In an article, Cui Dongshu pointed out that driven by the national policies to promote consumption, the overall performance of the national auto market in October remained strong, with significant recovery in the truck and passenger bus markets. In October 2024, retail sales of passenger vehicles outperformed wholesale sales, resulting in a negative growth in retail sales of passenger vehicles in October this year. However, benefiting from exports and inventory increases, manufacturers' sales growth remained positive. The new energy vehicle market showed strong momentum in October, with the export market continuing to grow stronger. There were significant changes in manufacturers' inventories, leading to increased pressure in the industry. The commercial vehicle market exhibited structural growth driven by new energy vehicles, with accelerated electrification of logistics transportation and pickup truck models.
