On October 27, Cui Dongshu, the Secretary-General of the China Passenger Car Association, highlighted in an article that during the first nine months of 2026, the automobile production volume reached 23.37 million units, marking a 4% year-on-year decline. Meanwhile, the revenue soared to 8,043.5 billion yuan, up by 2.6% year-on-year. However, costs also surged to 7,162.7 billion yuan, representing a 3.8% year-on-year increase. Profits plummeted to 267.5 billion yuan, a significant 23% drop compared to the previous year, resulting in a sales profit margin of merely 3.3%.
Specifically, in September, automobile production stood at 3.06 million units, with sales revenue reaching 1,037.4 billion yuan, showing a slight 0.6% year-on-year increase. Costs, on the other hand, climbed to 925.7 billion yuan, a 2.5% rise from the previous year. Profits took a severe hit, plummeting to 14.2 billion yuan, a staggering 68% decrease year-on-year, and the sales profit margin dwindled to just 1.4%, the lowest figure observed in the past four years.