智通财经网·2025-11-05 07:52Core Insights - The retail sales of passenger cars in China for October 2023 reached 2.387 million units, representing a year-on-year increase of 6% and a month-on-month increase of 7% [1] - The wholesale volume for passenger cars in October 2023 was 2.922 million units, showing a year-on-year growth of 7% and a month-on-month growth of 4% [1] - The penetration rate of new energy vehicles (NEVs) in the passenger car market reached 58.7% in October 2023, with NEV retail sales totaling 1.4 million units, a year-on-year increase of 17% [1] Retail Market Performance - The average daily retail sales for the first week of October were 44,000 units, down 18% year-on-year and down 5% month-on-month [4] - The second week saw an increase to 85,000 units, up 7% year-on-year and up 38% month-on-month [4] - The average daily retail sales for the last week of October were 69,000 units, down 9% year-on-year and down 22% month-on-month [5] Wholesale Market Performance - The average daily wholesale volume for the first week of October was 30,000 units, down 21% year-on-year and down 36% month-on-month [8] - The second week recorded 76,000 units, with a year-on-year decrease of 1% but a month-on-month increase of 15% [8] - The average daily wholesale volume for the last week of October was 102,000 units, up 8% year-on-year and down 12% month-on-month [9] New Energy Vehicle Market - Cumulative retail sales of NEVs reached 10.27 million units in 2023, with a year-on-year growth of 23% [1] - Cumulative wholesale volume for NEVs was 12.061 million units, reflecting a year-on-year increase of 30% [1] - The NEV market is experiencing significant growth, with a penetration rate of 55.2% for wholesale [1] Market Trends and Influences - The "Golden September, Silver October" trend is evident, with October's retail performance affected by the holiday season and previous month’s strong sales [5] - The government's policy to promote vehicle trade-ins has positively impacted sales in September, leading to a strong performance that influenced October's figures [5] - The automotive export market is showing positive trends, particularly for domestic brands in overseas markets, indicating a shift in competitive dynamics [9]