text: Original by Dongchedi Li Dezhe
[Original by Dongchedi Industry] Dongchedi learned from the China Passenger Association that on October 24, the China Passenger Association announced the narrow-sense passenger car retail sales estimate for October. Passenger Car Association predicts that the retail sales of narrow passenger cars in October are expected to reach 1.91 million vehicles, with increasing 11.4% year-on-year and down 0.7% month-on-month.
Passenger Car Association predicts that the retail sales of passenger cars in narrow sense in October will be 1.91 million
Passenger Car Association stated that the average daily sales of major manufacturers in the first and second weeks of October was -26% and 13% respectively. The market is expected to rise steadily in the third week of October, with year-on-year growth expected to reach about 10%. At the same time, considering that the autumn auto show in many places across the country will resume exhibitions at the end of October, and other policies to promote consumption, manufacturers have stepped up their annual sales tasks before expires, and the fourth week has entered the end of the month-end volume phase. Due to the low base affected by chip shortage in the same period last year, the average daily retail sales are expected to increase by about 27% year-on-year. In terms of
manufacturer discounts, the China Passenger Car Association pointed out that the overall market discount rate of passenger cars in in mid-October was about 14.0%, and the overall price of was lower than last month (13.7%). According to the October retail target survey, the year-on-year growth of manufacturers accounting for about 80% of the total market reached double-digits. In addition, at the end of September, the comprehensive inventory coefficient of car dealers was 1.47. Many large and medium-sized cities will postpone the auto show originally scheduled for September and October to be held from late October to November, and the overall sales rhythm will be moved backward.
Passenger Car Association pointed out that the overall market discount rate of passenger cars in mid-October was about 14.0%
New energy vehicles, the Passenger Car Association believes that as the end of the year approaches, new energy production capacity will be further released, new products will be launched in batches, and manufacturers will accelerate the distribution of new cars. Stimulated by the expiration of national subsidies for new energy and local license policies, early purchases will be brought about by the end of the year. is expected to reach 550,000 new energy vehicle retail sales in October, with increasing by 73.5% year-on-year and down 10% month-on-month.
