CPCA: October narrow passenger vehicle retail sales estimated at 1.600 million units, new energy vehicles estimated at 1.070 million units

According to the China Passenger Car Association's survey of automakers in early October, most leading automakers hold a cautious attitude toward the sales pace in the fourth quarter. In the first three quarters, most automakers' annual target completion rates were below 60%, leaving considerable room for a sales push in the fourth quarter; however, "anti-involution" efforts and terminal profitability pressure have constrained the room for price-for-volume strategies. Overall, automakers' inventory strategies in October are trending toward prudence. Based on weekly trend analysis, the retail market size for narrow passenger vehicles in October is estimated at about 1.6 million units, down 1.1% month-on-month and down 28.9% year-on-year. By energy type, new energy vehicles, supported by earlier orders, are expected to reach about 1.07 million units, with a retail penetration rate of approximately 66.9%, slightly down from the quarter-end high in September, in line with normal seasonal trends.