CPCA: September retail sales of narrow passenger vehicles estimated at 1.69 million units; new energy vehicles estimated at 1.11 million units.

According to the Zhitong Finance APP, the China Passenger Car Association (CPCA) stated in a report that the September auto market has entered the traditional "Golden September and Silver October" consumption peak season, and terminal customer traffic is expected to continue recovering. The trade-in program and local subsidy policies will continue at the current pace, providing support for the "Golden September" market. However, consumer expectations and fundamentals have still not improved fundamentally, and coupled with long-term volatile increases in oil prices, the market's actual performance will be difficult to replicate the strength of "Golden September" in previous years. Based on a comprehensive assessment, the retail market size of narrow passenger vehicles in September is expected to be approximately 1.69 million units, up 9.7% month-on-month. On the ultra-high base of 2.241 million units in the same period last year, the year-on-year decline is expected to further widen to 24.6%. By energy type, new energy vehicles are expected to reach about 1.11 million units under the dual expectations of new car deliveries and quarter-end sales pushes, with a retail penetration rate of 65.7%.