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China Passenger Car Sales Slide for 11th Straight Month on Sluggish Demand
US Markets

China Passenger Car Sales Slide for 11th Straight Month on Sluggish Demand

Passenger car sales in China declined for the 11th consecutive month in August amid pressure from a cooling petroleum market and the rise of new energy vehicles.Retail sales of passenger cars fell 24% year over year to more than 1.5 million units, according to data released Tuesday by the China Passenger Car Association.The decline aligns with the CPCA's Aug. 21 forecast, which also pointed to a lack of significant improvement in consumer expectations and fundamentals.Domestic brand sales slid 19% year over year to 1.1 million units despite market share rising 4.1 percentage points to about 70%, while mainstream joint venture brand sales fell 35% to 310,000 units, and luxury car sales declined 26% to 150,000 units.New energy vehicle retail sales fell 10% to more than 1 million units during the month. However, wholesale figures rose 16% year over year, led by BYD (HKG:1211, SHE:002594) with 433,384 units, followed by Geely (HKG:0175), Chery Automobile (HKG:9973), Zhejiang Leapmotor (HKG:9863) and Tesla at fifth.Exports jumped 78% to 888,000 units, equivalent to 38% of passenger sales, while production slipped 4.5% to 2.3 million units.

Shanghai Composite^SZSEHKG:0175HKG:1211HKG:9863HKG:9973SHE:002594
Asia

Market Chatter: Chery Auto to Test Solid-State Batteries in Vehicles in 2027

Chery Automobile (HKG:9973) plans to start testing its solid-state batteries in vehicles in 2027 and invest 10 billion yuan over the next two years to develop the technology, South China Morning Post reported Thursday, citing National Business Daily.Chery Chairman Yin Tongyue said the company plans to deploy 1,200 engineers on solid-state battery development. Its solid-state batteries would have an energy density of 400 watt-hours per kilogram, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:9973
Asia

Chery Automobile's Sales Jump 14% in August

Chery Automobile's (HKG:9973) vehicle sales rose 14% to 262,990 units in August from a year earlier.For the first eight months of 2026, the Chinese automaker's total vehicle sales increased 11% year over year to 1.8 million units, according to a Tuesday Hong Kong bourse filing.

HKG:9973
Tesla, Chinese Automakers Recall 4.3 Million EVs Over Concealed Door Handles
US Markets

Tesla, Chinese Automakers Recall 4.3 Million EVs Over Concealed Door Handles

Following a ban on concealed doors on electric vehicles in China enacted in February, Tesla and other Chinese EV makers filed recall notices with the State Administration for Market Regulation covering about 4.3 million cars.Tesla is leading the move with the recall of about 2.98 million vehicles, noting that it will provide over-the-air software updates to address the issue.Tesla's recall covers domestically produced Model 3 and Model Y units, along with imported Model S, Model X, and Model 3 vehicles. The emergency mechanical door handles are "difficult to identify and operate because their color is similar to the interior trim," and could "hinder occupants from quickly opening the doors to escape and impede rescue efforts by those outside the vehicle, posing a safety hazard," the SAMR said.The US-headquartered automaker said it will affix warning labels free of charge to vehicles within the recall scope.Xiaomi (HKG:1810) will recall 390,435 of its units, and Zhejiang Leapmotor Technology (HKG:9863) will recall 371,200. XPeng (HKG:9868) will fix 264,842 cars.Geely Automobile's (HKG: 0175) Zeekr will repair 92,658 units, while Chery Automobile (HKG: 9973) will fix 68,488. Dongfeng Motor (HKG: 0489) will recall 53,452, BAIC Motor (HKG: 1958) will see 46,850 units repaired, and FAW will recall 11,908 units.The ban, first announced in February and taking effect on Jan. 1, 2027, will require EV makers to equip mechanical release systems on car doors. Automakers with already-approved automatic concealed door models have two years to change their designs, the industry ministry said at the time.The safety rule was introduced following several crashes where power failures prevented rescuers from opening the automatic doors, Bloomberg reported.Among those crashes was a Xiaomi electric sedan, which caught fire in an early-morning crash in Chengdu, China, back in October 2025.This marks China's largest automotive recall to date, multiple media reports said.

