On October 22, 2026, SAIC-GM-Wuling announced that the cumulative sales of the Bingo Family surpassed 800,000 units. This milestone data proves that it has transcended the limitations of a single hit product and matured into a user-oriented product family in the A0-class new energy commuting segment. Since the first Bingo went on sale in 2023, within three years, the Bingo, Bingo Plus, Bingo S, and Bingo Pro four models were launched successively, forming a product matrix with clear gradients. In August and September of this year, the Bingo Family's monthly sales exceeded 20,000 units for two consecutive months, stably ranking in the first tier of small pure electric sedans.

Under the matrix stratification, each vehicle model has its own focus. Bingo Pro focuses on entry-level full configuration, starting at 56,800, with 80+ standard configurations. The five-door five-seater design paired with high space efficiency, the 403km version supports 15-minute 30%-80% fast charging, lowering the entry threshold for premium commuting. The Bingo S targets higher quality needs, with up to 525km range, featuring liquid-cooled batteries, 74.5% high-strength steel content, standard four airbags, and smart infotainment with wireless fast charging, catering to family travel needs.

A series of industry awards form an endorsement of the product's technical strength. Bingo won the Silver Award for Design at the China Patent Awards, Bingo S won the International CMF Design Award and China Top 10 Car Bodies, and the 12-in-1 electric drive of Bingo Pro received the domestic first five-star quality electric drive certification, pulling the evaluation standard of A0-class vehicles from low price, easy to drive and park, up to the dimension of overall vehicle quality.

While establishing a foothold in the domestic market, the Bingo Family continues to expand overseas, with products landing in markets such as Indonesia, Thailand, and Pakistan. Wuling is not simply exporting modified models, but exporting the mature premium commuting model verified domestically. 800,000 units represents the market's recognition of the trend of premium commuting consumption upgrade, and also establishes the Bingo Family's leading position in the A0-class pure electric market.

Recently, the South African Motor Industry Association (Naamsa) released new car sales data for September 2026. The overall sales of new cars in the South African new car market reached 61,645 units that month, a year-on-year increase of 12.7%; among them, the light commercial vehicle (LCV) sector sales were 14,361 units, a year-on-year increase of 9.6%. As the "basic foundation" of South African car consumption, pickups have the dual attributes of production tools and family vehicles, and their monthly sales rankings have always been regarded as a barometer of the car market.

In September, the total sales of the top 20 pickups in the South Africa sales ranking were about 12,390 units, a month-on-month increase of about 6.1% compared to 11,675 units in August, with market enthusiasm further enhanced compared to August. The biggest highlight of the ranking is that the Isuzu D-Max surpassed the Ford Ranger again after half a year, and the top three positions saw a rare swap.

At the top level, although Toyota Hilux sales dropped 2.9% month-on-month to 3,769 units, it still firmly held the top spot with an absolute advantage of leading the second place by more than 1,200 units. The currently available Hilux is produced by the Durban Prospecton plant, where the eighth and ninth generation models are sold together, and its status as the "King of South African Pickups" remains hard to shake in the short term.

The real contest is between the second and third places. Isuzu D-Max increased by 27.2% month-on-month to 2,551 units, rising to second, including 516 units of government procurement orders, accounting for about two-tenths of its total sales; this is the second time this year it has surpassed Ranger since March. Ford Ranger manufactured by Silverton plant sold 2,502 units, increasing 5.4% month-on-month, setting a new monthly high for many years, but still placed third with a slight gap of 49 units. The two locally made pickups are showing a close combat situation.

In the second tier, Mahindra Pik Up dropped 14.9% month-on-month to 521 units, holding fourth; Great Wall P-Series (including P300 and P500, P500 equipped with all-new 3.0T diesel power) decreased 12.1% month-on-month to 517 units, following closely with a difference of only 4 units, and has firmly held the top spot for Chinese brand pickups for several consecutive months. Volkswagen Amarok rose sharply by 22.5% month-on-month to 430 units, surpassing Toyota LC79 to rise to sixth; Land Cruiser 79 dropped slightly by 3.5% month-on-month to 419 units, falling to seventh.

The competition among other top 10 models is also fierce. JAC T Series increased 3.7% month-on-month to 255 units, rising to eighth; its 360 kW T9 plug-in hybrid version will also be launched soon; Mahindra Bolero increased by 46.8% month-on-month to 226 units, Peugeot Landtrek soared by 55.6% month-on-month to 207 units, both of which have entered the top 10.

Those falling out of the top 10 are Nissan Navara and Foton Tunland. Affected by the suspension of production at Rosslyn plant in May and the production line being handed over to Chery, Navara plummeted 37.2% month-on-month to 184 units, ranking only 11th, resulting in one less seat for Japanese brands in the top 10; and Chery taking over the Rosslyn plant also means that Chinese automakers in South Africa are moving from product exports to production capacity localization. Foton Tunland sales were 179 units, increasing 13.3% month-on-month, ranking 12th.

Other Chinese brands performed steadily overall. BYD Shark 6 increased 23.6% month-on-month to 157 units, JMC Bus also increased 16.2% month-on-month to 151 units, SAIC Maxus T60 increased 6.7% month-on-month to 128 units. Changan Hunter surged 330% month-on-month to 99 units, with the highest increase among the entire ranking; Mitsubishi Triton manufactured in Thailand and Kia Tasman were 53 units and 30 units respectively, both refreshing their best achievements for the year. The 8 Chinese brand pickups listed totaled about 1,495 units, an increase of about 6.8% month-on-month, accounting for more than 12% of the total ranking sales, and are becoming an important force driving market expansion.

Final Thoughts: In September 2026, the South Africa pickup market presented a pattern of "overall recovery, top swap, Chinese brand advance". With Navara local production capacity exiting and plug-in hybrid pickups entering one after another, the ranking battle on this list in the fourth quarter will still be full of uncertainties.

Data released by CPCA for September sales shows that retail sales in the passenger car market for September 2026 were 1.631 million units, a year-over-year decrease of 28.1%; even the new energy vehicle market that has always been growing rapidly saw a significant drop, with September NEV retail volume reaching only 1.084 million units, a year-over-year decrease of 16.7%.

Cumulative sales from January to September were 13.457 million units, a 21.9% decline compared to the 17.225 million units in the same period last year, with the absolute decline exceeding 3.8 million units. Meanwhile, new energy vehicles also declined by 12.8% in the first nine months, selling approximately 7.75 million units.

However, if only looking at wholesale data announced by automakers, it seems the Chinese automotive industry is not so "sluggish". According to September data, sales for brands like BYD, Geely, Chery, and Leapmotor all saw year-over-year increases, even reaching record highs. The "gap" here lies in export sales.

CPCA statistics show that Chinese automakers achieved 923,000 units in single-month exports for September, a year-over-year increase of 73.2%; domestic exports for the first nine months totaled 7.067 million units, a year-over-year increase of 75.2%. Moreover, the largest part of export growth was new energy vehicles. In September, NEV exports reached 558,000 units, with a year-over-year growth rate of 163.5%, while growth for January-September reached 3.887 million units, with an absolute increase of 1.2 million units.

01

Export Momentum Is Really Strong

The 3 million units of export growth basically filled the gap from the domestic market decline. To some extent, since the second half of this year, automakers have accelerated exports to overseas markets, equivalent to releasing domestic production capacity to overseas markets to avoid excess capacity.

Taking Chery Group as an example, Chery Group's exports reached 207,800 units in September, creating a new high for a single month's exports by Chinese automakers. In June, July, and August before this, Chery Group's exports also reached 191,000 units, 202,500 units, and 197,000 units respectively, almost sticking to exporting 200,000 units overseas, and as of September, Chery Group's annual export volume has reached over 1.55 million units.

BYD's export volume in the third quarter was also very considerable, reaching 180,000 units in July, nearly 190,000 units in August, and maintaining 180,000 units in September. It is expected that BYD's exports this year will also be around 1.5 million units, equally strong.

In terms of exports, Geely Automobile grew the fastest, with exports around 200,000 units in the first quarter, while by the third quarter this number had increased by more than 50%, exceeding 320,000 units. In addition, Leapmotor became the new force brand with the highest exports, with export data reaching around 160,000 units so far this year.

According to Jiasipai statistics, total sales of all Chinese brands in Europe's major markets (EU27 + European Free Trade Association + UK) for the first eight months of this year were approximately 864,000 units. The UK market alone reached 202,500 units. Sales in the five Southeast Asian countries during the same period were 293,000 units, and Australia had around 257,000 units. Additionally, sales in regional markets such as Mexico, Argentina, Brazil, and Uruguay were also very strong.

Jiasipai statistics showed sales performance of Chinese brands in 39 countries and regions. Among them, Chinese brands entered the top three in 11 countries and regions, and Chinese brands were present in the top ten car brands in 22 countries and regions. Additionally, the market share of Chinese brands exceeded 30% in Uruguay, Israel, Australia, Thailand, and Chile, with the share in Uruguay reaching as high as 57.6%. If we include joint ventures between Chinese brands and Russian local enterprises, the market share in Russia also exceeded 30%.

However, it is worth noting that the current 7 million units of Chinese automaker exports are not actually terminal sales truly realized in overseas markets, but rather the customs declaration perspective of automaker exports. In other words, 7 million units is a wholesale volume to overseas markets. It does not mean overseas markets can truly digest this sales volume; some may still be in ports and at sea, and it will take some time to truly convert into sales.

At the Paris Motor Show that just opened, nearly 20 Chinese complete vehicle brands participated, accounting for one-third of the total participating brands at the Paris Motor Show, and the scale of participation has expanded significantly compared to two years ago. It is worth knowing that even BMW did not participate in this Paris Motor Show, while some Japanese automakers such as Nissan, Suzuki, and Mitsubishi also absented themselves.

This "taking the lead" approach of Chinese brands made European media both excited and concerned. An article in Reuters wrote: "Like other Western motor shows, the Paris Motor Show has been in a state of decline until Chinese car manufacturers began to participate on a large scale four years ago."

02

Tariff Barriers and Trust Scrutiny

It is precisely because Chinese brands are rapidly "conquering" overseas markets that Chinese automakers have started to encounter more obstacles.

In 2024, the EU imposed countervailing duties on Chinese-made pure electric vehicles—added on top of the original 10% tariff, with the rate reaching up to about 35%, but hybrid models became a "gap", resulting in a significant growth in exports of Chinese brand plug-in hybrid models to the EU. After the conclusion of the second regular meeting of the China-EU Trade and Investment Consultation Mechanism recently, one of the results was that "both sides reached an understanding on hybrid vehicle trade in a manner consistent with World Trade Organization rules."

Although neither the China-EU side has revealed specific details about the reached memorandum of understanding, according to Maroš Šefčovič, EU Commissioner for Trade and Economic Security, new measures will reduce the number of hybrid vehicles imported from China by more than half, but this data is based on trade flow and forecasts for the next four years. According to Bloomberg, the quota for hybrid models exported from China may be around 350,000 units, which is indeed close to half of the previously stated figure.

At the same time, the Chinese side has made corresponding arrangements, one of which is "effective from April 1, 2027, the export VAT refund rate for new energy vehicles will be lowered from 13% to 9%." This means that the export profitability of Chinese automakers will be further compressed, and in a certain sense, it restricts the export of new energy vehicles.

More critically, products of Chinese automakers are facing stricter inspection by overseas regulatory authorities.

On October 6, a black Chery OMODA 5 in Malaysia broke its rear axle while driving, causing the wheels on both sides to detach together, luckily no one was injured.

Soon, on October 11, the Malaysia Land Transport Authority (JPJ) announced it would revoke relevant certificates and suspend the registration of new Chery OMODA 5 vehicles. Not only did it stop registration, but relevant Malaysian departments also required Chery to identify risky vehicles according to part numbers, production batches, VIN, and other information; to inspect complete vehicle production and assembly, as well as rear axle parts suppliers; and to verify production quality control, welding joint inspection procedures, and parts safety requirements. The Malaysian JPJ emphasized that only after completing corrective and preventive actions and having the risks properly controlled with JPJ technical confirmation will the suspension of registration measures be lifted.

Chery Automobile also announced the launch of a recall for the affected 8,878 OMODA 5 units to inspect relevant parts and replace them for free as appropriate. At the same time, Chery Automobile also emphasized that it would conduct a special risk investigation for the same batch of OMODA 5 models in domestic and relevant markets.

