In October, the national passenger car retail increased by 8% year-on-year, and the new energy vehicle increased by 110.4% year-on-year

 In October, when production volume restrained wholesale and retail, domestic passenger car wholesale and retail remained flat and performed well.

The auto market "Silver Ten" has stabilized.

On November 9th, the China Passenger Car Association announced the analysis data of the national passenger car market in October this year. In October, the passenger car market retailed 1.992 million units, an increase of 8% year-on-year and a month-on-month increase of 4.1%, achieving year-on-year growth for three consecutive months. , Chain growth.

From January to October, the cumulative growth rate of passenger car retail across the country was -10.2%, an increase of 2 percentage points from the cumulative growth rate of -12.5% ​​from January to September. The industry has shown a steady recovery.

In October, which includes the 8-day National Day and Mid-Autumn Festival holidays, the production time was greatly shortened. The domestic passenger car production increased by 6.8% year-on-year to 2.064 million units, which was only 0.4% higher than the month-on-month production in September, but the wholesale sales in October were year-on-year. An increase of 8.7% to 2.072 million vehicles. Excluding the export volume of 73,000 passenger vehicles, in October, when the production volume restrained the wholesale and retail sales, the domestic passenger vehicle wholesale and retail sales remained flat and performed well.

According to the Federation, this year’s National Day holiday is unfavorable for manufacturers’ output, leading to a continuous decline in manufacturers’ inventories during the National Day and Mid-Autumn Festival in October. At the end of October, manufacturers’ inventories decreased by 43,000 units and channel inventory increased by 10,000 units.

New energy passenger vehicles still lead the growth. In October, the wholesale sales of new energy passenger vehicles exceeded 144,000, a year-on-year increase of 119.8% and a month-on-month increase of 15.9%. The retail sales of new energy passenger vehicles reached 133,000, a year-on-year increase of 110.4 %.

Specifically, the new energy companies that sold more than 10,000 vehicles in October include SAIC-GM-Wuling (29,711), BYD (22,395), SAIC Passenger Vehicle (12,785), and Tesla China (12,143).

Focusing on the development environment of new energy vehicles at home and abroad, the Passenger Association analyzed that the development of new energy vehicles in China is conducive to the sustainable development of China's related industrial chains, forming the layout and landing of the industrial chain of new energy vehicles and new energy batteries in China , And Biden’s election as President of the United States will favor new energy, including making the United States a 100% clean energy economy and re-entering the "Climate Change Paris Agreement", which will support the development of new energy.

Looking forward to the development in the fourth quarter, the Federation of Passenger Vehicles believes that the trend of the national passenger car market is a characteristic of steady and strong growth and will not achieve explosive growth.

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