Shanghai Composite^SZSEHKG:0175HKG:0489HKG:1810HKG:1958HKG:9863HKG:9868HKG:9973
Asia

Tesla Leads 4.3 Million Vehicle Recall in China Over Door Safety

Tesla and eight other Chinese automakers have filed a recall plan with China's State Administration for Market Regulation for about 4.3 million vehicles to address issues with door handles, according to notices filed on the watchdog's website Friday.Alongside Tesla, the sweeping recall includes domestic manufacturers Xiaomi (HKG:1810), Zhejiang Leapmotor Technology (HKG:9863), XPeng (HKG:9868), Geely Automobile (HKG:0175), Dongfeng Motor (HKG:0489), BAIC Motor (HKG:1958), Chery Automobile (HKG:9973) and FAW.Tesla leads the recalls with roughly 2.98 million vehicles involved, followed by Xiaomi with over 390,000 cars.Tesla's recall covers China-produced Model 3, Model X and Model S vehicles with emergency mechanical door handles that the company said are "difficult to identify and operate because their color is similar to the interior trim."The US-headquartered carmaker said it will affix warning labels free of charge to vehicles within the recall scope.This marks China's largest automotive recall to date, according to Reuters.

Shanghai CompositeHKG:0175HKG:0489HKG:1810HKG:1958HKG:9863HKG:9868HKG:9973
Asia

Chery Automobile's Profit Falls 12% in H1

Chery Automobile (HKG:9973) posted a profit attributable to owners of 8.57 billion yuan for the first half of 2026, down nearly 12% from 9.71 billion yuan a year earlier.Earnings per share stood at 1.47 yuan, compared with 1.77 yuan in the year-ago period, according to a Thursday Hong Kong bourse filing.Revenue increased 1.2% year over year to 143.3 billion yuan from 141.6 billion yuan.

HKG:9973
Asia

Market Chatter: Chery Automobile Robotics Division Plans IPO

Chery Automobile's (HKG:9973) robotics unit, AiMOGA Robotics, is preparing for a future listing as it aims to increase its humanoid robot deliveries by 2027, Reuters reported Wednesday, citing an interview with division chief Zhang Guibing.The company is making "relevant preparations" and deliberating on the IPO venue, the report said, citing Zhang's remarks on the sidelines of the World Robot Conference in Beijing.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:9973
Asia

Market Chatter: Chery Automobile to Open UK R&D Center, Explores Local Production

Chery Automobile (HKG:9973) will open a research and development center in Bedfordshire later this year as it expands its presence in the UK, the BBC reported Wednesday, citing a company statement.The center at UTAC Millbrook will focus on developing and testing vehicles for UK driving conditions, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:9973
Asia

Market Chatter: Jetour Weighs Brazil Production, Eyes Shared Factory Model

Chinese automaker Jetour, a brand under Chery (HKG:9973), is exploring options to begin vehicle production in Brazil, Reuters reported, citing Henrique Sampaio, Jetour Brazil's marketing director.Among the options under consideration is sharing manufacturing capacity with an automaker already operating in the country, following a model similar to Jetour's partnership with Nissan in South Africa, according to the report.The company plans to invest $78 million in Brazil by the end of 2027, excluding any spending tied to local production, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:9973
Japan

South Korean Stocks Rebound as Retail Buying Offsets AI, Middle East Concerns

South Korean shares closed higher on Tuesday as retail investors went on a buying spree after the previous session's more than 5% plunge on profit-booking.A positive lead from overnight gains on Wall Street boosted sentiment, despite gains being limited by ongoing concerns over AI spending and tensions in the Middle East.The Korea Composite Stock Price Index, or Kospi, increased by 101.5 points, or 1.6%, to end at 6,358.95. The Kosdaq also rose by 43.37 points, or 5.9%, to close at 780.72.In economic news, South Korea's annual inflation rate decelerated to 2.8% in July from 3.2% in June, according to data from the Ministry of Data and Statistics published Tuesday.The latest print was lower than the consensus forecast of 3%, according to Investing.com.On a monthly basis, the all-items consumer price index was down 0.2%, reversing the 0.1% increase between May and June.Meanwhile, the country's core inflation rate, which excludes food and energy prices, rose to 2.6% from 2.5% in June.In corporate news, KG Mobility (KRX:003620) secured an investment of $75 million from China's Chery Automobile (HKG:9973) to boost technology cooperation and partnership, according to a Monday release from the South Korean automaker.The investment builds on a 2024 platform licensing agreement and a 2025 joint development deal for mid-to-large sports utility vehicles (SUVs).Shares of KG Mobility jumped 6% at market close in Seoul, while those of Chery declined over 3% in Hong Kong.

^KOSDAQKOSPIHKG:9973KRX:003620
Asia

KG Mobility Secures $75 Million Investment from China's Chery Automobile

KG Mobility (KRX:003620) secured an investment of $75 million from China's Chery Automobile (HKG:9973) to boost technology cooperation and partnership, according to a Monday release from the South Korean automaker.The investment builds on a 2024 platform licensing agreement and a 2025 joint development deal for mid-to-large sports utility vehicles (SUVs).Shares of KG Mobility jumped nearly 5% in recent trade in Seoul, while those of Chery declined almost 4% in Hong Kong.