Of course, the above two cases are just typical examples of Chinese automakers facing obstacles in overseas markets in recent years. Previously, there were also cases such as the Australian Automotive Service and Repair Regulatory Agency (AASRA) issuing compliance warnings to five Chinese new energy automakers, and there were also requirements in places such as Turkey and Thailand for Chinese automakers exporting to local markets to build factories.

In the European market, the significant increase in sales by Chinese automakers has also attracted scrutiny from various parties. Reuters quoted François Roudier, Secretary General of the International Organization of Motor Vehicle Manufacturers, saying: "If they give up exports in Europe, they will die, because they cannot make money elsewhere."

Evidently, European media believe that due to the de facto closure of the US market to the Chinese automotive industry, Europe has become the primary priority market for Chinese automakers, which makes Chinese automakers consider further expanding their market share—some media expect the market share of Chinese automakers in Europe to reach 12% this year and 20% by 2030.

Therefore, for Chinese automakers, they cannot simply "shift sales volume" to overseas markets just because domestic market sales are declining. If the environment and capacity of overseas markets are not carefully considered, and the volume exceeding one-third of Chinese automotive production capacity is placed overseas, this will inevitably trigger "reactive measures" from other countries towards Chinese automakers and will directly create greater obstacles for Chinese automakers in overseas markets.

03

Export Peak Is Coming

Since restrictions on direct domestic exports are continuously increasing, Chinese automakers are also considering building factories locally more and more.

Leapmotor has started production at the Stellantis Spain factory starting in October and is fully prepared for overseas localization production.

BYD plans to start production at the new factory in Hungary in the fourth quarter. BYD Executive Vice President Li Ke became the focus of this Paris Motor Show. In interviews with multiple European media outlets, she revealed that BYD's commitment to Europe is "very deep".

For Geely, the plan to acquire Ford's Spanish factory has been officially approved. Geely will invest €221 million to acquire 34% equity of Ford España, S.L. Afterwards, Ford and Geely will establish a joint venture company to operate the factory together. Geely Automobile plans to produce two pure electric vehicle models at this factory: one may be the EX2, which is the domestic Xingyuan. At the same time, both parties will have a cooperative model—a new Crossover model led by Ford's design and jointly developed by Geely.

Additionally, SAIC Group's first factory in Europe has been confirmed to be located in Spain, planned to start construction in 2027 and start production at the end of 2028, mainly producing MG brand pure electric models. Chery Automobile and the Spanish car company Ebro-EV Motors joint venture company started production earlier this year, allowing Chery to achieve localized production in Europe.

Actually, localized production has become the consensus among Chinese top automakers, after all, high tariffs are difficult for them to bear for a long time, and landing production of pure electric models in Europe is also a path to avoid traditional European automakers.

And with Chinese automakers landing in Europe, the domestic new energy vehicle supply chain will also start its localization process in Europe. The new cell factory of CATL Debrecen in Hungary officially started production, with an annual planned capacity reaching 100GWh, capable of supporting pure electric vehicle models on a million-unit level.

If we follow European media forecasts—if the market share of Chinese brands in the European market reaches over 12% in 2026, then the annual sales of Chinese automakers in Europe in the coming years will be at least over 1.2 million units. After deducting the export quota for hybrid models, the scale of localization can reach around 900,000 units.

From this inference, it is highly likely that Chinese automakers will also land to build factories in other regional overseas markets, including Southeast Asia, Mexico, South America, etc. This makes the nearly 10 million unit level of exports in China in 2026 highly likely to be a peak, afterwards it may stabilize around 6-7 million units. Adding the domestic market, the domestic production capacity demand for China's automotive industry is also in the 20-23 million units range.

Currently, the passenger car production capacity of Chinese automakers is at least 30 million units in scale, which means capacity reduction for domestic automakers is inevitable and must be completed as soon as possible.

(END)

[Commercial Vehicle Network Original]

"Electric heavy-duty trucks can only run short distances" for a long time, almost became an industry consensus. This is mainly because the long-haul logistics scenario not only has fairly strict requirements for the performance of the whole vehicle, but also poses more challenges to the energy replenishment ecosystem, operational support, and even after-market guarantee network during the vehicle operation process. However, with the continuous rise of new energy penetration rate, coupled with the economic advantages of new energy heavy-duty trucks in short-haul transfer scenarios, new energy heavy-duty trucks are moving towards the broader long-haul logistics transport scenarios, becoming a major expectation for many truck drivers.

Under such expectations, at the end of this September, a new generation of new energy heavy-duty trucks for long-haul transport led by the new energy heavy-duty truck industry, XCMG Automotive - XCMG Hanjing was officially released. Whether this product can respond to the proposition of long-haul electrification with full-stack innovation is worth dissecting from two levels of product and scenario.

From Short-Haul to Long-Haul, XCMG Enters a New Situation with Hanjing

Data shows that XCMG new energy heavy-duty trucks have achieved the No.1 sales volume in the country for three consecutive years. On this basis, XCMG Automotive further targeted the long-haul logistics scenario which is more challenging. The "Implementation Plan for Promoting Large-Scale Application of New Energy Heavy-Duty Trucks" issued by the Ministry of Transport and other eleven departments in May of this year has provided an opportunity for XCMG Automotive to release the Hanjing, an epoch-making product, leading the industry into the long-haul logistics scenario.

Before this, from ports, mines to construction waste, the industry has completed the preliminary accumulation of electrification. XCMG is exactly a leader in these scenarios. Turning eyes to cross-regional, high-intensity, long-distance long-haul transport, it is not only the enrichment of XCMG Automotive product matrix, but also its redefinition of the application boundaries of new energy heavy-duty trucks. Relying on the "1+16+N" global R&D innovation system, XCMG continues to promote electrification and intelligence technology upgrades. Hanjing is an important landing point of this system extending to the long-haul transport field.

For the industry, the long-haul electrification has not been widely carried out for a long time. The core lies in the fact that single product innovation is not enough to solve user anxiety. From product to energy replenishment to operation, the market needs full-link support. XCMG Automotive chose to take full-stack technology as a carrier to connect product capability with operation ecosystem, providing a systematic solution for long-haul scenarios.

Full-Stack Technology Landing, Building an Industry Flagship Benchmark

From the product level, the technical upgrade path of XCMG Hanjing heavy-duty trucks is not a single-point breakthrough. For example, at the safety level, Hanjing adopts 1500Mpa hot-formed ultra-high strength steel body to build a safety skeleton, and is equipped with the first active pre-tensioning seatbelts and smart anti-asphyxiation system for commercial vehicles, forming occupant protection from active safety to passive safety. Battery safety is also not limited to a single dimension. Seven core technologies such as ceramic separator, fire-proof mica, and active fire suppression construct a multi-level thermal runaway prevention and control system.

Regarding reliability, Hanjing has completed extreme environment tests such as high temperature, high cold, and plateau. It has also passed extreme working conditions such as whole vehicle wading, battery fire, and strong magnetic environment, obtaining the industry's first NESTA six-dimensional electric safety certification. These verifications are not pursuing gimmicks in parameters, but to achieve non-degradation of product performance in all scenarios. Before the official release, Hanjing also completed the industry's first 24-hour endurance test at CATARC Yancheng Test Site, accumulating 2,198 km of travel under the condition of maximum gross weight of 49 tons. Verification spanning day and night provides stronger backing for the reliability of Hanjing's long-haul high-load operation.

However, economy is still the indicator most concerned by long-haul users. Hanjing adopts a new low drag cab, with a drag coefficient reduced by 35% compared to traditional cabs; independently developed integrated electric drive axle adopts oil-cooled flat wire motor. Coupled with intelligent torque distribution strategy, the system efficiency exceeds 95%, and the overall vehicle energy consumption is reduced by 15%. For medium to long-distance long-haul, charging efficiency and range capability are equally important. Its built-in 612 kWh high-capacity battery supports megawatt-level ultra-fast charging. The peak current exceeds 1400A, and the charging power is as high as 1.12MW. It only takes 20 minutes to charge electricity from 10% to 80%.

Intelligence and lightweighting further allow Hanjing not only to drive into long-haul logistics scenarios, but also to operate well in long-haul logistics scenarios. Hanjing is equipped with the industry's first central domain controller CCU. Compared with mainstream distributed architecture, its controller count is reduced by 60%, system computing power is increased 6 times, transmission speed is increased 135 times, and it supports high-speed NOA, automatic on-ramp and off-ramp and other advanced intelligent assisted driving functions; At the same time, through systematic innovative designs such as integrated bottom battery, segmented axle housing design, and high-strength lightweight materials for interior and exterior, the product weight is 1 ton lighter than same-level vehicles. These technologies jointly serve the efficiency and revenue of long-haul operation.

From Product to Ecosystem, Supporting Long-Haul Operation to "Run Steadily"

Facing a new commercial vehicle product for wealth creation, customers often pay more attention to its operational performance. Being able to run long-haul is just the starting point. Whether the fleet composed of these products can operate efficiently in the long term also depends on whether vehicle selection matches routes, whether charging nodes fit shifts, whether vehicle condition data is clear and visible, and whether service support can keep up with cross-regional transport.

When Hanjing was released, XCMG had already established an operation ecosystem of "Vehicle-Charger-Network-Service". Relying on the e-Lutong Internet of Vehicles platform, the fleet can master vehicle status and energy consumption performance. Carrying out vehicle selection and charging planning around actual transport routes allows single vehicle technical advantages to further extend to whole line operational efficiency. This means Hanjing does not emphasize one performance in isolation, but puts energy replenishment, management, and service into the same operation framework. For long-haul users, this systematic capability is often more attractive than single parameters.

Whether Hanjing can convert technical advantages into operational certainty, the service ecosystem is a key link. Behind XCMG's marketing service concept "We Put Our Heart Into It, You Can Rest Assured" is a set of quantifiable commitments: respond to repair requests within 15 minutes, engineers arrive at the site within 2 hours, complete fault repair within 8 hours, 365 days a year no days off. For extreme situations of long-term stoppage, spare vehicle service and parking subsidy mechanism further reduce users' worries.

While domestic market promotion continues, XCMG new energy heavy-duty trucks' global verification is also continuing. In Indonesia, XCMG broke the record for global large-capacity new energy dump truck delivery; in Hamilton, New Zealand, XCMG new energy chassis modified milk tankers provide about 600 tons of milk transport service for the local area every day. From the flying dust in Southeast Asian mines to the humid environment of New Zealand pastures, XCMG vehicles' adaptability has crossed the limits of geography and climate. Compared with these extreme scenarios, the road conditions and operational environment of China's long-haul highways actually appear more "friendly". When XCMG turns its eyes to long-haul logistics, what it brings is not only the product itself, but also a quality standard and service guarantee system that has been tested by the global market.

Conclusion

The appearance of XCMG Hanjing is not only the unveiling of a flagship product, but also a systematic display of XCMG's manufacturing capability, ecosystem construction, and service system. When the industry is still discussing whether long-haul logistics electrification can become true, this three-time sales champion has already given its own answer with the product.

" Lower the target, thicken the product "

Author | Gong Chenyan

Editor | Li Guozheng

Produced by | Baoning Studio (gbngzs)

The weekend after the National Day holiday, the customer traffic at a shopping mall in Shunyi, Beijing, was quieter than usual. At 9 PM, some stores began to close before their official closing time, but the lights were still on at the Zeekr Center here.

In the showroom, several families dispersed around the Zeekr 7X, 007GT, and 9X. Some sat in the rear seats, measuring legroom; others chased sales consultants, asking about the details of the November new car update.

Sales Consultant Zhang Xing ((Pseudonym)) said that at this time, with this traffic volume, it would have been unimaginable a year ago.

In the summer of 2024, when the store opened, Zhang Xing joined. He remembers very clearly: in the first few months, nine out of ten people entering the store started by asking, "What brand is Zeekr?" Even someone pointed at the storefront sign, pronouncing "Zeekr" as "Ji Yan".

At the beginning of his employment, Zhang Xing started his daily work with brand education: Under Geely, established in 2021, headquarters in Hangzhou... Two years later today, he no longer needs to repeat that introduction. Most customers come in and directly discuss specs, prices, and test drives.

