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2026-09-03 12:59:57 Daiwa noted that based on weekly NEV order data, China's NEV market weakened in week 35, with total orders falling 6% WoW to 124,000 units. Orders for August month-to-date reached 514,000 units, down 33% MoM, indicating relatively weak overall demand toward month-end. At the brand level, ZEEKR under GEELY AUTO (00175.HK) recorded the strongest WoW growth, rising 14%. XPENG-W (09868.HK) and LI AUTO-W (02015.HK) also increased 10% and 6%, respectively, outperforming the broader market. In contrast, Harmony Intelligent Mobility Alliance plunged 34% WoW, while XIAOMI-W (01810.HK) and Geely Galaxy (Galaxy) declined 18% and 9% WoW, respectively, reflecting weaker order momentum. Orders for BYD COMPANY (01211.HK) edged down 3% WoW. Looking ahead, the broker expects order momentum to remain broadly stable, supported by launches of new vehicle models and improving performance at certain brands. However, intense industry competition and uneven demand across automakers may keep overall market growth moderate. (ad/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |