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M Stanley: China Passenger Vehicle Market Share Reshuffled in Aug, LI AUTO-W (02015.HK) and XPENG-W (09868.HK) Outperform MoM on New Model Launches
2026-09-28 11:03:43
M Stanley published a research report stating that China's passenger vehicle market share landscape was reshuffled in August, with LI AUTO-W (02015.HK) and XPENG-W (09868.HK) tending to outperform on a MoM basis, while most automakers recorded YoY increases in passenger vehicle market share YTD.

The broker noted that the decline in BYD COMPANY (01211.HK)'s YTD market share continued to narrow, while LEAPMOTOR (09863.HK)'s market share hit another record high. BYD COMPANY (01211.HK)'s passenger vehicle market share was flat MoM and fell 0.2 ppts YoY to 14.9% in August (12.1% YTD); GEELY AUTO (00175.HK)'s market share rose 0.2 ppts MoM and increased 0.1 ppts YoY to 11.8% (11.7% YTD); LEAPMOTOR (09863.HK)'s market share reached 4.6%, rising 0.3 ppts MoM and 2.2 ppts YoY to another record high.

NIO-SW (09866.HK)'s market share fell 0.2 ppts MoM and rose 0.7 ppts YoY to 2.3%; LI AUTO-W (02015.HK)'s market share increased 0.4 ppts MoM and 1.0 ppts YoY to 2.4%, driven by further volume expansion of the L6 after July; XPENG-W (09868.HK)'s market share rose 0.2 ppts both MoM and YoY to 1.9%, benefiting from volume ramp-up of the MONA L03 following its launch in July. XIAOMI-W (01810.HK)'s market share fell 0.2 ppts MoM and rose 0.1 ppts YoY to 1.9%; Tesla, Inc. (TSLA.US)'s China passenger vehicle market share rose 1.3 ppts MoM and 0.4 ppts YoY to 3.2%. Among luxury European brands, Mercedes-Benz's market share fell 0.2 ppts MoM and 0.3 ppts YoY to 2%, while BMW's market share declined 0.1 ppts both MoM and YoY to 2.1%. The broker rated China's automobile and ride-hailing sectors as "Equalweight".

AASTOCKS Financial News
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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.