This change is also reflected in the numbers. Official Zeekr data shows that 37,200 new vehicles were delivered in September this year, a 103.85% year-on-year increase. Deliveries from January to September reached 288,400 vehicles, a 100.84% year-on-year increase—exactly doubled. Calculated against an annual target of 300,000 vehicles, the completion rate after 9 months reached 96.1%.

This achievement can be considered unique in the industry. Data from the China Passenger Car Association shows that in the first 9 months of this year, retail sales of passenger vehicles nationwide decreased by about 22% year-on-year, and single-month retail sales in September dropped by 24%.

According to incomplete statistics by Baoning Studio previously, in the first three quarters, the completion rate of annual targets for mainstream automakers was mostly around 50%. Better ones were above 60%. Brands like Changan, Great Wall, Xiaomi, and XPeng just crossed the 50% line.

In 2025, Zeekr stated an annual sales target of 320,000 vehicles. By the end of the year, deliveries reached 224,100 vehicles, with a completion rate just over 70%. This year, Zeekr lowered its annual target to 300,000 vehicles, yet the completion rate in the first three quarters exceeded 96%. It could be fully achieved by mid-October, reaching the annual target 2 and a half months ahead of schedule.

▍01

Volume and Price Rise Together

Looking back at recent years, Zeekr has at least 3 mysteries—sales have surged significantly 3 times.

Public data shows that the brand delivered 6,007 vehicles in 2021, surged to 71,900 in 2022, skyrocketed to 118,700 in 2023, and suddenly rose to 222,100 in 2024.

However, 2025 sales were relatively quiet at 224,100 vehicles, basically flat compared to 2024, slightly more than 2,000 vehicles.

This year, Zeekr's performance was amazingly like a mystery again—delivering 288,400 vehicles in the first 9 months, instantly pulling the 5-year climbing curve into a steep rising line.

During this period, Zeekr's offline network expanded widely.

According to Zhang Xing, all Zeekr stores in Beijing are direct-operated stores. There are currently over 25, more than 10+ since he joined in 2024, nearly doubled; there are currently 7 service centers, and another service center will be added in the Nafaxin area of Shunyi after the new year.

His Shunyi store covers 3 suburbs of Beijing—Shunyi, Miyun, and Huairou. They sell an average of more than 50 vehicles a month, which is quite good for suburban stores, while flagship city stores sell over 100 a month. "At this time last year, the whole brand sold less than 20,000 vehicles a month. In September this year, it rose to 37,200 vehicles."

As sales volume shoots up, the price band also goes up—two opposing things in the eyes of competitors, which Zeekr accomplished simultaneously.

Geely Automobile's 2026 Semi-Annual Report shows that the Zeekr brand sold 178,000 vehicles in the first half of the year. With a 12.5% sales share of the group, it contributed 31.7% of revenue, with an average customer unit price around 350,000 yuan.

In August this year, the average unit price reached 370,000 yuan. This means Zeekr's transaction volume has crossed the threshold of traditional luxury brands and bumped into the heartland of BBA (Mercedes-Benz, BMW, Audi).

From the product matrix, Zeekr 7X is a solid volume driver. Priced at 229,800 to 269,800 yuan, it achieved global monthly sales of over 10,000 consecutively in July, August, and September. Listed for over a year, it has surpassed 200,000 global deliveries. At Zhang Xing's store, the 7X contributed nearly 30% of single-month sales.

The Shooting Brake 007GT also achieved monthly sales over 10,000 for consecutive months, supporting the young customer segment.

Looking further up, Zeekr 9X has been listed for a year, with over 70,000 deliveries. Single-month deliveries in September reached 7,225 vehicles, with an average unit price exceeding 530,000 yuan.

Zeekr 009 holds the first place in the 400,000 yuan and above pure electric MPV segment.

This has become another Zeekr mystery: Why can high prices still increase volume?

"Zeekr has mastered core technologies, mature whole vehicle platforms, 900V super charging, and assisted driving. This 9X model fills a market gap. The luxury car market was BBA's. Zeekr cars have high cost performance and high tech content. There are no direct competitors in that price segment," said Zhang Xiang, Guest Professor at Yellow River University of Science and Technology, to Baoning Studio.

He believes that based on this year's performance, Zeekr's quality is guaranteed with a good reputation. It actively solves quality issues when they arise, catching both technology and market sides, which is why growth is fast.

More detailed changes are happening in sales pitches.

Those familiar with Zeekr remember its "old accounts." In August 2023, Zeekr 001 price cut by 30,000 to 37,000 yuan, lowering the starting price from 300,000 yuan to 269,000 yuan. Then within half a year, in August 2024, a facelift was launched with added features and lower prices. The saying "three moves in a year" spread in the owner group, and rights protection voices once surpassed new car voices.

Now, when Zhang Xing receives consumers, he lays out the pacing clearly a quarter in advance. For example, if 7X plans a November update, he informs customers coming to the store since August, explaining the current model's status and where the new model changed.

"Zeekr cares more about model upgrades and existing owner rights protection than before. Its most criticized flaw is being fixed bit by bit," an industry insider stated.

▍02

Flowering Beyond the Wall

One answer to Zeekr's mystery this year—achieving 96% of the annual target in the first 9 months—is that this year added a strong incremental source: the overseas market.

"2026 is Zeekr's Export Explosion Year. Export volume increased by 550%. Exports made the biggest contribution to sales and revenue. The domestic market is shrinking. Exports pulled its overall growth," Zhang Xiang said. Domestic retail market has had negative growth for consecutive months. Exports have become a common choice for automakers to hedge against the coldness of the domestic market. Zeekr's rhythm exactly hit the beat of this industry shift.

Zeekr's overseas steps are not small. On August 14, 2026, Geely Automobile Group released news that on August 11, Zeekr brand achieved a delivery milestone of 10,000 vehicles in the Australia (should be Oceania) market, with a year-on-year increase of over 1400%. In the Middle East market, on September 22, a batch of Zeekr 9Xs loaded for shipment from the Jinjiang Port in Fuzhou to the UAE. Thus, 9X orders in the UAE have exceeded 700, with a starting price locally equivalent to about 700,000 yuan.

In Europe, 9X pricing in Germany is nearly 100,000 euros, equivalent to about 780,000 yuan. The whole vehicle selling price is nearly 1 million yuan, called "Most expensive Chinese car overseas" by local media.

Zeekr 009 entered Malaysia, Thailand, and other places, becoming official transport for government officials of multiple countries.

The latest move landed on Paris. On October 12, the 2026 Paris Motor Show opened. Zeekr exhibited on-site for the first time, placing the flagship 9X at the center of the booth. The whole flagship lineup all participated, and two new cars will be released. Putting the best products onto the most watched stage in Europe, Zeekr's emphasis on overseas markets is already placed on the surface.

Currently, Zeekr's business covers over 60 countries and regions, with nearly 800 global stores. It is one of the few Chinese luxury brands to achieve deliveries on five continents. Media, after organizing official disclosed information, proposed that its overseas deliveries in September were about 15,000 vehicles, accounting for about 40% of the monthly delivery volume.

This is another Zeekr mystery: It sells well overseas and sells at high prices.

Through Geely Automobile's 2026 Semi-Annual Report data, it can be calculated that for the same vehicle, Zeekr's export gross margin is about 10 percentage points higher than domestic. At the semi-annual report conference call, Geely Automobile's person in charge stated they would raise the annual export target from 640,000 vehicles to 920,000 vehicles, testing the million-level scale. Zeekr is the main force undertaking the high-end image among them.

The overseas market also caught old models. Zhang Xing said Zeekr 7X will launch the 2027 model in November. Before the new model launch, if current models are not sold out, they will not remain in the domestic market to be dumped, but will be directly loaded on ships for export. Zeekr 001 and other models with a Q1 next year facelift will handle accordingly.

This equals the overseas market guaranteeing the domestic price system—old models have a place to go, so domestic terminals do not need to rely on price diving to clear inventory. Zeekr has maneuvering space for both volume and price.

The foundation of this approach is the global resources Geely has accumulated over nearly 30 years.

"Its success has comprehensive factors, not accidental," Zhang Xiang stated. Zeekr hit the mark on every industry step. Early on, it stepped on the financing trend trend to raise sufficient funds without running out of food like many new force peers. In product planning, features of each model are staggered to avoid homogeneity. Plus Geely acquiring Volvo, cooperating with Mercedes-Benz on smart, investing in Lotus and Proton. Backed by Geely, Zeekr's international endorsement has been thicker than others from the beginning.

Of course, this overseas chess game hides question marks. Analysts warned that Zeekr's overseas share surged to 40% in September, containing the factor of concentrated shipping at quarter end. Extended to the whole year, the cumulative share is not as high as the single month. 9X in Europe is just starting. Tariff fluctuations, geopolitical compliance are realistic thresholds.

Seems, exports—Zeekr's this flower outside the wall blooms fast, but whether it can take root still needs to see the performance of a few quarters.

▍03

Quality Distinction

Regarding the 96% completion rate, how high is the gold content? For this aspect of Zeekr, industry views vary.

From terminal actual performance, first, Zeekr's high-end model prices hold firm currently. During store visits, sales consultants stated 9X has been listed for a year, with no cash discounts, and the 530,000 yuan average price has no loosening. Zhang Xing said Zeekr does not participate in the price war, and confidence is mainly supported by this car.

Secondly, in channels, Zeekr adopts direct-operated as main, partner model as supplement. Orders and inventory are relatively clean. Zhang Xing said Zeekr current model production dates generally do not exceed one month. Factory schedules production in small batches rolling. Produce after selling out, cannot see large scale stockpiling in channels.

Thirdly, looking at resale value retention rate, this brand residual value is recovering. China Association of Automobile Dealers Jingzheng Gu Report shows Zeekr 7X with 72.5% one-year resale value retention rate ranks first among hot-selling new energy mid-size SUV Chinese brands. China Auto Data Research Institute February 2026 list shows Zeekr 009 one-year resale value retention rate 81.6%, ranking at the front of pure electric models.

However, on the other hand, some Zeekr models also have price concession phenomenon at terminals. For example, 7X full series cash direct deduction 20,000 yuan, 001 discount 22,000 yuan. Holding Beijing indication also gift value about 3,000 yuan points. It seems prices that are firm concentrate on flagship models like 9X. As for volume models, price rigidity is not that strong.

In addition, Zeekr profit situation lacks complete information. After Zeekr privatization and delisting, integrating into Geely's listed system, it no longer discloses financial reports separately. Whether the brand overall turned a loss is not yet publicly authoritative information. Worth noting, Geely Automobile 2026 Semi-Annual Report shows first half operating activities cash flow 19.924 billion yuan, year-on-year decrease 67.98%, indicating its cash collection pressure has not disappeared.

"Annual sales target is a psychological leverage the industry has used for many years. If the target is set artificially high, the first half overdrafts attention, the second half overdrafts channel and brand confidence. Finally dealers and users are disappointed," an anonymous industry analyst stated.

In his view, Zeekr lowered this year's sales target to 300,000 vehicles, 20,000 less than last year. Surface look is bowing head. Actually, it takes manpower and production capacity from making up numbers and liberates them, landing back on the product itself.

Pragmatic target setting, down-to-earth product doing. This road is starting to be verified by Zeekr.

Zhang Xiang also believes setting targets high and treating them as market promotion means is an industry convention of many years. Not completing them at year-end is not rare. What is rare is Zeekr is willing to take the target back and fill it with products and exports.

For other Chinese brands, the reference significance of the Zeekr sample lies in, rather than competing targets at press conferences, better to thicken tech and stabilize channels. Using high-end overseas to replace low-price involution.

2026 is a dividing line for the Chinese automotive industry. After the tide goes out, who is swimming naked is clear at a glance. Zeekr lowered the target, thickened the product, exchanged for 9 months achieving 96% completion of annual target. Every automobile brand can ask itself: Can Zeekr-style growth be learned?

In September 2026, the Australian new car market delivered a total of 108,778 units, up 1.8% year-on-year. The electrification wave continues to sweep the market: Battery electric vehicles accounted for 26,287 units, 24.2% share, surpassing gasoline vehicles for the second consecutive month (26,018 units, down 36.2% year-on-year), with pure electric sales surging 117.7% year-on-year; Plug-in hybrids increased by 122.7% to 10,072 units, with BYD and Tesla emerging as the biggest winners. Ford Ranger reclaims the sales championship.

