Although many people believe that the domestic auto market is still sluggish and there will be no major changes by the beginning of next year, the latest statistics from the China Association of Automobile Manufacturers show that since July this year, the monthly sales of Chinese cars have fallen to the bottom since July. The domestic auto market began to recover slowly. From January to September, sales of domestic cars have risen for three consecutive months, and the increase has increased month by month. At the same time, the industrial inventory of domestic car manufacturers is also gradually reduced. There are various signs that the domestic auto market is ebbing and it is beginning to pick up. Since China's accession to the WTO at the end of 2001, the domestic car market has experienced a “blowout†market, which has seen rapid growth for two consecutive years. In March this month, sales reached a record 226,200 vehicles in a single month. Since the start of April, the auto market has begun to show signs of fatigue and sales have fallen month by month. In April, May and June, sales were 220,100, 177,700 and 167,300, respectively, which fell for three consecutive months. In the face of the downturn in the auto market and the drastic increase in inventory, domestic car manufacturers have adjusted production plans on the one hand, reduced production, and worked hard to reduce costs; on the other hand, they have reduced prices and promoted inventory. In July, the national car production was 176,600, which was a decrease of 39,000 vehicles from June, a decrease of 22%. In July, the national car sales reached 169,900, which was 1.6 percentage points higher than that in June and began to stabilize. In August, domestic car production continued to decrease to 171,900 units. Sales volume continued to increase to 170,300 units, and the monthly sales rate reached 99%. In September, the car price reduction effect began to appear. The monthly sales reached 194.1 thousand units, which was more than 20,000 vehicles sold in August, an increase of 13.94%. This sales performance has been higher than the 184,700 vehicles in February this year. In September, the national car production was 182,800 units, an increase of 6.32% compared with August, and the first-ever single-month sales exceeded production. Domestic top ten sedan manufacturers accounted for three-fourths of sales of domestic cars. From the performance of the first three quarters, the North and South two Volkswagens and Tianjin FAW Xiali and Shenlong Automotive had negative sales growth, and Shanghai Volkswagen and FAW Volkswagen dropped 7.96 and respectively. 2.98 percentage points, the other two dropped by 27.25 and 18.72 percentage points respectively. However, the other six companies have a 11.79% increase in Changan Motors, and the other ones are all very high. In the first three quarters of Beijing, Hyundai’s sedan grew by 153.96%, and Guangzhou Honda grew by 69.53%. Shanghai General Motors increased by 48.76% and Chery Automobile increased by 43.34%. Relevant experts believe that after several rounds of price cuts, the prices of domestic small cars that are currently suitable for home use are tending to be stable. The international oil prices remain high, and domestic fuel prices have also reached new highs. More and more auto consumers are starting to rational consumption. It is necessary to consider the cost of a one-time purchase of a car, but also consider the cost of long-term use. Fewer and fewer automotive consumers are pursuing large displacements, high horsepower, and large sizes. This is illustrated by the recent hot selling of the sedan with a small displacement, short body and fuel economy. The change in consumer attitudes, and the increasingly innovative and affordable prices of the domestically-produced economical car models, will surely bring about a new round of household car consumption. Recently, several domestically produced high-end cars could not stand still. They started to cut prices and promoted sales of high-end cars. In the first three quarters of this year, the production and sales of cars in China increased by 22.02% and 20.68%, respectively, and it is expected that the annual growth could still exceed 20%. Although this increase is far lower than the previous two years, it is still quite high compared with other countries such as Europe and the United States.
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