Leapmotor (HKEX: 9863) delivered 105,656 vehicles globally in September, up 58.51% year-on-year, and now faces the steepest ramp of any Chinese EV maker: it needs 333,461 deliveries over the final three months of 2026, an average of roughly 111,154 a month, to hit its 1,000,000-unit annual target.

That pace sits above September's record level. Through nine months, Leapmotor has delivered 666,539 vehicles, up 68.52% year-on-year and already past its full-year 2025 total of 596,555. Its third-quarter volume of 310,052 set a quarterly record, up 78.34% year-on-year and 25.87% from Q2.

September's delivery table otherwise split sharply. SAIC-GM-Wuling led all automakers tracked at 132,045 units, down 15.13% year-on-year. Zeekr posted its sixth consecutive monthly record. Huawei's HIMA fell for a fourth straight month, and Li Auto slipped back into decline.

Nio returns to growth, meets Q3 guidance

Nio Inc (NYSE: NIO) delivered 37,408 vehicles in September, up 7.65% year-on-year and 4.39% from August, ending two consecutive months of month-on-month declines. Third-quarter deliveries reached 109,178, up 25.39% and within guidance of 108,000 to 111,000.

The mix tells a sharper story. The core Nio brand delivered 21,318 vehicles, up 55.29% year-on-year. Budget brand Onvo fell 42.52% to 8,763, its second consecutive year-on-year decline. The Firefly small car set a record at 7,327 units, up 26.87%. Nine-month deliveries across the group reached 300,301, up 49.24%.

Xpeng hits 2026 monthly high but stays down for the year

Xpeng (NYSE: XPEV) delivered 41,256 vehicles in September, its highest monthly figure this year, though still down 0.78% year-on-year — ending three consecutive months of growth. Q3 deliveries hit a record 118,390, up 2.05%, slightly above the midpoint of its 115,000-to-121,000 guidance.

Nine-month volume stands at 284,367, down 9.20% year-on-year, though the decline narrowed from 10.49% through August. The Mona L03 exceeded 10,000 units; the flagship GX SUV delivered 7,224, its third straight month above 7,000.

Li Auto slips, refresh cycle ahead

Li Auto (NASDAQ: LI) delivered 31,817 vehicles in September, down 6.29% year-on-year and 15.56% from August, undoing August's return to growth. Q3 volume of 99,964, up 7.24%, landed near the top of its 95,000-to-100,000 guidance. Nine-month deliveries of 293,436 are down 1.25%.

The updated Li L6 delivered more than 10,000 units. The refreshed Li i6 launches in late October with deliveries from early November — the next test of whether the brand can return to growth.

HIMA slides as lineup turns over

Huawei's HIMA delivered 37,490 vehicles in September, down 29.15% year-on-year and 10.95% from August — a fourth consecutive annual decline and third straight monthly drop. Nine-month deliveries of 367,229 are up 5.27%, a marked slowdown from 11.42% growth through August. Cumulative deliveries have surpassed 1,560,000, HIMA said. The decline came as the updated Luxeed R7, Luxeed RX, Stelato V8 and updated Aito M8 launched or opened for pre-sales during the month — a transition that will show its volume effect in Q4.

Zeekr doubles, Xiaomi clears 40,000

Zeekr, under Geely Auto (HKEX: 0175), delivered 37,216 vehicles, up 103.85% year-on-year — its sixth straight monthly record and eighth consecutive month of both annual and monthly growth. Nine-month volume of 288,404 is up 100.84%. The 9X hybrid SUV delivered 7,225 units as the five-seat version ramps, and the Zeekr 7X has exceeded 10,000 units for three consecutive months.

Xiaomi Auto said September deliveries exceeded 40,000, its highest monthly level this year, without disclosing an exact figure. Deliveries of the Sky Nomad series began during the month. August volume was 30,153 according to CPCA data compiled by CnEVPost. On the disclosed minimum of 286,475 units for nine months, Xiaomi has reached about 52.1% of its 550,000-unit annual target — meaning a Q4 run rate above 87,000 a month would be required to close the gap.

Elsewhere, GAC's Hyptec and Aion unit delivered a combined 35,494, up 21.91% and growing for a seventh consecutive month. Deepal delivered 30,185, down 10.23% year-on-year. Voyah's nine-month total of 115,481 is up 19%. VW Anhui trailed the field at 1,761 units.

What to watch: Li Auto's updated i6 launch in late October, the volume impact of HIMA's four-model refresh in Q4, and whether Leapmotor can lift monthly output above 111,000 to reach its million-unit target.