Pickup market shrinks, traditional diesel models decline across the board

By model count, 24 pickup models with sales in the Australian market totaled 18,406 units in September, a decrease of approximately 13% compared to the same period last year; the light commercial vehicle sector overall declined 13.2%, forming a sharp contrast with the 6.1% growing SUV market.

Pickups bear heavy load and towing tasks, electrification naturally lags behind passenger cars, but under high oil prices and transformation pressure, traditional diesel models have declined across the board for several consecutive months: Isuzu D-Max sold 1,866 units (-6.2%), Mitsubishi Triton 1,202 units (-30.6%), Great Wall Cannon 852 units (-31.6%), Mazda BT-50 843 units (-22.5%), Kia Tasman 355 units (-56.0%), Nissan Navara 338 units (-34.9%), Volkswagen Amarok 244 units (-42.7%), KGM Musso 85 units (-38.4%), Jeep Gladiator only 5 units (-80%); Toyota Land Cruiser 70 plummeted 96.1% year-on-year to 36 units.

Ranger returns to the top spot, top positions set

The top spot in September's Australian pickup sales was Ford Ranger, with 5,062 units delivered in September, up 4.0% year-on-year, doubling month-on-month compared to 2,440 units in August, while surpassing Toyota RAV4 (4,624 units) and Tesla Model Y (4,476 units), becoming the best-selling model in the entire market. The second and third positions were Toyota HiLux (4,455 units, -11.7%) and Isuzu D-Max (1,866 units, -6.2%) respectively; BYD Shark 6 ranked fourth with 1,492 units, Mitsubishi Triton ranked fifth with 1,202 units, Great Wall Cannon and Mazda BT-50 ranked sixth and seventh with 852 units and 843 units respectively.

In terms of annual cumulative figures, Ranger is 37,858 units, HiLux is 36,616 units, Model Y follows closely with 35,930 units, the gap between the three is around 2,000 units, and the annual sales championship is still in suspense.

Chinese brands grow against the trend, full-size pickup differentiation

The brands rising against the trend are almost exclusively Chinese brands. BYD Shark 6 plug-in hybrid pickup ranking fourth on the pickup list delivered 1,492 units, up 25.1% year-on-year; Maxus LDV T60 sold 375 units (+68.9%), the higher positioned large pickup Terron 9 sold 239 units (+195.1%), Foton Tunland V7 sold 129 units, JAC T9 sold 58 units (-47.3%). Chinese brand pickups totaled 3,145 units, accounting for about 17% of that month's pickup market; vehicles made in China delivered in Australia in September totaled 42,358 units (+63.8%), while supply volume from Thailand, the traditional pickup production base, declined 15.2% year-on-year.

Full-size market differentiation is obvious: Chevrolet Silverado sold 154 units (-1.3%), Silverado HD sold 139 units (-26.5%), RAM 1500 sold 145 units (-38.3%), RAM 2500/3500 sold 68 units (+61.9%) and 32 units respectively; Ford F-150 sold 128 units (surge year-on-year due to low base), Toyota Tundra Hybrid sold 104 units (+92.6%).

Final notes: September data outlines a more complex picture than "electrification wins": Ranger briefly "recovered" thanks to supply restoration, but could not hide the continuous shrinkage of the traditional pickup market dominated by diesel; Chinese brands are the main growth pole, but growth does not rely entirely on electrification—Shark 6 grew 25.1% year-on-year in plug-in hybrid identity, while Chinese models like Maxus T60, Terron 9 that grew against the trend are actually diesel vehicles; the true factors determining sales remain price, product power, and model freshness. Pickup electrification direction is clear, but far from the decisive stage.

September has historically been the traditional peak season for car consumption. The market performance this year showed characteristics different from previous years: a rebound month-on-month, but still facing pressure year-on-year. According to industry data forecasts, the narrow passenger car retail market size for the month was approximately 1.69 million vehicles, with a month-on-month growth of 9.7%; influenced by the high base of 2.241 million vehicles last year at this time, there was a year-on-year decline of 24.6%, and no explosive market like previous years was seen during the peak season. In an environment of stock competition, only car companies that have been polished by the market and continuously iterate products can gain their own growth share.

Against this backdrop, Hyper AION released September results: terminal sales of 35,494 units, with a year-on-year growth of 21.91%, achieving positive growth against the trend for 7 consecutive months. This performance is considered related to the system potential released by the BU system reform. Unlike relying on short-term price volume pushing, its growth relies on multi-dimensional drive of continuous evolution of blockbuster products, succession of new models, and incremental growth in overseas markets.

In terms of the high-end market, the Hyper brand steadily broadened simultaneously. The Hyper S600, as the Hyper brand's first sports SUV, is equipped with the only dual-chamber air suspension with four-wheel drive within the 200,000 price range, equipped with Eagle Claw System 2.0, all trims standard equipped with LiDAR and ADiGO GSD 3.0 intelligent driving assistance system, standard equipped with over 140 configurations. GAC Hyper stated, it will continue to uphold the proposition of 'Smart Enjoy Life'.

In terms of main models, AION i60 reached a milestone: users exceeded 100,000 cumulative within less than a year since launch, the September 2027 model officially launched refreshed, orders exceeded 20,000 units. The new car completed multiple practical optimizations based on real feedback from owners, including charging port moved to rear, newly added 66L front trunk etc. Simultaneously bringing refresh of 'Tech Trinity', equipped respectively with CATL batteries and Blade batteries, as well as Amorphous Alloy Electric Drive and Huawei Electric Drive, and introduced L4 co-source advanced intelligent driving.

Facing young groups pursuing driving control and personal expression, Ray series first model Ray7 welcomed interior premiere, and simultaneously launched Enjoyment Plan. Users paying 299 yuan reservation fee can lock a total of 8999 yuan in full Enjoyment rights, brand simultaneously established RC Club (Ray Racing Club), and limited delivery of drift experience courses. This model equipped with Super Chassis, Super Three-Electric Systems, Super Intelligence and Exterior Design, equipped with Huawei DriveONE full suite drive-brake integration architecture, pure-blood rear-drive built with aluminum-hybrid front double wishbone and rear five-link suspension, and WeRide L4 co-source intelligent driving.

AION N60, also part of the '60 Twin Stars', continued to exert force in the national intelligent driving track. After winning both preliminary and final championships in Guiyang Intelligent Driving Competition, it also won the Shenyang station competition. As a model facing young people, the car reached 20,000 users in less than 5 months since launch, cumulatively won the 100,000 to 130,000 yuan LiDAR sales champion for 5 months, bringing LiDAR and L4 co-source intelligent driving technology into mainstream price points.

In terms of technology level, 2027 AION RT relies on GAC self-developed amorphous alloy electric drive, with 8.571kWh/100km energy consumption results, set Guinness World Record. The electric drive core uses amorphous alloy thin strip with thickness of only 0.025mm, jointly tackled by CAS Dongguan Institute of Materials Science and Technology and GAC Group, broke mass production manufacturing barriers and achieved scaled application first, relevant manufacturing processes listed in National 'Prohibited and Restricted Export Technology Catalog', and obtained 2025 Global New Energy Vehicle Only Powertrain Innovation Technology Award. Currently this technology is synchronized to main models such as AION N60, 2027 i60 etc.

While the domestic market bloomed in multiple points, overseas markets have become an important growth pole for Hyper AION. Products continued to land in Singapore, Thailand, Colombia, Saudi Arabia, UAE, etc. markets, rankings firmly stayed at the front locally. In the Greek market, its July ranked second in the pure electric sub-market, August ranked third, forming a growth pattern of domestic and overseas two-way pull.

Facing the current accelerated new car launch rhythm, discussions triggered by shortened development cycles of some models, for consumers, choosing cars focuses more on quality stability and brand longevity. Hyper AION relies on GAC Group system, with characteristics of more after-sales outlets, stable parts supply etc., core three-electric systems are self-developed and self-produced, and tech companies jointly participate in ecosystem construction.

National Day holiday is the window period for families to view and change cars, Hyper AION also launched corresponding car purchasing policies. GAC AION launched 'Good Time Good Festival Buy Good Car, Perfect Ten Perfect Come to AION' campaign, covering multiple models such as i60, N60, RT, UT and V Home, up to enjoy 10 layers of privileges, including up to 8000 yuan trade-in subsidy; during National Day, placing orders also allows participating in 10,000 shares of Compulsory Traffic Insurance and Shopping Card lottery. October 1st to 7th, GAC Hyper launched 'National Day Buy Hyper Duo Good Gifts Draw Continuously' campaign, give large amount car purchase cash coupons or iPhone Duo. Additionally, visiting store in October to test drive can collect 'Good Persimmon becomes Pair' Dried Persimmon Gift Box, limited quantity.

Enter the traditional "Golden September, Silver October" car buying peak season, this year's auto market shows a unique pattern of "slight month-on-month recovery, but year-on-year pressure remains". Industry data predicts September's narrow-sense passenger car retail market size will be about 1.69 million units, a 9.7% month-on-month increase, but affected by last year's high base of 2.241 million units, a 24.6% year-on-year decline. The peak season is unlikely to see the explosive market as in previous years. Under stock competition, only auto companies whose products have truly been polished by the market and continuously iterated can secure their own share of growth.

Under the environment where the overall market is under pressure, new cars are flooding the market, and industry involution intensifies, Hyper AION's September performance report again caught people's eyes: terminal sales 35,494 units, year-on-year growth 21.91%, achieving continuous 7 months of counter-trend positive growth, also re-confirming the system potential released by the BU reform. Not relying on short-term price spikes for volume, but relying on value penetration to penetrate the market, relying on big single products to continuously evolve, new models to take over, and overseas market incremental multi-dimensional drive, walking out a stable upward growth curve in the car market where the big waves wash away the sand.

Looking back at September, multiple main force models continued to exert force. As a phenomenon-level "raised single product", AION i60 welcomed a milestone moment, less than one year after launch cumulative users broke 100,000. September 2027 Model officially refreshed, putting "listening to advice upgrades" into reality, order volume broke 20,000 units. Based on owners' real feedback, new car completed many practical optimizations, such as charging port changed to rear, new 66L front drive trunk, etc., putting the most requested user demands one by one on the ground. Also brought "Tech Major Components" comprehensive refresh, equipped with CATL battery, Snake Battery two kings; Amorphous alloy electric drive, Huawei electric drive two black technologies, more introduced L4-level technology sharing the same source, achieving 100,000 price level 200,000 product experience. Whether daily commute, picking up kids, or weekend family self-driving tour, large space, long range, high safety all maxed out. It is precisely this sincerity of continuous iteration that let it stand firm as the preferred choice for Chinese family new energy SUV, breaking the new car "burns for a while then falls silent" new car death valley effect.

As the "60 Twin Stars" AION N60, continues to shine continuously on the national intelligent driving track. After winning the preliminary and final dual championships at the Guiyang intelligent driving competition, it won the championship again in the Shenyang station competition, and competed with a crowd of 300,000 to 500,000 level high-end intelligent driving models but still broke through in strength. As young people's first national intelligent driving good car, less than 5 months after launch users have broken 20,000, cumulative 5 months won the 100,000 to 130,000 laser radar sales champion, bringing laser radar, L4-level technology sharing the same source to mainstream price levels, letting young people not spend a lot of money, also can have reliable and easy-to-use high-level intelligent driving.

2027 Model AION RT relies on GAC self-developed amorphous alloy electric drive, with 8.571kWh/100km electricity consumption achievement created a Guinness World Record. This electric drive core uses amorphous alloy thin tape with thickness only 0.025mm, jointly tackled by Chinese Academy of Sciences Dalian Material Science and Technology Research Institute and GAC Group, breakthrough mass production manufacturing barriers, first achieve technology scale landing application, related manufacturing processes listed in the national "Prohibited Export Restricted Export Technology Catalog", won the 2025 Global New Energy Vehicle only power system innovation technology award. Currently, this top electric drive technology has been simultaneously popularized to AION N60, 2027 Model i60 and other main force models, continuously practicing the original intention of technological inclusiveness .

