(Yicai) Oct. 9 -- Analysts expect Chinese new energy vehicle makers to continue growing after many brands such as BYD, Li Auto, and Xpeng Motors revealed surging sales for last month.

New regional subsidies in September and favorable prices can support the NEV market to maintain a bullish trend, Huaxi Securities noted during the recent Golden Week holiday when several NEV startups disclosed their performance for the past month.

Sales of passenger NEVs could reach 8.5 million units this year as the market is in line with the expectations, the China Passenger Car Association estimated recently. Last month, wholesale figures are expected to tally 830,000 units, up by 23 percent year-over-year and a 4 percent increase from August. In the first nine months of this year, wholesale numbers are predicted to jump by 36 percent to exceed 5.9 million units.

BYD sold about 290,000 units in September, up 43 percent from a year earlier, the Shenzhen-based company announced yesterday. From January to September, sales surged by three-quarters to 2.1 million units.

GAC Aion sold nearly 51,600 units last month, up 72 percent from a year ago. Li Auto delivered 36,060 units, a more than threefold increase. Clients of Nio received over 15,640 new vehicles, up 44 percent. Xpeng Motors delivered 15,310 new cars, an 81 percent addition.

Leapmotor Technology’s sales grew by 43 percent to 15,800 units. Geely Automobile Holdings’ Zeekr delivered 12,053 units, up by 46 percent. State-owned Dongfeng Automobile’s Voyah brought 5,010 units to clients last month, a nearly twofold boost.

However, not all were growing. Hozon Auto delivered more than 13,210 units, a 27 percent drop from a year earlier. Seres Group, which cooperates with Huawei Technologies on software, sold over 17,950 cars, a 38 percent decrease, while its NEV sales slipped by 42 percent to almost 10,250 units.

Editor: Emmi Laine