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Passenger vehicle sales fell 28.1% year over year to 1.63 million units in September, extending the decline to a 12th consecutive month. Exports remained a key growth driver as automakers looked overseas to cushion sluggish domestic demand.
Jefferies kept Porsche at hold with a 49 euro target after investor-event remarks on margins and cash returns. UBS raised Volvo to buy and Bernstein upgraded Continental to outperform, while shares in the sector were mixed.
Li Auto reported second-quarter 2026 revenue of RMB 25.7 billion, down 15.1% year over year but up 11.7% sequentially, with vehicle sales contributing RMB 24.1 billion.