Facing the young group pursuing driving control and loving personal expression, Ray series first model Ray7 also welcomed interior premiere, simultaneously launched the pre-enjoyment plan. Users only need 299 Yuan intention deposit, can lock a total of 8,999 Yuan full set of pre-enjoyment rights, more established RC Club (RayRacingClub), for love of control car owners built exclusive car playing circle layer, and limited quantity send drift experience course. Possessing super chassis, super three-electric, super intelligent, super high appearance four points plus, Huawei DriveONE full set drive system fusion architecture, aluminum mixed front double wishbone + rear five-link suspension crafted pure blood rear drive, WeRide L4-level technology sharing the same source all in place, no need to choose, one step to place, Ray7 once released information, just received a lot of young consumer attention, in the future will also become brand new growth booster

Meanwhile, the high-end market is also steadily widening. Hyper S600 as Hyper brand first sports SUV, equipped with only 200,000 within four-wheel drive double cavity air suspension, cornering not shake, hitting bumps not bump, Eagle Claw System 2.0 slippery road steady, power loss long slope same climb; full series standard configuration laser radar, ADiGO GSD 3.0 intelligent driving auxiliary system more understands Chinese roads. Standard configuration super 140 items configuration, configuration high, material fierce, is "200,000 within full-configuration sports SUV". GAC Hyper stick to "Smart Enjoy Life" advocacy, with taste, technology, self-joy, accompany the era backbone rush to high-level

Besides domestic market point blooming, overseas market has already become Hyper AION important growth pole. Products continuously land Singapore, Thailand, Colombia, Saudi Arabia, UAE, market ranking firmly stays local top list; recent in Greece market, July got pure electric sub-market second place, August ranked third place, Chinese intelligent product is continuously winning overseas consumer recognition, forming domestic overseas two-way pulling growth pattern.

Now, new car release rhythm more and more fast, but some model development cycle more and more short, "quick-finished car" triggered many discussions. For ordinary consumers, choosing car fear most not is configuration not enough high, but is quality unstable, brand not long-lasting. At this time, choose a car verified by time, solid system capability, car, than chase one time gimmick more important.

Hyper AION behind is GAC Group, state-owned enterprise system backing, after-sales network many, parts supply steady; core three-electric self-developed self-produced, also have tech giant jointly build ecosystem; 2 million users verified out reliability, indeed not is general auto company able compare. Big wave wash away sand era, priority choose verified by time, large quantity real users test reliable product, is more rational car buying idea.

National Day small holiday arrival, is family viewing car, changing car golden window period, Hyper AION models also prepared rich National Day car buying policy. Among them, GAC AION open "Good Time Good Festival Buy Good Car, Ten Perfect Come AION" car buying welfare activity, covering i60, N60, RT, UT and V Home and many model, up to enjoy ten reward gifts, including up to 8,000 Yuan replacement subsidy; National Day Golden Week period order, more has ten thousand compulsory traffic insurance + shopping card lottery send.

October 1st-7th, GAC Hyper open "National Day Buy Hyper Dual Models Good Gifts Draw Continuously" full series car buying welfare activity, 100% winning, send large amount car buying cash voucher or iPhone Duo, multiple welfare superposition after comprehensive discount up to 75,000 Yuan. In addition, October visit to show room test drive Hyper AION model, can get "Good Persimmons Come in Pairs" Persimmon gift box,

Borrowing Golden September's hot sales momentum and Silver October's welfare add power, this National Day holiday, might as well to offline store personally feel Hyper AION's product charm.

[Auto Market Expert] October 1, multiple auto companies sequentially announced September delivery data. This article only summarizes the information released so far — BYD, Geely, Chery, Great Wall, Changan, etc. have not yet released, the complete layout needs to wait for all data to be released.

Data Released

Three pieces of information worth viewing separately

In Leapmotor's scale composition, overseas accounts for a large share. September global deliveries reached 105,656 units, of which overseas exports exceeded 27,000 units; Jan-Sept 2026 overseas cumulative exports exceeded 150,000 units, sales and service outlets in Europe have surpassed 1,000. As of end of September, Leapmotor's cumulative global deliveries exceeded 1.8 million units.

Zeekr's growth comes from high-end models. Besides the total volume doubling year-on-year, specific model performance was: Zeekr 9X, launched one year ago, monthly sales exceeded 7,000 units (five-seater version production capacity rising), Zeekr 7X broke 10,000 monthly sales for 3 consecutive months, global cumulative exceeded 200,000 units, Zeekr 009 consecutively won sales champion in Malaysia and other sub-segments. Additionally, Zeekr 9X recently landed on the German market with a million-level price point.

Deepal welcomes a brand milestone. On September 28, Deepal's 1 millionth vehicle mass-produced off the line. On the same day, the all-new Deepal S07 AI Laser Edition launched. Products are now sold to over 100 countries and regions globally.

My Opinion: For September, the important information is not growth rate, but a gap

Core Judgment: The data of this month sliced the new forces camp into two segments — Leapmotor stands alone above 100,000 units, the rest are crowded densely in the 30,000–40,000 units bracket. Nearly three times difference between the two, this gap is more noteworthy than any single brand's year-on-year growth rate.

First, Leapmotor's position is no longer "leading", it is a "gap". 105,656 units vs 37,216 units — the difference between 1st and 2nd is about 2.8 times. And Leapmotor didn't rely on single-month volume push: consecutive three months monthly sales over 100,000 units. More noteworthy is the source of this scale: overseas exports exceeded 27,000 units, Europe outlets exceed 1,000, global cumulative deliveries exceed 1.8 million units. This shows it is no longer just "doing well domestically", but has made overseas part of the scale — for a new force, this is a harder task than monthly sales numbers.

Second, the 30,000–40,000 bracket is crowded with four players, but their growth logics differ. Zeekr YoY +103.85%, relying on absolute volume of high-end models (9X monthly sales over 7,000 units, 7X broke 10,000 for 3 consecutive months); Xiaomi over 40,000 units, relying on product line expansion (Pengcheng first month deliveries exceeded 10,000 units, this is the first month of a new series); Li Auto 31,817 units, cumulative exceeded 1.83 million units, relying on stock base; Deepal 30,185 units, 1 millionth vehicle off line, walking the brand node. Similarly over 30,000 units, behind are four different strategies — this also means competition in this bracket will not be about "who grows faster", but who can find a second growth source first.

Third, putting joint venture brands into view, the coordinate system is already different. Dongfeng Honda September 17,932 units, MoM growth 19% — this MoM is a real improvement signal. But put it on the same table, its absolute volume is about 1/6 of Leapmotor's. This isn't comparing who is good or bad, but saying: when new forces' monthly volume levels have reached five-digit or six-digit figures, "MoM improvement" and "scale leadership" are already two different things; using the same evaluation system to measure them leads to wrong conclusions.

So I believe, what this September data truly is worth remembering is not how much each brand increased, but that differentiation has started to show an "order of magnitude gap". In the past few years, gaps between new forces were usually percentage level, this month appeared a multiple-level gap. Next to observe is: whether Leapmotor can hold this volume level, and in the 30,000–40,000 bracket, who will step out first.

Data Still Waiting

·      BYD, Geely, Chery, Great Wall, Changan, etc. have not yet released September sales data; complete rankings must wait for all data release

·      Xiaomi Pengcheng series official first-sales month data will be announced on October 7 (Xiaomi Lei Jun revealed first-month deliveries exceeded 10,000 units is the disclosed basis)

·      Overseas export data for each brand has not been fully disclosed; cross-country comparison is temporarily incomplete

·      Disclosure Note: In the table above, "Delivery Volume" and "Sales Volume" are bases announced by each brand themselves; statistical methods of different brands may differ; direct horizontal comparison requires caution

·      

Summary

October 1, multiple auto companies announced September data. Leapmotor ranked first with 105,656 units, YoY +59%, consecutive three months monthly sales over 100,000 units, of which overseas exports exceeded 27,000 units; Xiaomi over 40,000 units (Pengcheng series first month deliveries exceeded 10,000 units); Zeekr 37,216 units, YoY +103.85%; Li Auto 31,817 units, cumulative exceeded 1.83 million units; Deepal 30,185 units, and welcomed 1 millionth vehicle off the line; Dongfeng Honda 17,932 units, MoM +19%; Huajing S 7,416 units; MG New Energy exceeded 30,000 units.

One point worth remembering this month is differentiation showed an order of magnitude gap: Leapmotor stands alone above 100,000 units, the rest concentrated at 30,000–40,000 units, first and last differ by about 2.8 times. The remaining question is, whether this gap is temporary, or will become the norm.

September 22, 2026, the QQ Show and Friends of TA and the new QQ3 Modern Edition launch event was held at Wuhu Jiuzi Plaza. More than the car debut, what garnered more market attention was a set of continuously rising sales figures: the new QQ3 has surpassed 10,000 sales for 5 consecutive months, with August sales reaching 19,103 units, a 64.07% month-over-month increase; since launch, domestic and international orders have exceeded 100,000, with cumulative orders after pre-sales in Thailand and Indonesia quickly breaking through 20,000. In the current market where competition for quality compact cars is intensifying, the new QQ3 is showing a sales trend with strong performance in both domestic and overseas markets, accelerating its globalization.

Sales exceeding 10,000 for 5 consecutive months mean the new QQ3's popularity is not a short-term surge, but reflects sustained and stable market recognition. The August figure of 19,103 units, with a 64.07% month-over-month increase, further confirms that market demand for this quality compact car is accelerating. This momentum is built on the QQ brand's solid foundation — the QQ series cumulative sales have exceeded 1.6 million units, selling in over 100 countries and regions domestically and internationally. Entering the intelligent electric era, the new QQ3 continues the QQ brand's classic genes, with higher quality, smarter intelligence, and more global product expression, converting the market recognition of the classic IP into tangible sales momentum.

Simultaneous popularity in overseas markets is another key dimension of the new QQ3's sales success. After pre-sales in Thailand and Indonesia, cumulative orders for the new QQ3 quickly exceeded 20,000, with domestic and international orders exceeding 100,000 since launch, forming a dual-track sales trend domestically and internationally. From domestic best-seller to international sensation, the new QQ3 is gaining global love from more users, also providing strong support for the QQ brand's global layout.

Behind the sustained sales success lies the substantial investment the new QQ3 has made in quality. Before entering the global market, the new QQ3 has completed global road testing covering 9 major regions and 44 countries, with the longest single-vehicle test mileage exceeding 300,000 km, and has undergone 1,000+ virtual validations, 2,000+ bench validations, and over 3 million km of vehicle validation. The technical exhibition area set up at the launch event, through exhibits such as white bodies, integral hot-formed door rings, eco-friendly PU foaming cotton, etc., presented the new QQ3 Modern Edition's structure, materials, and design details to users. From the Rock-solid body with 82% high-strength steel content, the 1300 MPa integral hot-formed door ring, to the Rhino battery with CATL cells and six-dimensional electric safety certification, the new QQ3 addresses users' demand for daily commuting safety, implementing it in every commute, pick-up/drop-off, parking, and long-distance travel.

Beyond sales figures, user profiles are also worth noting. Users of the QQ series have distinct Self-pleasing individual characteristics; as of August, female users accounted for 56%. Among owners, there are co-creation users who love modifications and know the young circle, as well as life explorers who take the QQ3 outdoors, and quality testers who deeply experience the vehicle and participate in OTA optimization feedback. With the initial user word-of-mouth continuing to buzz, the new QQ3 is forming a virtuous cycle of "Sales Growth — Word-of-Mouth Expansion — More Sales".

This launch event used "QQ3 Happy Show" as the core concept. Sun Li, Global Spokesperson for Chery Brand / Chery QQ, came to the scene, posing with the new QQ3 Modern Edition, and personally delivered new cars to fans. Stand-up comedians Feng Zihao, Bu Jingyun, and Daozhu resonated with the QQ brand's happy gene through relaxed and hilarious language. The site also centrally presented 6 modified cars and decorated cars, including Chinese-style cars, California Holiday theme, Cat-themed cars, etc., showcasing the QQ3 product temperament of "Playable, Modifiable, Co-creative".

The new QQ3 Modern Edition, based on the new QQ3, takes the Neo Retro design concept as its core, from fully wrapped same-color paint process to Time Badge wheels, Wind Trace Racing Stripes and other exclusive elements, reshaping the modern style of quality compact cars. In terms of configuration, the Modern Edition is equipped with the high-throughput automotive-grade 8155 chip and a 15.6-inch 2.5K ultra-high-definition central control screen, featuring Carmind Large Model, 540° panoramic image, 100+ full-scenario automatic parking, and L2-level assisted driving functions, and 13 class-exclusive configurations including the 70L intelligent electric front trunk and 10-layer cloud comfort seats, building a product value barrier.

