Kia reports a 2.3% rise in net income in Q2

Tesla Inc. has begun replacing its "Full Self-Driving (Supervised)" branding with "Tesla Assisted Driving" across its European websites, following criticism from German officials that the FSD name was potentially misleading because the system still requires driver supervision. Tesla watcher Sawyer Merritt first flagged the live branding change on X on Oct. 8, and Not a Tesla App subsequently reported that Tesla had adopted the new name across the continent. Germany's Federal Ministry of Transport had said two days earlier that Transport Minister Steffen Bilger wants Tesla's system approved across Europe "in a timely manner," calling the FSD name "somewhat misleading" since the system does not take over the complete driving task and drivers must remain attentive. Tesla offered the rename during talks with German officials over technical and liability issues, Reuters reported, and CEO Elon Musk welcomed Germany's backing with "Danke Schön!" as the company's European approval push gained momentum. The approval remains contested: Reuters reported Germany supports allowing the system to operate up to 10% above detected speed limits, while France and Sweden objected, pushing an EU vote from October to at least December, and eight EU countries had approved the system by Wednesday, with Slovakia saying Thursday it expected to become the ninth within days.

Qianli Technology released its production and sales report on October 11, disclosing vehicle production and sales data for September and the first three quarters. In September, the company produced 5,703 vehicles and sold 6,252 units. From January to September, Qianli Technology produced a total of 64,122 vehicles, up 11.22 percent year on year, with cumulative vehicle sales of 66,903 units.

Tesla delivered 95,366 China-made electric vehicles in September, a 5% increase from 90,812 vehicles a year earlier that extended its year-over-year growth streak to 11 consecutive months. The Shanghai factory shipped Model 3 and Model Y vehicles to China, Europe, Asia-Pacific and Canada during the month, according to Reuters, citing the China Passenger Car Association. Third-quarter deliveries from Shanghai rose 13.7%, even as Tesla's worldwide deliveries fell 2.1% from the record-setting quarter last year. To support demand in China, Tesla is offering promotions through October, with selected Model Y versions qualifying for a 7,000-yuan reduction on final payments and every Model 3 variant receiving 5,000 yuan off. The gains come amid intensifying competition in China, where Tesla's retail sales fell 12.4% year-over-year in August to 50,047 units, its weakest August since 2022, leaving it ranked fifth behind market leader BYD with 233,943 units.

China's passenger vehicle retail sales totaled roughly 1.7M in September, a 24% decline from a year ago, according to preliminary data released by the China Passenger Car Association on Saturday. Year-to-date retail sales fell 21% year on year to about 13.4M, though the broader passenger vehicle market expanded from August, with retail sales climbing roughly 10% from a month ago on the strength of new energy vehicles. Retail sales of passenger NEVs stood at about 1.1M in September, down roughly 12% year on year but accounting for about 67% of total passenger vehicle retail sales for the month. Year-to-date retail NEV sales totaled about 7.8M, down 12% year on year, while wholesale passenger NEV sales reached about 11.4M year to date, up 10% from a year ago, as the CPCA said higher oil prices stayed elevated longer than expected and fueled exports. The local market also faced tough comparisons from a year earlier, when sales climbed on a rush to buy new vehicles before some Chinese regions reined in trade-in subsidies. BYD, Geely Auto, Chery, Leapmotor and Tesla were among the top 10 manufacturers in the passenger NEV wholesale market last month, while XPeng, Li Auto and Nio ranked outside the top ten.