China’s new-energy vehicle market showed a sharp September split. Six of the ten largest challenger brands posted year-on-year declines, while BYD and Geely did the opposite where it matters most: outside China.
Leapmotor tops 100,000 again, exports a quarter
Leapmotor delivered 105,700 vehicles in September, up 59 per cent year on year and 2.5 per cent month on month, its third straight month above 100,000 and a fresh record. For the first time it disclosed overseas volume: more than 27,000 units exported, implying roughly 78,700 sold at home. Its A, B, C and D series all contributed, and the new A05 lifted momentum after an August launch.
Xiaomi and XPeng both cleared 40,000. Xiaomi passed 40,000 for the first time and, on the strength of its Pengcheng range-extender SUV, outsold Harmony Intelligent Mobility in a single month for the first time since deliveries began. Pengcheng alone delivered over 10,000 in its first month. Harmony Intelligent Mobility fell to about 37,500, down nearly 30 per cent, as a key model changeover delayed order conversion.
Zeekr delivered 37,400 and the NIO group 35,500, both up year on year. Inside NIO the brands diverged: the NIO brand rose 55 per cent to 21,300, Firefly 26.9 per cent to 7,327, while Onvo dropped 40 per cent to 8,763. Li Auto, Deepal and Voyah all slipped.
BYD and Geely win the export lane
Among traditional makers, BYD sold more than 460,000 vehicles, up 17 per cent year on year and 5.3 per cent month on month, with overseas sales of 179,900 jumping 153.9 per cent. Geely moved 292,200 units, up 7 per cent, with exports of 106,700 up 162 per cent. Great Wall sold 114,900, down 14 per cent, though overseas still passed 60,000 and its passenger volume was overtaken by Leapmotor.
The home market told a colder story. According to the China Passenger Car Association, passenger-vehicle wholesale fell about 30 per cent in the first 27 days of September, a traditionally peak sales month that this year felt more like a chill.
Editor’s note: This is an adapted translation of the original Chedongxi report. It has been trimmed and restructured for readability for an international business audience. The full original (in Chinese) is at https://chedongxi.com/p/377282.html.