its weekly delivery volume in september exceeded luxury brands mercedes-benz, bmw and audi for the first time.

"as the penetration rate of new energy vehicles gradually exceeds 50%, the brand head effect becomes more and more obvious." li xiang, chairman and ceo of li auto, said that since the third quarter of 2024, new energy vehicles with sales of more than 200,000 yuan have become more and more obvious. in the market, the concentration of top3 brands has reached 50%, and li auto’s market share exceeds 17%.

as of the end of september, li auto's cumulative delivery volume reached 975,200 vehicles, and october will see the 1 millionth new car rolled off the assembly line and delivered. li xiang said that this means that the intelligence of new energy vehicles, especially the development of intelligent driving technology, will enter a new stage.

leappo, weilai and xpeng all emphasized that new models will help increase their monthly delivery volume.

leopao said that the company's first model of the new b series, leapmo b10, will be unveiled at the paris motor show, and leapmo c10 and leapmo t03 will be launched in europe, which is expected to become a new engine for sales growth.

the l60, the first model of weilai's second brand ledo, began to be delivered in late september, with 832 units delivered in september. weilai said that in october, letao's production, manufacturing and delivery will be accelerated. currently, it has 125 stores across the country, covering 57 cities, and will continue to increase in the near future.

xiaopeng said that the company has completed two production expansions and will be fully prepared for the increased production of xpeng mona m03.

automobile companies' "golden nine" differentiation intensifies

during the peak auto sales season in september, many car companies have shown signs of decline.

in the second tier, aian's performance in september was still relatively weak, with global terminal sales of 35,780 units, a year-on-year decrease of 30.65% and a month-on-month increase of 1.20%.

aian is a new energy vehicle brand deployed by gac group, but sales in july, august, and september all increased slightly month-on-month, and sales in the first half of 2024 were 126,300 vehicles, a year-on-year decrease of 39.65%.

what’s even more serious is that the delivery volume of some new energy vehicle companies in september was not as good as in august.

in september, nezha's delivery volume was 10,118 vehicles, a year-on-year increase of 23.41%, and a month-on-month decrease of 8.06%; zhiji's delivery volume was 4,516 vehicles, a year-on-year increase of 150%, and a month-on-month decrease of 26.17%.

the industry is optimistic about the "silver ten" performance of the auto market

"terminal sales in october are expected to be basically the same as in september." the china automobile dealers association analyzed that with the steady advancement of vehicle scrapping and renewal policies and local trade-in policies, combined with the golden week auto show and the self-driving travel boom, and the year-end rush of dealers, the demand for the auto market will be keep rising.

since august, 15 provinces, autonomous regions and municipalities including beijing, guangzhou and tianjin have issued “old-for-new” policies for automobiles, boosting the car market’s “golden nine and silver ten” sales season.

recently, many car companies have released new models, including ji yue 07, haval h6 classic edition, wenjie m9 five-seat version, denza z9gt, ji krypton 7x, deep blue l07, all-new zhiji ls6, avita 07, le dao l60, xinlantu dreamer, etc.

huafu securities released a research report and analyzed that under the background of the introduction of local replacement subsidies, various car companies are sprinting for sales, and the prosperity of the automobile industry is expected to continue to rise.

sinolink securities released a research report predicting that sales in the "golden nine and silver ten" peak season of the auto market in 2024 will exceed expectations. investment opportunities in the automobile sector in 2024 will show more structural characteristics, and we are optimistic about leading car companies on the track with a better competitive landscape, as well as car companies with international competitive advantages.