Auto Federation: It is estimated that the retail sales of exclusive new energy vehicles in September will reach 1.1 million units, a year-on-year increase of 47.3%.

On September 20, the China Passenger Car Association stated that it is expected that the narrow passenger car retail market in September will be around 2.1 million units, a year-on-year increase of 4%, and a month-on-month increase of 10.1%. The retail of new energy vehicles is expected to reach around 1.1 million units, a year-on-year increase of 47.3% and a month-on-month increase of 7.3%, with a penetration rate of approximately 52.4%. Outlook for September auto market The national scrappage policy and various local trade-in policies remain stable and are driving market growth. Coupled with the effects of the Mid-Autumn Festival and National Day, the auto market in September is showing a rapid growth trend, with a significant "benefit of September" effect. Manufacturer sales trends The latest research results show that the overall discount rate in the second week of September is about 24%, which is basically the same as last month. Top manufacturers, accounting for nearly 80% of total retail sales, have seen a month-on-month increase of approximately 10% in retail targets this month. Preliminary estimates indicate that the overall narrow passenger car retail market this month will be around 2.1 million units, a year-on-year increase of 4%, and a month-on-month increase of 10.1%. The retail of new energy vehicles is expected to reach around 1.1 million units, with a penetration rate of approximately 52.4%. Weekly trend estimation In the first week of September, the daily average retail sales were 48,400 units, a year-on-year increase of 10.5%, and a month-on-month increase of 5.4%. The high market heat at the end of August has continued. In the second week, before the Mid-Autumn Festival and with 6 full working days, the daily average retail sales reached 62,900 units, a year-on-year increase of 26.2%, and a month-on-month increase of 17.8%. The third week includes the Mid-Autumn Festival and the period after the festival, with a large wave of orders and deliveries during the holiday season. The daily average retail sales were 71,400 units, a year-on-year increase of 19.5%, and a month-on-month increase of 29.8%. The Mid-Autumn Festival in 2023 is later, and it overlaps with National Day holiday in 2023. The fourth week of September in 2023 will see a concentrated delivery before the festival, which may lead to higher year-on-year comparison; this year's fourth week of September is expected to be relatively stable, with a daily average retail sales of 96,500 units, a year-on-year decrease of 14.4%, and a month-on-month increase of 11.8%. It is estimated that the total retail sales in September will reach around 2.1 million units. "Golden September" auto market surge Since August, the number of applications for scrappage subsidies has been increasing rapidly. As of September 19th, more than 1.07 million applications for scrappage subsidies have been received nationwide. By September 19th, almost all provinces in the country have implemented trade-in subsidy policies, with substantial subsidies per vehicle. It is expected to bring new growth momentum to the auto market. Research results from the dealership side show that terminal popularity is steadily increasing on a weekly basis in September, with high foot traffic during the Mid-Autumn Festival period, and the growth momentum of new energy vehicles slightly stronger than traditional fuel vehicles. Recently, entry-level pure electric models from new energy brands have been launched successively, following plug-in hybrid models, and the pure electric market may further expand, opening up the entry-level private consumer market.