HKG:9973KRX:003620
Asia

Chery Automobile's Vehicle Sales Rise 24% in July

Chery Automobile's (HKG:9973) vehicle sales rose 24% to 261,876 units in July from a year earlier, according to a Sunday Hong Kong bourse filing.The Chinese automaker sold 119,441 new energy vehicles and exported 196,311 NEVs during the month.For the first seven months of 2026, Chery's total vehicle sales increased 10% year over year to 1.54 million units.

HKG:9973
Asia

Chinese Passenger Car Sales Fall 23% in June

Chinese retail sales of passenger cars slid 23.2% to 1.6 million units in June, the China Passenger Car Association said in a Wednesday press release.New energy vehicle sales fell 9% during the month, with domestic brands slipping 11%, mainstream joint venture-made NEVs plunging 45%, and luxury brands declining 11%.Retail sales of gas-powered vehicles plunged 39% year over year, with pure gasoline vehicle sales falling 42% and conventional hybrids slipping 7%.Vehicle exports surged 82% to 877,000 units in June, with 56.9% of the figure coming from NEVs.Production fell 2.7% year over year to 2.3 million units.China's biggest local automakers include Dongfeng Motor Group (HKG:0489), SAIC Motor (SHA:600104), Chongqing Changan Automobile (SHE:000625), BAIC Motor (HKG:1958), Guangzhou Automobile Group (SHA:601238, HKG:2238), Great Wall Motors (SHA:601633, HKG:2333), Chery Automobile (HKG:9973), and FAW Group (SHE:000800).Top new-energy vehicle manufacturers include BYD (SHE:002594, HKG:1211), Li Auto (HKG:2015), XPeng (HKG:9868) and NIO (HKG:9866, SGX:NIO).

Shanghai Composite^SZSEHKG:0489HKG:1211HKG:1958HKG:2015HKG:2238HKG:9866HKG:9868HKG:9973SGX:NIOSHA:600104SHA:601238SHE:000625SHE:000800SHE:002594
Asia

Chery Takes Over Former Nissan Plant in South Africa

China's Chery Automobile (HKG:9973) formally opened its Rosslyn manufacturing plant in South Africa after acquiring the facility from Nissan Motor (TYO:7201) earlier this year, according to a press release on Saturday.The carmaker said it will retain all 692 employees at the plant and expects the facility to support nearly 3,000 jobs across the supply chain.The factory will undergo a full upgrade before production begins in the middle of 2027, with annual capacity expected to reach 50,000 vehicles per shift.Chery aims to achieve an initial localization rate of 40% by 2028 and plans to develop the Rosslyn facility into a regional hub for research and development, manufacturing, supply chain operations and skills training, serving southern Africa.

HKG:9973TYO:7201
Asia

Sales of Chinese NEVs Rise 22% in June, CPCA Says

Sales of Chinese new energy vehicles rose 22% year over year to more than 1.5 million units in June, according to preliminary figures from the China Passenger Car Association released Thursday.The increase was attributable to higher oil prices, improved supply conditions and stronger exports, the association said.BYD's (HKG:1211, SHE:002594) sales reached 397,292 units, topping the association's list.Geely's (HKG:0175) sales were at 158,849 during the period, while Chery Automobile's (HKG:9973) were at 106,900.Tesla's sales reached 89,091 units during the period.

Shanghai Composite^SZSEHKG:0175HKG:1211HKG:9973SHE:002594
BYD Leads China NEV Sales in June
US Markets