Sales exceeding 10,000 for 5 consecutive months, August month-over-month growth of 64.07%, domestic and international orders exceeding 100,000 — the launch of the new QQ3 Modern Edition is based on a set of solid sales data. As the Modern Edition officially reaches users, the globalization acceleration of this quality compact car is expected to take another step up.

The all-new QQ3 Modern Edition is launched, with the press conference held at Wuhu Jiuzi Plaza. This location selection is quite interesting, not an exhibition center, not a hotel ballroom, but a "Lake-Street Integrated" city landmark. Simply put, the message this car wants to convey is clear: it doesn't just want to stay on stage, it wants to drive into real life.

The entire press conference felt more like a "Happy Showground". Guests entered with "QQ SHOW Happy Entry Tickets", passing by the Global Sales Zone, Quality Exhibit Zone, Modified Car Zone, and Modern Edition Display Zone. You could see things usually hidden inside cars like the white body, integrated hot-formed door rings, and eco-friendly PU foam. You could also see 6 modified cars with completely different styles. This "walkable, playable, shareable" flow design is essentially doing one thing: letting users find the answer themselves, rather than the brand forcing conclusions.

Sun Li arrived. As the global ambassador for Chery QQ, her appearance wasn't surprising, but her on-site delivery of new cars to fans shifted the emotional focus of the press conference from a "brand show" to a "user zone". Coupled with the on-stage output from stand-up comedians Bu Jingyun, Feng Zihao, and Daozhu, the language system of the entire event was relaxed, internet-savvy, and unpretentious. This aligns with what the QQ brand has always talked about: its "happy gene".

But atmosphere alone isn't enough; the car itself must stand firm.

First, let's talk sales. In August, the all-new QQ3 sold 19,103 units, a 64.07% month-on-month increase, achieving sales over 10,000 for 5 consecutive months. In overseas markets, Thailand and Indonesia pre-sales cumulative orders exceeded 20,000, and since launch, overseas and domestic orders have surpassed 100,000. The QQ series cumulative sales are 1.6 million+, selling well in over 100 countries and regions. These numbers tell one thing: the QQ3 doesn't survive on nostalgia; it is supported by real purchasing power in both domestic and international markets.

Then quality. Before the all-new QQ3 headed to global markets, it completed global road tests covering 9 major regions and 44 countries. The longest test mileage per vehicle exceeded 300,000 kilometers, plus 1,000+ virtual validations, 2,000+ bench validations, and over 3 million kilometers of vehicle validation. Showing the white body and hot-formed door rings directly to users at the press conference isn't common in the industry, but it is effective. Quality is something you can't just talk about; you have to show people.

Design is the most intuitive differentiation for this car. The all-new QQ3 Modern Edition is based on the Neo Retro design concept, integrating retro-futurism on the foundation of square and round aesthetics. Full coverage color-matched paint, time badge wheels, wind track racing decals, Golden Age grille, gilded chrome trim, retro white front and rear bumpers. These elements combined form a complete modern appearance system. The paint used is Kansai and PPG's 6-layer 2K high-quality car paint. Official data states aging gloss loss is controlled within 5%, while the industry standard is 20%. Theoretically, it can last 10 years without fading.

Regarding the interior, Cloud Velvet Beige is the base, houndstooth textures accent the center console and door panels, and velvet covers the roof and A/B pillars. These details on a small car definitely elevate the sense of refinement to a higher level.

The modified car zone is another highlight of this press conference. Chinese Style Small Car, California Holiday, Cat Car, Hand-painted Car, Urban Safari, Outdoor Mountain Tour. The 6 cars correspond to 6 lifestyles. The Chinese Style Small Car takes a low-key Chinese style route, pale fog blue with soft fog pink plus red plum patterns; California Holiday directly applies island car stickers, roof tents, surfboards, and a trunk coffee machine bar; Cat Car uses fur wrapping to create a small kitten shape, and planned a dedicated cat storage area.

The message these modified cars convey is clear: the QQ3 is not just a commuting tool; it is a "single item" that can be redefined by users.

User profiles also confirm this. As of August, women account for 56% of the QQ series users. Among owners, there are co-creation users who love modifications, explorers who take QQ3s outdoors, and quality testers who deeply participate in OTA feedback. The common characteristic of this group is "pleasing oneself"; they buy cars not to meet others' expectations, but to make themselves comfortable.

Back to the original question: Why did this small car achieve sales of over 10,000 for 5 consecutive months?

The answer from the QQ3 Modern Edition is: build on globally verified quality, establish differentiation with recognizable design, open up gameplay with modifications and co-creation, and finally bring these people together with a press conference that isn't pretentious. It didn't try to please everyone, but rather perfected the act of "pleasing oneself".

In a small car market where configuration, price, and parameters are constantly competed on, the QQ3 Modern Edition chose a slightly different path: first make happiness real, then sell the car well.

August 2026, Chery Group sold 280,128 cars, up 15.4% year-over-year. Among them, new energy vehicles reached 120,909, up 69.8%, breaking through 100,000 units for 5 consecutive months; exports were 196,984, up 52.1% year-over-year. Cumulative sales from January to August totaled 1,914,481, up 10.8% year-over-year.

The automotive market is fiercely competitive this year, with price wars lasting years showing no signs of fading. Joint ventures are retreating or shrinking, while some new entrants are still burning money to boost volume. In such an environment, Chery maintaining double-digit growth with both export and new energy lines performing well is indeed impressive.

However, looking closely, the core driving force behind these results lies not in marketing or price wars, but on the product side – it is the depth of the product matrix that supports synchronized growth in both domestic and overseas markets.

Stable output from the new energy series relies on "full price coverage"

In August, Chery New Energy sold 120,909 units, a 69.8% year-over-year increase, standing at the 100,000-unit milestone for the 5th consecutive month. Behind this number is not a breakout single model, but stable output from the entire new energy series.

Let's look at a few specific products.

Fengyun T7, a global quality pure electric SUV launched in August. After 2 years of planning, 3 years of R&D, and over 6 million kilometers of global testing and validation, orders surpassed 23,000 within 24 hours of launch. As is well known, pure electric SUVs are currently the most competitive niche market, without a doubt. Being able to win in this red ocean to some extent proves that Fengyun T7's product positioning fits the needs of the target market.

All-new QQ, with sales breaking 10,000 for 5 consecutive months, locking in a spot as a star product in the A0 class. What does A0 class mean? Low unit price, thin margins, many competitors; it is the price segment that best tests cost control and product foundation. The fact that the All-new QQ can stand firm shows that Chery's system capability has been verified in the entry-level market.

Looking upwards, the Luxeed V9 cumulative deliveries exceeded 20,000 units, refreshing the fastest delivery record for the 500,000 RMB new energy MPV segment. The 500,000 RMB tier is a price band domestic brands once didn't dare to touch.

Putting these cars together, you will find: from the tens-of-thousands QQ, to the Fengyun series for mainstream families, to the 500,000 RMB Luxeed, Chery's new energy products cover different price segments, with family users, young users, and high-end users finding what they need. This is how the monthly domestic new energy penetration rate continuously breaks through 60%.

This is the difference between "series-based operations" and "single product blockbusters." Single product blockbusters rely on luck, while series output relies on the system.

Fuel and New Energy, Supporting Overseas Markets

Exports are Chery's real trump card. In August, Chery exported 196,984 units, up 52.1% year-over-year. From January to August this year, cumulative was 1,343,334 units, up 68.1% year-over-year. As of August this year, Chery Automobile cumulative exports have surpassed 7 million units, the first Chinese automaker to achieve this.

Why Chery? I think the answer comes down to two words: pragmatism.

1. Recognized the actual pace of the overseas market. European media constantly shout about electrification, but the electrification pace in most global markets — the Middle East, South America, Southeast Asia, Africa — is much slower than imagined; fuel cars are still an absolute necessity. In recent years, many domestic automakers radically cut fuel car product lines, betting all resources on pure electric. Chery did not follow the trend, continuing to cultivate its fuel product line and steadily advancing new energy. The result is fuel eats the current volume, new energy earns future potential, walking on two legs, not fearing wind from either side.

Second, product matrix layered, adapting to local conditions. Consumers in different countries have different road conditions, usage habits, and purchasing budgets. Chery's approach is not to simply move domestic products abroad, but to perform localization adaptation, using a rich vehicle matrix to match market demands in different regions. Low-cost markets have economic products, mature markets have quality products, interconnected.

How is the effect? We can look at Chery's performance in the European market. Data shows, from January to July this year, Chery sold over 208,000 units in 24 European countries, up 201% year-over-year; among them new energy exceeded 101,000 units, up over 3.3 times. In the UK market, JAECOO 7, JAECOO 5, OMODA 5 three models broke into the UK top 10 best-selling vehicle list. According to China Passenger Car Association data, from January to July, Chery New Energy cumulative exports ranked second in the industry.

It is worth noting that Europe is one of the markets with the highest thresholds and most competition globally. This 201% growth rate indicates that Chery's product strength has passed the test of the most picky users.

Additionally, JAECOO 5 became the sales champion in the Australian niche market, and pure electric markets in Indonesia and Thailand; iCAUR V23 ranked first in niche markets in Thailand, South Africa, etc. This shows Chery's products have been validated by the market in multiple countries globally.

Product strength is the true moat

In the end, sales growth is essentially product strength being recognized by global users. Where does product strength come from? From R&D.

Chery is willing to spend on R&D. In 2025, Chery R&D investment was 14.715 billion yuan, up 39.6% year-over-year. This number ranks third among Chinese automakers, second only to BYD and SAIC.

Where was the money spent? Kunpeng Power, fuel, hybrid, pure electric, hydrogen energy four-in-one. Kunpeng Super Power Hybrid C-DM, thermal efficiency greater than 44.5%, fuel consumption per 100km with depleted battery as low as 4.2L, comprehensive range over 1,400 kilometers. On the intelligent level, Chery has Falcon Assist Drive, Lingxi Smart Cockpit, Flying Fish Digital Smart Chassis, etc., and these advanced technologies are already installed on mass-produced cars.

The effect is also visible. In full year 2025, Chery sold 903,847 new energy vehicles, up 54.9% year-over-year. Moreover, among all new products launched in 2025, new energy accounted for over 90%. Looking at Chery's August data again: new energy broke 100,000 for 5 consecutive months, exports up 52.1% year-over-year. This shows Chery's product matrix has continuous ability to generate vitality.

On the other hand, Chery New Energy is currently transitioning from scale expansion to a new stage of value growth. In the first half of 2026, Chery Automobile new energy business revenue reached 59.284 billion yuan, up 63.8% year-over-year, accounting for a share of total revenue rising from 25.6% to 41.4%.

R&D investment turns into technology, technology turns into products, products turn into sales. This closed loop is operational.

In the future, Chery will use intelligent electrification technology to stand firm in the global market. Domestically relying on new energy matrix to hold the position, overseas relying on fuel and new energy walking on two legs to expand the territory.

Product-oriented, let products speak. This sounds simple, but in today's automotive market relying on traffic, buzz, and subsidies, it turns out to be the most solid path. Chery's August scorecard proves one thing: Do products well, and the market will give you the answer.

According to the latest sales data statistics by overseas blogger @piloly, as of August 2026, Tesla's cumulative sales in 14 countries globally this year have all exceeded the full year of 2025.

Specifically, these 14 countries include South Korea, France, Australia, Germany, Japan, Colombia, Thailand, New Zealand, etc., covering multiple regions such as Asia, Europe, Oceania, and South America.

Among them, as of August this year, Tesla's cumulative sales in the South Korean market have surpassed 76,000 units, with monthly sales again breaking 10,000, and ranking first in South Korean imported car sales for 7 consecutive months starting from February this year. In August, the Model Y also surpassed multiple popular local South Korean models, becoming the best-selling passenger car locally.

Similar to the South Korean market, the French market was previously dominated for a long time by French local brands such as Renault. Tesla has achieved rapid sales growth with strong product capabilities. From January to August 2026, Tesla's cumulative sales in France reached 36,000 units, a year-on-year growth of 148%. The Model Y became the best-selling model across all categories in France twice in June and August this year.

