On October 9, 2026, Siles Group Co., Ltd. (Siles) announced a decline in both production and sales of electric vehicles (new energy vehicles) in September, with sales decreasing by 34.48% compared to the same period last year. The automotive market in China displayed a significant divergence in September.
According to the “September 2026 Production and Sales Quick Report” released by Siles on October 9, the production of new energy vehicles in September was 28,400 units, down 37.55% year-on-year, while sales reached 29,300 units, a decrease of 34.48% compared to the same period last year. In the first nine months of this year, the cumulative production of new energy vehicles was 258,000 units, down 16.78% year-on-year, and cumulative sales were 256,500 units, a decrease of 15.79% year-on-year.
The decline in production and sales for Siles directly impacted its secondary market stock prices. According to “Money Prospecting Society” under Yunnan Daxuan Enterprise Management Co., on October 6, Siles’ A-share stock price fell by 5.09% and H-share fell by 6.12% on September 15. Prices on its second-hand car platform also softened, with some dealers reducing prices by several thousand yuan and others temporarily withdrawing their listings to observe the market.
In China, September is marked by two long holidays, Mid-Autumn Festival and National Day, during which businesses often ramp up promotional efforts, leading to a significant increase in product sales. Hence, in the Chinese industry, there is a concept known as “Golden September.” However, many car manufacturers faced challenges in September this year.
According to various media reports such as OFweek New Energy Vehicles, traditional joint venture car companies experienced a decline in sales in September. SAIC Volkswagen saw a 35.80% year-on-year decrease in sales, while SAIC-GM witnessed a 19.14% decrease, directly affecting the overall vehicle sales of SAIC Group, which dropped by 7.67% year-on-year.
In September, Li Auto delivered approximately 32,000 vehicles, a 6.3% decrease from the previous year. Several sub-brands of Great Wall Motors saw differentiation in September, with significant year-on-year declines in some main segments: WEY brand’s sales were down by 36.73% to 6,976 units, Tank brand’s sales decreased by 29.21% to 15,178 units, and Haval brand’s sales dropped by 18.76% to 66,558 units.
Among Changan Automobile’s electric vehicle brands, Changan New Energy sold 30,185 vehicles in September, down by 10.23% year-on-year, while Aiways sold 8,183 vehicles, a 25.8% decrease compared to the same period last year.
Overall, the automotive market in September presented a highly polarized situation, with some companies like BYD, SAIC Group, and Geely maintaining growth through overseas sales, while certain traditional joint ventures, companies in transition, and new players faced the challenge of declining sales.
Public records show that Siles was established in 2016 and is headquartered in Chongqing. The company specializes in new energy and intelligent electric vehicles, with its flagship being the Manjie high-end series co-developed with Huawei, as well as the BlueDrive E5 plug-in hybrid SUV. The company was listed on the Hong Kong Stock Exchange in November 2025.