Hong Kong Stock Market News | Auto stocks generally open higher, XPeng Inc. (XPEV) rises nearly 5% as September's new energy vehicle delivery data shines.

According to the Zhongtong Finance APP, automotive stocks opened higher in early trading. As of the time of writing, Xpeng Motors-W (09868) rose 4.87% to HKD 70.05; NIO-SW (09866) rose 3.47% to HKD 68.6; GAC Group (02238) rose 3.01% to HKD 3.77; and Li Auto-W (02015) rose 2.4% to HKD 136.5.

In terms of news, several new energy vehicle companies have announced their delivery and sales figures for September. BYD achieved another record with sales of over 280,000 vehicles in September, a year-on-year increase of 42.8%. GAC Aion's sales exceeded 50,000 units. Li Auto delivered over 36,000 vehicles in September, a year-on-year increase of 212%, reaching a new monthly delivery record. New players in the car manufacturing industry such as Deep Blue, Leap Motor, and NIO also delivered over 10,000 vehicles each.

Galaxy Securities pointed out that the market has high expectations for the "Golden September and Silver October" peak season for consumer spending. According to preliminary estimates by the China Passenger Car Association, the sales of narrow passenger vehicles in September are expected to reach 1.98 million units, an MoM increase of 3.1% and a YoY increase of 3.0%. Despite the high base effect from the same period last year, the positive growth in retail sales volume in September reflects the continued improvement of China's auto market.