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The traditional auto market plunged 28%, and new energy vehicles rose strongly
Dec 03, 2018

After the bleak golden nine silver ten, the car manufacturers who hoped to be in November experienced the darkest month in 20 years.  

According to statistics from the Federation of Passengers: in the first three weeks of November 2018, passenger car sales fell sharply by 28% year-on-year.

The car market fell year-on-year, a record low in 20 years.

The car market is full of green sales

The traditional ''Golden September, Silver 10', this year no longer exists.

In September this year, the sales volume of automobiles was 2.394 million units, down 11.6% year-on-year; the sales volume in October was 2.38 million units, down 11.7% year-on-year.

In November, the momentum has not stopped, and car sales have fallen across the board. 

1.1

In the first week of November, the retail volume of the passenger car market was 35,000 units per day, down 41% year-on-year; the second week of retail sales was 51,600 units, down 23% year-on-year; the third week of retail sales was 52,300 units per day. It fell by 24%.

“The overall decline in the first three weeks has reached 28%.” Cui Dongshu, Secretary General of the Association, concluded.

To make matters worse, this negative growth momentum does not currently see any possibility of stagnation.

From January to October, the cumulative sales of narrow-seat passenger cars totaled 18.12 million, down 2.1% year-on-year. The ultra-high drop in November is expected to further widen the overall decline.

In 2018, the annual negative growth record of the auto market will be refreshed.

Many factors have caused the car market to plunge

The factors that have led to a sharp drop in sales in the auto market are manifold.

The first to bear the brunt is the pressure brought by the national six emission standards.

As the National Sixth Standard is about to be implemented, dealers and manufacturers will fall into the “chaotic period” of vehicle switching, and a large number of car buyers will enter the wait-and-see state and wait for the car market to recover.

On the other hand, the continued rise in the property market price has also spurred consumers' desire to buy to plummet.  

1.2

In the case of limited deposits, few people choose to buy a car instead of buying a house.

Finally, since the beginning of this year, the popularity of a variety of new modes of transportation has greatly reduced the desire of potential consumers to purchase.

Sharing bikes, dripping, and even the emergence of shared cars makes buying a private car so stupid.

Under the influence of the above three points, this year's auto market sales plummeted.  

1.3


Recently, Xin Guobin, deputy minister of the Ministry of Industry and Information Technology, said: The period of rapid growth of production and sales in the domestic auto market may have passed, and low growth is likely to be the normal state of the future development of the auto industry.

At the same time, the results of the statistics of 50 domestic independent brands this year are: At present, only the new energy and luxury car models still maintain a certain positive growth year-on-year.  

The upcoming 2019 will be a year for new energy vehicles to catch up with traditional cars.

Source: New energy vehicle business