Changes in Hong Kong stocks | Auto stocks fell again in September, the auto industry's profit margin fell to 1.4%, and the operating pressure on car companies continued to be too high

The Zhitong Finance App learned that auto stocks fell again. As of press release, Ideal Automobile-W (02015) fell 3.78% to HK$46.8; Xiaopeng Group-W (09868) fell 2.50% to HK$38.28; Great Wall Motor (02333) fell 1.94% to HK$6.075; and Chery Auto (09973) fell 1.64% to HK$22.86.

According to the news, from January to September 2026, automobile production was 23.37 million vehicles, down 4% year on year, revenue of 80,43.5 billion yuan up 2.6%, cost of 7162.7 billion yuan up 3.8%, profit of 267.5 billion yuan down 23%, and sales margin 3.3%; of these, in September, 3.06 million vehicles were produced, sales revenue of 1,037.4 billion yuan increased 0.6%, and cost of 925.7 billion yuan increased 2.5%. Profit of 14.2 billion yuan fell 68%, and sales margin was 1.4%, which is the lowest in nearly 4 years.

According to the report, in 2026, various regions vigorously promoted the implementation of the “two new” policies to gradually and effectively release the vitality of domestic demand, but the improvement in the efficiency of the automobile industry clearly lags behind other consumer goods. As the country's anti-domestic countervailing efforts continue to advance, the automobile industry is being squeezed upstream, costs have risen significantly, oil prices have skyrocketed, profits from non-ferrous metals and semiconductors have skyrocketed, and the wait-and-see mentality of end users buying cars is serious, causing the operating pressure on car companies to continue to be too high.