Cui Dongshu: Stock competition in the auto market intensifies, new energy sector polarizes, exports become core support.

According to the Zhitong Finance APP, Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in an article that the current domestic auto market is characterized by prominent stock competition, surging export demand, and intensifying internal differentiation within the industry. The new energy vehicle market has bid farewell to all-around growth, showing a polarized trend of "explosive growth in high-end electric vehicles while micro electric vehicle models come under pressure," with county and township markets and entry-level models experiencing excessive declines. Meanwhile, the "new car effect" has become short-lived, significantly weakening its driving force on the market. Pressure at the channel level continues to mount, the industry's passive destocking pace is accelerating, dealers are generally operating at a loss, and business risks are rising. Overall, the month-on-month strengthening of the September auto market represents only a structural recovery, and electrification iteration and overseas exports have become the core support for the industry's long-term growth.