AutoBeta(AutoBeta.net)11/11 Report--

Retail sales in the domestic passenger car market in October 2024 were 2.261 million, up 11.3 per cent from a year earlier and 7.2 per cent month-on-month, according to the Federation of passengers. Of these, retail sales of new energy passenger vehicles were 1.196 million, up 56.7 percent from the same period last year and 6.4 percent month-on-month. The domestic retail penetration rate of new energy vehicles was 52.9 percent, exceeding 50 percent for four consecutive months of the year.

Judging from the retail sales list of new energy manufacturers in October, the top 10 car companies in the list are BYD Automobile, Geely Automobile, SAIC General Motors Wuling, Changan Automobile, Chery Automobile, ideal Automobile, Tesla China, Zero Automobile, Cyrus Automobile, and Guangzhou Auto Ean. Among them, Guangzhou Auto ranked 10th on the list, the only car company on the list that showed a year-on-year decline, down 22.8% from the same period last year, while other models increased to varying degrees, with the highest increase being Chery Automobile, up 416.3% from the same period last year.

Let's take a look at GAC Ean, a new energy brand owned by GAC GROUP, which is now in decline, with sales falling 22.8 per cent year-on-year to 31925 vehicles in October and 291888 vehicles in the first 10 months of the year, down 26.8 per cent from the same period last year. At present, GAC Ean's sales mainly come from AION Y and AION S, which sold 13587 and 9128 vehicles respectively in October, while AION V sold 7110 vehicles. On November 6th, AION RT launched its new car based on AEP 3.0pure electric platform, positioning medium-sized pure electric car, a total of four models were launched, the price range is 11.98-165800 yuan, the power is equipped with 55.1kWh and 68.1kwh battery pack, the pure electric range is 520km and 650km respectively, competing with Xiaopeng MONA MO3, Deep Blue L07, Toyota bZ3 and other comparable pure electric cars in the car market. The launch of new cars may lead to an increase in sales of Ian cars.

Among the many new energy manufacturers in October, the most obvious increase was Chery, whose October sales rose 416.3 per cent to 57410 vehicles from a year earlier, while cumulative sales in the first 10 months of the year were 289551, up 243.7 per cent from a year earlier, with a market share of 3.5 per cent. Yin Tongyue, party secretary and chairman of Chery Holdings Group, said at the previous ceremony that Chery would achieve its goal of selling 1 million cars quarterly, or even 1 million vehicles a month, and become one of the top 10 global car companies at a faster rate.

For other manufacturers, BYD continued to top the list in October, becoming the only company on the list with sales of 431367 vehicles, leading a group of independent and joint venture brands, up 67.2% from a year earlier; cumulative sales for the year were 2897974, up 35.2% from a year earlier, with a market share of 34.8%.

Geely ranked second with sales of 106148 vehicles, up 84.9% from a year earlier; cumulative sales for the year rose 93.9% to 633241 vehicles. In addition, Changan Automobile squeezed into fourth place, with October sales of 64130 vehicles, an increase of 32.7% over the same period last year, and cumulative sales of 477762 vehicles, an increase of 60.3% over the same period last year.

In third place was SAIC GM Wuling, with sales of 82677 vehicles, up 69.0% from a year earlier; cumulative sales for the year rose 40.4% to 472373 vehicles.

Ideal car is the only car company on the list in the Wei Xiaoli camp, with sales up 27.3% to 51443 in October from a year earlier, with a total of 393255 vehicles for the year, up 38.16% from a year earlier. Xiaopeng and Xilai sold 23917 and 20976 cars respectively, with cumulative sales of 122478 and 170257 respectively this year. In addition, zero-running cars also entered the list, ranking eighth with sales of 36086, an increase of 98.3% over the same period last year, with a total of 211038 vehicles this year, but failed to make it into the top 10.

Selis also posted a good increase in October, rising 142.9 per cent year-on-year to 34005 vehicles, with cumulative sales of 323486 vehicles, an increase of 497.8 per cent.

Judging from the overall sales list in October, with the blessing of "Silver Ten", the sales of many new energy vehicle manufacturers are still very good in October, and most of them have achieved year-on-year growth. It should be noted that since 2024, the demand of China's new energy vehicle market has maintained rapid growth, but at the same time, it has also intensified the competition among major car companies. Generally speaking, after the peak season of traditional car sales, near the end of the year, November and December are also key points for auto companies to sprint sales. As for whether the car market can enter a stronger rebound in sales in the last two months of each year, let's wait and see.

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