Cui Dongshu of the China Passenger Car Association wrote that the most prominent feature of the October auto market is that the "peak season is not prosperous," and the traditional "Silver October" is seriously lacking in strength. Because the Mid-Autumn Festival fell in September, October had a longer sales period and performed better month-on-month than September. After the autumn harvest, incomes are in hand and the weather turns colder, so demand for vehicle use should have become prominent. However, this year the purchase performance of first-time buyers—who underpin growth in the autumn and winter auto market—was relatively poor; the A00 and A segments were sluggish, indicating that recent auto market policies mainly support consumption upgrading, and the rise in the threshold for subsidy quotas has somewhat suppressed the car purchase demand of groups without cars. The fuel vehicle market has long lacked new product launches, and rising usage costs are not conducive to the full release of the purchasing power of first-time buyers. Recently, high oil prices and rising prices of nonferrous metals and mining products have kept consumers' purchasing power and willingness to buy both relatively low.