In the Australian market, Tesla's total delivery volume in August increased by 163% compared to the same period last year. This year, the Model Y became the best-selling model across all categories in the Australian market three times in May, June, and August successively.

Apart from solid sales data, the real choices of owners also continue to prove Tesla's hot-selling strength. Owner @teslafamilylog shared their family experience: Since mom bought the first Model 3, the whole family quickly became fans of Tesla. He and his brother and dad then purchased 3 more cars successively, and the four cars directly covered the whole family's travel.

A domestic MPV has been in Thailand for less than half a year, in August it directly claimed the top sales spot, selling 897 units, finally pushing the perennial market leader Toyota Alphard/Vellfire to second place with 477 units. This car is the Wuling Starlight 730, called Starlight Darion EV in Thailand. Let's look at the data, the 2025 Thailand MPV full-year sales champion was the Toyota Alphard 5,438 units, the Starlight 730 was only officially launched in Thailand in March 2026, began delivery at the end of April, until July only sold 157 units, the result of August directly reached 897 units, monthly sales nearly 6 times growth directly surged to first place, this explosive power is too strong. Why can it explode? Actually there are 2 reasons, product fits the market, price is right.

Thailand is a typical multi-member family society, having 3-4 generations go out together is normal, large 7-seater MPV is a must-have. Starlight 730 car length 4.91 meters, wheelbase 2.91 meters, 2+2+3 true 7 seats, electric sliding doors, elderly and children getting on and off car convenient, fully stepped on Thai family demand. In terms of power 150 kW front-drive motor, 69.2 kWh LiFePO4 battery, NEDC range 500 km, charge from 30% to 80% less than 20 minutes, Thailand so hot weather, turn on AC not too worried. Most critical is price, 839,000-899,000 Baht, converted to RMB about 168,000-180,000.

The same level Toyota Alphard in Thailand start price already exceeds 3 million Baht, almost is Starlight 730 three times more, also long-term markup, oil price now fluctuates so much, you say Thai family who not willing to spend little money to do big things, same is large 7-seater MPV, Starlight 730 configuration still higher, price only one third, so August championship not accidental, is natural, Japanese MPV one third price, give to larger space, more complete configuration and lower usage cost, just hit Thai ordinary family pain point, this is Chinese new energy vehicle going global occupy Southeast Asian market logic.

Avatr's recent management adjustments have sparked considerable discussion within the industry.

According to relevant reports, Wang Hui, Executive Vice President of Changan Automobile and Chairman of Avatr Technology, will shift his focus to the group's global business next, leading the Southeast Asian and Central & South American markets; Chen Zhuo, who was promoted to Vice President in June this year, will take on more of Avatr's daily operations and business advancement. It needs to be stated that currently, Wang Hui remains Chairman of Avatr Technology and Executive Vice President of Changan Automobile, overseeing a portion of overseas business.

At first glance, this is a conventional matching of personnel to roles — Wang Hui already has senior experience in overseas business, so doing familiar work is natural; Chen Zhuo, as part of the younger generation of management, taking over a high-end brand also aligns with the training rhythm. However, combined with Avatr's current development stage and Changan's overall performance situation, behind this adjustment lies the current development situation of the brand and the group.

Three-party resources support, brand still in ramp-up phase

As a high-end new energy brand jointly built by Changan, Huawei, and CATL, Avatr's starting point can be said to be quite high. Manufacturing, intelligent technology, and battery — the three core links, all supported by industry top players, market expectations were maxed out when the brand first launched.

But developing to now, the brand is still in the ramp-up investment stage. Financially, cumulative losses from 2022 to 2025 exceeded 13.2 billion yuan, not yet exiting the loss period of the investment phase. In terms of sales, cumulative deliveries in the first half of this year were about 27,619 vehicles, a 51.3% year-on-year decrease. The annual target of 220,000 vehicles set at the beginning of the year was only 12.6% completed in half a year, the progress gap is relatively large. It is worth knowing that the domestic new energy market overall still maintained growth this year, Avatr's development pace has opened a considerable gap with the overall industry trend.

Wang Hui completes multiple strategic frameworks

Internally, he deepened the three-party strategic cooperation, established a full set of integrated development models, and also led the investment matters in Huawei's Yinwang Company. In November 2025, the cooperation with Huawei was upgraded to the HI PLUS joint co-creation model, no longer simply technology supply, but collaborative across the entire value chain from user insights, product definition to R&D, integrated marketing, and team building.

Externally, he clarified the global development logic for Avatr, promoted the brand entering global 34 country markets, and planned to expand the market scope to 46 to 50 countries in 2026.

However, these top-level layouts are currently still in the process of gradual implementation and have not yet been fully converted into tangible terminal sales and operating performance.

And the cooperation with Huawei also has topics that need to be sorted out in the long term. Currently, Huawei cooperates with multiple car companies at different depths. Avatr how to find its own positioning within Huawei's cooperation map, and strive for more adaptive resource allocation, is a matter that needs to be continuously explored in the brand development process.

In terms of capitalization, Avatr's HK listing is also being promoted. In November 2025, the company first submitted a listing application to the Hong Kong Stock Exchange, did not complete the hearing process within the specified time, and the application automatically expired on May 27, 2026; on June 30, the company resubmitted the listing materials, currently in the audit promotion stage, the specific listing schedule has not yet been clarified.

Overseas growth momentum is good, but also faces competition and localization challenges

In the first half of this year, Changan's overseas sales reached 455,000 vehicles, a 51.9% year-on-year increase; overseas revenue was 21.942 billion yuan, a 78.77% year-on-year increase, accounting for the proportion of total revenue from 16.89% in the same period last year to 33.43%. More importantly, the gross profit margin of overseas business reached 20.13%, significantly higher than the domestic business 11.67% level, having become an important growth and profit support for the group.

But behind the good-looking data, there are also many realistic challenges. First is market competition, Southeast Asia, Central & South America and other regions, now Chinese car companies are all accelerating layout, BYD, Geely, Chery, Great Wall and other brands have already entered, market competition continues to intensify, long-term gross profit margins face downward pressure.

Second is the difficulty of localization implementation. When Wang Hui was responsible for Southeast Asian business before, he proposed a target that the localization rate of Thailand factory would reach above 80%. But supply chain building, local talent training, compliance system construction and other work, all need long-term time and capital investment, the process of target landing is not easy. If the localization progress falls short of expectations, cost advantages will also be affected.

So this time letting Wang Hui manage some overseas business is also hoping to leverage his past experience to further consolidate the development foundation of the overseas market and consolidate the growth momentum.

Chen Zhuo takes over, the core is to grasp landing execution

Chen Zhuo, who took over Avatr, was just promoted to group vice president in June this year, and will face multiple realistic topics in the brand development process next.

Current Avatr does not lack top strategic frameworks, nor lacks three-party resource backing, but the operational work to make up is still many: how to narrow losses, how to improve terminal sales, how to smoothly promote the listing process, are all very practical problems. Brand positioning is high-end market, how to convert technical and resource advantages into product power perceived by consumers, how to improve brand volume and channel efficiency, are the key points that operations need to push.

After all, the previous stage was more about setting directions and building frames, next more tests are landing ability and refined operations. Especially in the three-party cooperation mode, how to coordinate the resources of all parties well, improve collaboration efficiency, let cooperation value fully release, very tests the new management team's operation ability.

As a core member of the Changan new generation management, Chen Zhuo's takeover has also injected new execution power into the brand, but from strategic planning to market results, there are still many links that need to be connected in between.

The logic of group layout behind the adjustment

This personnel adjustment, after all, is also a resource re-layout of Changan in the industry adjustment period.

In the first half of this year, Changan Automobile revenue decreased by 9.71% year-on-year, net profit attributable to shareholders decreased by 64.32% year-on-year. Domestic car market competition continues, price war background domestic business gross profit margin narrowed to 11.67%, profit pressure has appeared.

Avatr as Changan layout high-end new energy important carrier, currently still in investment period, not yet into profit contribution stage, continuous capital investment for the group is also a huge consumption.

So the logic of this wave adjustment is also clear: put the executive with the most experience to the overseas market with the highest growth certainty, guard the basic disk; let young managers operate high-end brands, promote landing execution. One side takes care of current performance stability, one side lays out long-term brand upgrade, is a very pragmatic development idea.

For Avatr, the big direction and framework are basically formed, next fight is refined operations and landing ability. This management team adjustment can bring how many changes, finally still has to look at product performance and market feedback.

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In August 2026, Deepal Cars maintained a steady trend, achieving global sales of 28,659 units, with cumulative global sales surpassing 947,600 units, steadily approaching the million-unit sales milestone. As Deepal's global bestseller, the Deepal S05 achieved 17,474 units in global sales this August, a year-on-year increase of 43.42% and a month-on-month increase of 24.29%. Since launch, monthly sales have exceeded 10,000, cumulative global sales exceeded 260,000 units, firmly establishing itself in the first tier of 150,000-class compact new energy SUVs. The new Deepal S05 is also selling well since launch; this is both a powerful echo of the market's response to Deepal S05's continuous evolution and another proof of technological equity taking root in the mainstream market.

Lidar Downs to 150,000-Class, Technological Equity Blossoms

The all-new Deepal S05 brings Lidar and one-piece end-to-end algorithms to the mainstream 150,000-class home market at once, making smart assisted driving that once belonged only to high-end models accessible daily for more families. The new car is equipped with the Tiandu Pilot Smart Driving Assistance System, featuring 27 high-precision perception hardware units including one Lidar across the vehicle. Paired with dual Horizon J6M chips and Tesla's similar one-piece end-to-end algorithm, the vehicle possesses prediction and decision-making capabilities closer to human drivers. The system supports over 90 assisted driving functions, easily covering daily high-frequency scenarios such as urban areas, highways, and parking; the industry-exclusive full-scenario roaming assistance allows easy travel even in map-free environments, further expanding the application boundaries of smart driving assistance.

Inside the cockpit, the new car is equipped with the industry-leading 3nm automotive-grade cockpit chip, matching the process of top global mobile phone chips, leading the industry by 3-5 years; combined with four-map fusion real-scene lane-level navigation, a 15.6-inch 2.5K Sunflower Screen, 18-speaker sky surround sound, and deep-thinking smart AI voice interaction, making family travel both high-tech and fun.

FSD+HRS Advanced Variable Adaptive Suspension, Resolving Family Travel Pain Points

Addressing the ride comfort that young family users care about most, the all-new Deepal S05 comes standard with FSD+HRS advanced variable adaptive suspension, leading the 150,000-class segment. This system can sense road conditions in real-time and automatically adjust damping, providing sufficient support during cornering to suppress roll, and automatically softening when passing bumpy roads to filter vibrations. Combined with HRS hydraulic rebound buffering technology, it effectively eliminates fine bouncing and residual shocks. No nose dive during braking, no body roll during cornering, no bumps on rough roads. Every trip for the whole family is steady and calm, seniors don't get carsick, and children can sit comfortably.

In terms of power, the new car offers two pure electric versions of 520km and 620km (CLTC), with 0-100km acceleration in 6.28 seconds; the entire series comes standard with 3C ultra-fast charging, with 30%-80% charging time not exceeding 15 minutes. Combined with the globally first wide-temperature micro-core high-frequency pulse heating technology and heat pump air conditioning, charging time is reduced by 55% and range increased by 21 km in -30°C environments, allowing users to depart with peace of mind regardless of winter or summer.

New Technology Sports Aesthetics, Interpreting Fashionable Light Luxury Texture

Design and quality are also key to winning over young families with the all-new Deepal S05. The new car continues the Interstellar Wings 2.0 design language, adding full-body flowing light trim lines, fluid dynamic dual waistlines, and 18-inch "Stellar Vortex" sports wheels. Combined with frameless doors and semi-hidden mechanical door handles, it integrates pioneering sports posture with practical safety. Inside the cockpit, a new Nebula Purple interior color is added, forming three interior choices together with Thermal Wave Orange and Star Rock Grey; the entire cabin is 99% covered in high-grade leather, combined with high-grade wood texture decorative panels and 256-color floating surround ambient lighting, making light luxury texture accessible.

