Yuanta picks SAT as top auto parts stock, poised to benefit from government's plan to raise EV import taxes

Geely Auto Group announced the market launch of its first electrified off-road SUV, named Zhanjian 700 in China, and the first production model built on its dedicated GTA architecture for electrified off-road vehicles. The model pairs Geely's EM-T Hybrid powertrain, delivering up to 1,129 PS peak power, 13,920 N·m wheel torque and a combined range of 1,700 km, with an AI all-terrain driving system and one-touch intelligent climbing mode. Its integrated frame structure and high-strength occupant safety cage, built entirely from ultra-high-strength and hot-formed steel, incorporate a concealed rollover protection structure extending 10.6 metres and achieve a roof-crush strength of 161 kN. Pre-sales in China have already begun, with deliveries expected by the end of 2026, and the model is also planned for launch in markets outside China in the future. As the first rugged SUV in Geely Auto's portfolio and the first production application of the GTA architecture, it extends the brand into a new product category.

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.

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.

Changan Automobile confirmed to Red Star Capital Bureau that on October 9 it received a survey questionnaire from CATARC regarding brake pedal assembly materials, with the questionnaire focusing on the application of non-metallic materials in pedal assemblies. CATARC is a central state-owned enterprise directly under the State-owned Assets Supervision and Administration Commission of the State Council, entrusted by the Ministry of Industry and Information Technology to conduct research on automotive standards and regulations. Industry insiders believe this survey may have been influenced by the incident involving the fracture of the brake pedal bracket on the Maextro V800, and could promote revisions to industry standards such as Performance Requirements and Bench Test Methods for Automotive Pedal Devices, with the questionnaire serving as preparatory work. Industry insiders pointed out that current national and industry standards lack quantitative load thresholds, material restrictions, or test methods for brake pedals and their brackets, leaving a standards gap for non-metallic brake pedal assemblies, and automakers may use non-metallic materials as long as they can demonstrate performance equivalent to metal materials. After the incident, executives from automakers including Voyah, Dongfeng Peugeot Citroën Automobile, Yangwang, and GAC Honda posted photos of their own brake pedals and emphasized the use of high-strength metal materials, while an industry insider close to JAC Motors said that brake pedal brackets on many models have long used non-metallic composite materials as part of lightweight design following the development of new energy vehicles.