BYD Leads China NEV Sales in June

BYD (HKG:1211, SHE:002594) led June's new energy vehicle sales as demand for such vehicles continues to surge abroad, even as domestic expansion faces distinct retail headwinds.BYD recorded the highest number of sales among Chinese NEV makers, selling 403,472 units during the month, up 5.46% from a year earlier. The carmaker's momentum was buoyed by its overseas performance, where passenger exports nearly doubled year over year to a record 174,897 units, offsetting a cool domestic retail market.Meanwhile, Zhejiang Leapmotor Technology (HKG:9863) and Nio (HKG:9866, SGX:NIO) recorded significant increases in their global deliveries, jumping 95% and 62.9% year over year, respectively, to deliver 93,376 units and 40,597 units.Leapmotor's numbers were boosted by its extended-range hybrid lineup, while Nio's deliveries were split across its luxury brand and its emerging sub-brands.SAIC Motor (SHA:600104) maintained strong overall volume, with group-wide sales reaching 395,000 units in June, up 8.1% from the previous year. Sales were boosted by electrification across the company's portfolio. Monthly NEV-specific sales 66.6% year over year to hit 201,000 units.Meanwhile, Geely Automobile's (HKG:0175) NEV sales climbed 2% year on year to 240,799 units, while those of Chery Automobile (HKG:9973) rose 9.5% to 240,585 units.Meanwhile, XPeng (HKG:9868) sold 40,126 vehicles during the month, bringing deliveries in the second quarter to 103,295 units. The carmaker plans to launch and presale a new model, XPENG MONA L03, on Thursday.Li Auto (HKG:2015) delivered 30,895 NEVs in the same month, bringing 1.7 million units into sale as of the end of June. The automaker said it surpassed 150,000 units in cumulative production after introducing a new flagship SUV, Li L8, on June 23.The number in NEV exports rose, but analysts from S&P Global said it is not enough to lift the slumping domestic demand.On a June 15 note, the ratings firm predicted NEV domestic sales to drop by 7% year on year to 25.4 million units in June as demand slowed down due to a reduction in trade-in and NEV purchase tax incentives."While mainland China automakers have been praised for their speed to market and ability to rapidly update products and technology, this frenetic cycle has a downside," S&P Global said. "The pace of model updates from mainland OEMs is causing some consumers to delay purchases, waiting for better deals both technologically and financially."

HKG:0175HKG:1211HKG:2015HKG:9863HKG:9866HKG:9868HKG:9973SGX:NIOSHA:600104SHE:002594
Asia

Chery Automobile's June Sales Climb 9.5%

Chery Automobile (HKG:9973) sales volume stood at 240,585 vehicles in June, up 9.5% from a year prior, according to a Wednesday Hong Kong bourse filing.The firm's Chery brand saw sales rise 24% year over year to 169,516 units, while Luxeed sales gained 125% to 5,541 units.Jetour sales slipped 13% year on year to 48,305 units, figures showed.Exeed and iCar sales decreased 51% and 3.7%, respectively, to 6,758 units and 10,465 units.For the first half of 2026, total sales increased 7.8% to nearly 1.3 million units.

HKG:9973
Asia

Market Chatter: Chinese Auto Majors Exploring Plans to Produce in Canada via JVs

China's BYD (HKG:1211, SHE:002594) and Chery Automobile (HKG:9973) are considering plans to produce electric vehicles in Canada via joint ventures with local partners, Bloomberg reported Monday, citing a Canadian minister.Geely Automobile's (HKG:0175) parent Zhejiang Geely and Shanghai Launch Automotive Technical are also considering similar plans, Canadian Industry Minister Melanie Joly reportedly said.The plans would help the major Chinese auto manufacturers use Canada's low-tariff quota of about 6% for their electric vehicles.BYD, Geely, Chery Automobile, and Launch Automotive did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:0175HKG:1211HKG:9973SHE:002594
Asia

Nissan Signs MoU for UK Production of Chery Vehicles at Sunderland Plant

Nissan Motor (TYO:7201) and Chery Automobile's (HKG: 9973) Chery International UK have entered into a non-binding memorandum of understanding to explore having Nissan build Chery's passenger cars at the Sunderland facility in the UK under a contract manufacturing arrangement.Under the proposed terms, Nissan would retain full ownership of the plant and employ all staff, with production of Chery vehicles potentially starting on Line One as early as fiscal year 2027, according to a statement on Wednesday.The agreement follows Nissan's May decision to shift all its own manufacturing to Line Two as part of an effort to boost plant utilization.While Nissan AMIEO Chairperson Massimiliano Messina called the move a significant step and pledged to pursue a mutually beneficial outcome, the MoU remains non-binding and both sides are continuing discussions without further public details at this time.

HKG:9973TYO:7201
Asia

Market Chatter: Tata Motors to Use Chery's Automaking Platform in Premium EVs

Tata Motors (BOM:500570, NSE:TATAMOTORS) plans to license Chery Automobile's (HKG:9973) Freelander, an automaking platform developed in a joint venture between the Chinese firm and Jaguar Land Rover, Reuters reported Wednesday, citing people familiar with the matter.The Indian automaker plans to incorporate the platform in its electric vehicles under its premium Avinya brand, which will be manufactured at the newly opened factory in Tamil Nadu, according to the report.The first model under the Avinya brand is scheduled to launch in 2027, the report said.Shares of Tata Motors rose nearly 1% in recent trade, while those of Chery Automobile declined nearly 3% at market close.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

BOM:500570HKG:9973NSE:TATAMOTORS

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