The "golden nine and silver ten" in the car market have faded domestically, but exports have surged

According to data from the China Association of Automobile Manufacturers, automobile production and sales in October decreased by 8.8% and 9.2% year-on-year, respectively. The cumulative year-on-year decline in production and sales in the first 10 months exceeded 5%. Domestic sales of passenger cars decreased by 25.2% year-on-year, while exports increased by 69.6%. The decline of fuel vehicles is the main drag factor, and the penetration rate of new energy vehicles has risen to 64.3%. The industry expects the domestic market to be under pressure throughout the year, and the contradiction between strong supply and weak demand still exists.