Mei Ri Jing Ji Xin Wen·2025-09-23 17:45Core Viewpoint - The automotive industry is facing a phenomenon of "order inflation," where companies exaggerate order numbers for marketing purposes, leading to a disconnect between reported orders and actual sales [1][3]. Group 1: Order Statistics - As of this year, the number of small orders in China's passenger car market has exceeded 50 million, with 80% completed within 72 hours of new car launches [1]. - From January to August, the cumulative wholesale sales of passenger cars in China were approximately 17.93 million, while retail sales were about 14.70 million, highlighting a significant gap between orders and actual sales [1]. Group 2: Conversion Rates - The conversion rate for small or blind orders is relatively low, with one electric vehicle company's chairman stating it is only 10% [2]. - For a specific model launched last year, which claimed to have 30,000 orders within 72 hours, the total delivery by July this year was only 50,000 units [2]. Group 3: Motivations Behind Order Inflation - The drive for inflated order numbers stems from marketing pressures and consumer psychology, where "sales equal voice" leads companies to create a false sense of demand [3]. - Small order data serves as a "confidence index" for consumers and a "report card" for investors and internal executives [3]. - Companies feel compelled to follow the trend of order inflation to avoid losing market share, even if it means resorting to misleading practices [3]. Group 4: Consequences of Order Inflation - Misleading marketing can distort consumer decision-making, leading to poor product choices [4]. - Order inflation affects production planning, potentially causing inventory buildup and resource misallocation [4]. - Honest companies face increased pressure, leading to a vicious cycle where bad practices drive out good ones [4]. - The credibility of the industry is at risk, as consumers may become skeptical of any reported data [4]. Group 5: Regulatory Response and Industry Shift - Regulatory bodies are taking action to address marketing irregularities in the automotive sector, with a three-month campaign launched to tackle illegal profit-making and false advertising [4]. - Some companies are beginning to reject the publication of small order data, focusing instead on more substantive metrics like "lock-in rates" and "delivery targets" [4]. - Industry leaders are calling for a return to product-centric marketing rather than relying on inflated order numbers [4]. Group 6: Future Outlook - The competition in the automotive industry is fundamentally about technology, products, and services, rather than numerical games [5]. - As consumers become more rational and regulations tighten, the space for inflated orders will diminish [5]. - Companies must shift focus from false prosperity to genuine user needs and enhance product and service quality to survive in the competitive landscape of the electric vehicle market [5].