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<Research>BOCOMI: CN Sep NEV Penetration Rate Climbs to 57.8%; 4Q Sales Outlook Brightens
Recommend 7 Positive 17 Negative 6 |
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In September, China's passenger vehicle market retailed 2.241 million PVs, up 6.3% YoY or 11% MoM, setting a new monthly record, according to BOCOMI's research report. Among them, a total of 1.296 million new energy vehicles (NEVs) were retailed, up 15.5% YoY and 16.2% MoM, representing a penetration rate of 57.8%, a new high for the year. BOCOMI expects the adjustment of the 2026 NEV purchase tax exemption policy from full to half exemption to spur consumers to concentrate their car purchases before the end of the year. Coupled with the peak sales seasons of September and October and automakers' year-end push, the outlook for 4Q25 car sales remains positive. The broker suggested investors pay attention to XPENG-W's (09868.HK) (XPEV.US) launches of its new P7 and extended-range models, which could drive up sales and gross margins; GEELY AUTO's (00175.HK) internal resource integration after privatizing Zeekr; and SERES (601127.SH) further expanding the high-end market with its AITO series and enhancing profitability. AAStocks Financial News |
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