Cui Dongshu: In September, the market value of automobile OEM companies fell 5% month-on-month in the U.S. stock market, 11% in the Hong Kong stock market, and 4% in the A-share market.

According to the Zhitong Finance APP, Cui Dongshu, Secretary-General of the China Passenger Car Association, stated in an article that among the market values of global vehicle manufacturers, those listed in the U.S. stock market are the largest, reaching 12.9 trillion yuan in September 2026, down 5% month-on-month from August and down 13% year-on-year from September 2025; the market value of vehicle manufacturers listed in the Hong Kong stock market also reached 0.87 trillion yuan, down 11% month-on-month from August and down 50% year-on-year; the domestic A-share market reached 1.4 trillion yuan, down 4% month-on-month from August and down 36% year-on-year. Here, for some companies listed in multiple locations on the A-share and Hong Kong stock markets, market value is weighted according to the primary listing venue, with the core examples being BYD (002594.SZ), Great Wall (601633.SH), and GAC (601238.SH) as A-share companies. Looking at the combined A-share and Hong Kong stock market values of Chinese automakers and parts companies, the A-share market tends to support smaller upstream companies in the automotive industry chain, while the Hong Kong stock market tends to support large vehicle manufacturers, and the differences in domestic personalized support are enormous.