Champion Selection, 260,000+ Global Users Confirm Quality

Gymnastics Olympic Champion and Full Sweep Winner on Uneven Bars, He Kexin, as the first celebrity owner of the all-new Deepal S05, a two-time champion known for "stability" and "accuracy" on the competition field, also upheld champion-level rigorous standards when choosing a car. The all-new Deepal S05 won her high recognition with its solid chassis texture, flexible and practical storage space, and comfortable riding experience. The champion's rigorous selection also becomes the most powerful testament to the product strength of this "Global Fashion Laser Smart SUV".

As a pioneer of Deepal's "Embrace All Rivers" plan, Deepal S05's global map has expanded to 73 countries and regions, with overseas monthly sales steadily breaking 6,000 units. In the overseas market, Deepal S05 successively won authoritative honors such as the German iF Design Award and Thailand's Best Rear-Drive Compact Electric SUV of the Year; domestically, it secured the No. 1 position in J.D. Power 2026 China New Energy Vehicle New Car Quality Research Compact Pure Electric SUV. Multi-dimensional recognition of sales, reputation, and professional honors both domestically and internationally makes Deepal S05 not only a hot-selling product but also a core carrier for Deepal Cars to push Chinese new energy technology to the world.

Continued Hot Sales Since Launch, Starting a New Global Journey

The continued hot sales of the all-new Deepal S05 since launch are the inevitable result of Deepal Cars' long-term adherence to technological equity and deepening user needs. It not only made upgraded configurations such as Lidar, one-piece end-to-end algorithms, 3nm automotive-grade cockpit chips, and FSD+HRS advanced variable adaptive suspension, change from high-end exclusives to 150,000-class mainstream choices, but also allowed more users to enjoy upgraded experiences at mainstream prices. On the new starting point of Deepal Cars sprinting to one million users within the year, the all-new Deepal S05 will add new momentum for Deepal Cars to accelerate leading the global new energy track.

In the past, joint venture cars always dominated China's domestic automotive market. Even after domestic car brands gradually rose, they were long left behind in terms of sales. However, with the emergence of New Energy Vehicles, the landscape of the domestic car market underwent a transformation. After years of development, domestic New Energy Vehicles have surpassed joint venture NEVs in both quantity and sales.

Apart from performing notably in the domestic automotive market, many domestic car brands have opened up overseas markets, selling domestic New Energy Vehicles to the world. For example, BYD Motors, which performed outstandingly in the domestic New Energy Vehicle market, also achieved solid performance in overseas markets. Recently, BYD announced its sales data for overseas markets. As of August, the sales volume of passenger cars and pickup trucks under the BYD brand in overseas markets reached 189,000 units, up 136% year-on-year. Compared to the same period last year, this added a sales volume of over 100,000 units, continuously breaking sales records for five consecutive months. In addition, BYD's total overseas sales from January to August were 1.158 million units, surpassing the 1.0496 million overseas sales data for the entire year of 2025.

Currently, BYD has achieved the top spot in New Energy Vehicle sales in countries such as Thailand, Singapore, Italy, Saudi Arabia, the UAE, South Africa, Brazil, and others. In addition, BYD has gained recognition from high-level officials of multiple countries through its strength. Recently, US Treasury Secretary Bessent mentioned BYD during a speech at the Charlotte Economic Club event, stating, "BYD is the best car worth $70,000 that consumers can buy for $35,000." Besides Bessent's public mention, after experiencing the Yangwang U8, California Governor Newsom also called it a breakthrough technology for the new era. Additionally, Uzbekistan awarded the "Friendship Medal" to BYD; furthermore, Brazilian President Lula, Thai Prime Minister Anutin, former Chilean President Piñera, and other high-level officials from multiple countries praised BYD's innovative technology.

The main reason BYD has been able to obtain positive evaluations from officials of multiple countries is that BYD has achieved independent and controllable capabilities in the core areas of New Energy Vehicles—batteries, electronic controls, and motors. Therefore, pricing is naturally controllable, reshaping the pricing logic of the automotive industry, so BYD can be said to have won global recognition with its product strength!

Discussing how to evaluate BYD's August 2026 sales exceeding 440,000 units, a year-on-year increase of 17.84%? First, state the viewpoint: this sales figure must be viewed dialectically. Flash charging boosted sales explosion; behind BYD sales exceeding 440,000 units is global market competition driven by technological change.

Overseas markets were the biggest highlight in August. Overseas sales of 189,000 units saw a year-on-year increase of 134.6%, breaking records for five consecutive months. Cumulative overseas sales from January to August of 1.158 million units have already exceeded the full year of 2025. BYD adopted an industrial going-global strategy by building factories in places like Thailand, Hungary, and Brazil. According to the "2026 H1 China Auto Going Global Insight Report" jointly released by CAITC and Yiche, BYD ranked first in market share in the Italian PHEV market in the first half of the year. Dolphin MINI retail sales were close to 30,000 units, firmly maintaining market first place. UK sales in the first half of the year were 38,000 units, nearly doubling compared to the same period, while Australia's June market share reached 13.5%, setting a new historical high, ranking second in sales for three consecutive months, with 3 model lines entering the top 10 for the first time.

Staying at the top of the new energy sector for 63 consecutive months, what does this record mean? It is the dominance established by BYD starting from April 2021. In over five years, regardless of market fluctuations or fierce competition, BYD has always stood at the top of the industry. BYD employs about 110,000 R&D personnel, making it the automotive enterprise with the most R&D personnel globally. Blade Battery, DM-i Super Hybrid, YiSifang Platform, 2nd Gen Blade Battery, and Flash Charging Technology, every technical innovation is continuously widening BYD's moat.

Battery Electric Vehicle (BEV) sales leading Plug-in Hybrid (PHEV) significantly for the first time is a positive signal. BEV sales in August were 256,000 units, PHEV were 177,000 units, with BEV accounting for 59%. The increase in BEV proportion indicates that Blade Battery and Flash Charging Technology are mature and charging infrastructure is well-established, but on the other hand, it reflects intensified competition in the PHEV market. From the competitive landscape of the China New Energy Sales List, the data of 440,000 units leading by a large margin shows a lead of nearly 250,000 units over the second-place SAIC. While predicting, we see intensified competition in the new energy market. Geely's August exports were 110,000 units, a 205% year-on-year surge, with cumulative January to August exports of 691,000 units, up 170% year-on-year. Chery's August exports were 197,000 units, accounting for 70.3%, with cumulative exports breaking 7 million units, firmly holding the champion position in Chinese automaker exports.

Technical innovation is BYD's ace card. 2nd Gen Blade Battery charges well in 5 minutes, fully charged in 9 minutes. 10,000 Flash Charging stations cover 332 cities. In terms of intelligence, Divine Eye 5.0 City Navigation + Intelligent Parking provides dual backup. The underlying competitive moat includes the systematic capabilities of 110,000 R&D personnel and 900,000 employees, and fully independent R&D and large-scale mass production of the entire industry chain including chips. Next, we will watch the capacity ramp-up of Flash Charging Batteries and the application of the 4nm smart driving chip Xuanji A3 in vehicles.

From the product structure perspective, the gold content of 440,000 units is constantly increasing. August data shows Tang EV broke 10,000 units for the second consecutive month, Qin MAX sales exceeded 10,000 units, Yuan Family sales were 84,000 units, Seal Family 47,000 units, Sea Lion Family three major series monthly sales all broke 10,000 units. Blooming in multiple points indicates BYD has broken the dependence on a single hit model, forming a complete product matrix covering the 70,000 to 300,000 price range. In August, Fang Cheng Bao and Denza combined sales were 58,000 units, more than doubling compared to the same period last year. Fang Cheng Bao sales were 42,000 units, up 155.6% year-on-year, becoming the sales leader among new forces brands with an average price over 200,000. BYD is breaking through upwards.

The performance of high-end brands is commendable. Fang Cheng Bao 42,000 units, up 155.6% year-on-year, became the sales leader among new forces brands with an average price over 200,000. From the industry chain perspective, BYD's full industry chain vertical integration is a unique advantage. Batteries, motors, electronic controls, and chips are self-controlled and can also be exported. Where are the future growth points? Product reserves are indeed rich. New cars such as Denza Z9S, Da Han, Sea Lion 08, 3rd Gen Tang, Titanium 9, etc., cover the 200,000 to 1,000,000 price range. Of course, there are strong rivals surrounding every sub-market. Whether BYD's complete product matrix can win in every sub-market needs market verification.

How will sales go next? Xiao Xing made a simple prediction using algorithms. The process of switching from fuel to electricity is accelerating, and the market share of traditional fuel cars is being rapidly eroded. An important turning point for China's automotive industry from trading market for technology to trading technology for market. When BYD's monthly sales exceed 440,000 units, former monarchs like Tesla, Volkswagen, and Toyota must face the rise of China's new energy vehicle enterprises.

What we see is the shock and attention of foreign media towards BYD entering the top 5 annual sales for the first time. Especially when BYD's first K-car model Sea Otter entered Japan, it caused a sensation among the media. If looking at the year-on-month sales trend changes, we can find the beginning of 2026 looks very similar to 2024. Due to production capacity and market environment factors, although the start was slow, the second half of the year ushered in robust and high-speed growth in production and sales. And looking at the months where BYD's sales exceeded 400,000 units so far, there are 11 in total. Coincidentally, they appeared in the year-end period from September to December in both 2024 and 2025. The reason 2026 is special is that the 400,000 unit sales target was achieved earlier than before; this capacity ramp-up was clearly visible since June. Let's wait and see the development trend of the last four months.

Overall, BYD's August 2026 performance of 440,000 units, with a year-on-year increase of 17.84%, is a report card with highlights that must be viewed dialectically. Highlights lie in overseas volume explosion, high-end volume increase, technology leadership, and systematic capabilities. BYD's path to global rise depends on whether it can find a new balance point between technical innovation, brand upward movement, overseas deep cultivation, and cost control. The competition in China's new energy vehicles has shifted from grabbing land in the incremental market to close-quarters fighting in the stock market. Flash charging boosted sales explosion; BYD's 440,000 monthly sales achieved a phased victory.

August sales hit 440,000 units, BYD takes China auto sales champion title again

Others worry about orders, it worries about batteries

To be honest, seeing "440,000 units, +17.84% YoY, once again first", this result is not unexpected. The truly worth pondering is another question: 440,000 units, is this BYD's ceiling?

In total volume, BYD sold over 440,000 NEVs in August, ranking #1 in China NEV sales for 63 consecutive months. Dynasty, Ocean bases are stable: Yuan series 84,000, Seal 47,000, Sea Lion three series all exceed 10,000, Tang EV, Qin MAX continue to exceed 10,000.

This is all basic, nothing much to discuss, there are 2 obvious changes.

First is overseas. August 189,000 units, +134.6% YoY, fifth consecutive month breaking record; first 8 months cumulative 1.158 million units, already exceeded full year 2025. Some say "Is it piling cars at the dock" — people thinking like that, probably haven't checked customs export data, nor looked at license plate registrations in Brazil, Thailand. Tang L renamed Atto 8 exported to Mexico, Middle East, Brazil, equivalent to 450,000-500,000 RMB, more expensive than domestic. This is real premium pricing.

Second is premium. Fang Cheng Bao 42,000 units, +155.6% YoY, single month exceeded Zeekr, Li Auto, AITO, Xiaomi, became sales champion among new EV brands with average price over 200,000 RMB; Denza 16,000 units, +33.4%. These two added up, 440,000 units, might not have reached BYD's true ceiling.

Because FinDreams Battery capacity is still being bottlenecked. When Gen 2 Blade first went into mass production, cell yield rate was only 60%~70%, production line capacity was 0 during retrofitting, belonging to dismantling, building, producing simultaneously. 12 bases retrofitting lines simultaneously, relying on core team running back and forth, capacity could only climb steadily. Fast charging boosted sales explosion.

Understood this way makes sense: Demand side orders exploded — sub-brands fighting for battery quotas, execs stationed at factory urging orders; Supply side is squeezing toothpaste — new cars parked in open lots waiting for battery packs, battery arrives then can go off line. Run after capacity and still sell 440,000, exactly shows demand is really hard.

Wait until line retrofit completed, yield rate maxed out, Gen 2 Blade capacity released again, that month sales, is BYD's true trump card.

So the question arises: Wait until that moment truly arrives, what will BYD's monthly sales be? 500,000, or more?