Mei Ri Jing Ji Xin Wen·2025-09-23 22:40Core 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][4] Group 1: Order Statistics and Market Dynamics - 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] - In contrast, the wholesale and retail sales of passenger cars from January to August were approximately 17.93 million and 14.70 million respectively, highlighting a significant gap between orders and actual sales [1] - The conversion rate for small or blind orders is relatively low, with one electric vehicle company's chairman stating it is only 10% [2] Group 2: Motivations Behind Order Inflation - Companies are driven by marketing pressures and consumer psychology, where "sales equal voice" leads to the creation of 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 inflate orders to keep up with industry trends, as those who do not may face greater pressure and resource allocation challenges [3] Group 3: Consequences of Order Inflation - Misleading marketing can distort consumer decision-making, potentially leading to unsuitable product choices [4] - Order inflation can disrupt production planning, resulting in inventory buildup and resource misallocation [4] - The survival space for honest companies is squeezed, creating 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 data released by companies [4] Group 4: Regulatory Response and Industry Shift - Regulatory bodies have initiated actions to address marketing irregularities in the automotive sector, aiming to restore rationality in the industry [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 values, emphasizing the importance of genuine consumer needs and product quality [4][5] Group 5: 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 abandon the obsession with false prosperity and focus on real user needs and enhancing product and service quality to survive in the evolving market [5]