Author | Wang Xiaojuan

In today's weather is good. Today's weather is good.

October 8, 2024, is a memorable day for many people.

"National Day Golden Week" the first day off, the three major A-share indices all opened higher, the Shanghai Composite Index rose more than 10% at one point, and many auto and industry chain companies' stocks also reached a new phase high.

As of the close on the afternoon of October 8, power battery manufacturer Contemporary Amperex Technology soared 18.7% to 299 yuan per share, with Chongqing Sokon Industry Group Stock, BYD, and other complete vehicle enterprises also seeing increases of more than 5%. In the past half month, the entire automobile sector has shown a significant recovery, with leading stocks like BYD seeing stock price increases of over 30%.

In addition to the great harvest in the capital markets, auto companies also received many orders during this "National Day Golden Week." After all, compared to the gains and losses in the stock market, selling cars brings real cash flow.

For the auto market, this is a long-awaited feast. In the past year, except for a few new cars that were able to receive soaring orders shortly after being launched, the overall auto market has been in a price war for a long time, with "no off-season, no peak season" becoming the norm.

And this year, following the success of the 'Golden September' with even record-breaking sales volume, the potential of the 'Silver October' can also be glimpsed from the bustling situation during the 'National Day Golden Week'.

Similar to the monthly sales frenzy, the enthusiasm of the 'National Day Golden Week' is still concentrated on electric vehicle companies.

Last National Day, the WENJIE New M7 at the time single-handedly staged the 'rebirth' of the entire WENJIE brand. A year later, the Huawei series has already had a new glorious story.

Data released by Hongmeng Zhihang shows that during the National Day holiday, the cumulative orders exceeded 28,600 units, with the ZHIJIE R7, WENJIE M9, and WENJIE M7 orders breaking 9,600 units, 7,800 units, and 9,000 units respectively.

The performance of ZHIJIE R7 led Huawei's Smart Automobile Solution BU Director Yu Chengdong to reflect: 'ZHIJIE R7 has risen, it's really difficult to build a completely new brand, the ZHIJIE brand rises with R7.'

Leapmotor also gained many orders. On the evening of October 7th, Leapmotor Chairman Zhu Jiangming couldn't wait to share the order situation during the National Day holiday on his social media. According to the backend data provided by him, Leapmotor's order volume that day was 3,576 units, with an order volume of 17,397 units in the past seven days. Among the new forces in the automotive sector, Leapmotor has always been relatively low-key. However, since this year, it has frequently set new order records, making it difficult to stay low-key.

It was also revealed by industry insiders that BYD added more than 160,000 units of new orders during the 'National Day Golden Week,' while Li Auto added more than 20,000 units, both reaping substantial gains.

Although the overall sales volume of pure electric vehicle models is not as high as hybrid and extended-range models, many brands selling pure electric vehicles have also secured a large number of orders during this 'National Day Golden Week'.

Xiaomi Group Chairman Lei Jun confirmed that during the National Day holiday, Xiaomi SU 7 orders exceeded 6,000; Xiaopeng is still immersed in the warm current of Xiaopeng MONA M03. After setting a record in September with 21,352 vehicles, it was revealed by informed sources that Xiaopeng received an additional 0.016 million new orders during the National Day holiday; the latest redesigned all-new Zhiji LS6 also received approximately 3,500 orders within three days...

The popularity benefited from both the policy subsidies before the National Day and the dual promotion of car manufacturers' preferential rights.

As early as the end of July, the National Development and Reform Commission and the Ministry of Finance issued the latest policy of trading in old vehicles for new ones. Based on the original rules of the subsidy for trading in old cars, the subsidy for scrapping and updating cars was once again increased.

After the update, for individual consumers who meet the relevant requirements, scrap old cars and purchase new cars, the subsidy standards for purchasing new energy passenger vehicles have been increased from 0.01 million yuan to 0.02 million yuan, and for purchasing fuel passenger vehicles from 7000 yuan to 15,000 yuan.

In addition, during the National Day holiday, about 20 cities held auto shows, and many places also issued limited-time automotive consumption vouchers, all promoting car consumption. For example, the 2024 Hefei International New Energy Auto Show ended on October 5th. According to statistics, during the auto show, a total of 0.55 million visitors entered, with 50 million yuan worth of city-level auto consumption vouchers distributed, driving sales of over 0.02 million vehicles, with sales totaling around 3.79 billion yuan.

Car manufacturers also prepared many promotional activities for this 'Golden Week' of the National Day.

For example, the Hongmeng Zhixing under the Huawei HarmonyOS has tens of thousands of yuan in limited-time discounts for several models with nearly 0.03 million orders. In addition to benefits such as Qijie R7 up to 0.035 million yuan, Xiangjie S9 up to 0.035 million yuan, and Wenjie M7 up to 0.0388 million yuan, there are National Day lucky draws (with Huawei's latest foldable phone as the grand prize) and other minor benefits; many joint venture brands have directly introduced a 'fixed price' policy that is tens of thousands of yuan lower than the previous selling price.

In addition, since September, dozens of new cars have been launched before the festival, and many of the new car launch benefits include the 'Golden Week' of the National Day, naturally driving a wave of large orders.

For example, NIO's another brand Leda's first model, Leda L60, was launched on September 19th, with a whole vehicle price of 0.2069 million yuan - 0.2359 million yuan. If purchased using the battery rental method, the price starts from 0.1499 million yuan. Before October 8, consumers can also enjoy the founder's user equity worth about 0.0415 million yuan, which gives users a great temptation.

For consumers, the rise brought by the bull market has also changed consumers' expectations, making them more willing to spend, which also has a certain stimulating effect on the consumption during the 'National Day Golden Week'.

"Golden September and Silver October" is a critical period for car companies to boost their annual sales volume, to a certain extent determining whether car companies can achieve their full year sales volume. The 'National Day Golden Week' is a key window period, so car companies naturally work harder, leading to a fruitful season for the car market.

However, it can be seen that the automotive market has long entered the stock competition stage, and today's brilliance comes from the dual stimulus of policies and car companies.

The current release of demand also means that there will be greater challenges ahead, and car companies must drive towards larger market opportunities in order to achieve sustainable growth.