车市喜提“银十”：出口、批发创新高，新能源助自主品牌提份额

Core Insights - The Chinese automotive market has achieved a successful "Silver October" with retail sales of 2.242 million passenger vehicles in October, a slight month-on-month decline of 0.1%, but still the second highest monthly sales of the year, following September [2] - The decline in retail sales is attributed to the Mid-Autumn Festival occurring in October and regional sales growth disparities, aligning with the earlier forecast of a "low start, mid-high, and flat end" trend for the year [2] - Despite the retail sales drop, wholesale volume reached 2.932 million units, a year-on-year increase of 7.6% and a month-on-month increase of 4.9%, with production hitting 2.951 million units, up 11.4% year-on-year [2] New Energy Vehicle Market - The new energy vehicle (NEV) market continues to expand, with wholesale sales of 1.621 million units in October, a year-on-year increase of 18.5% and a month-on-month increase of 8.5%, while retail sales reached 1.282 million units, up 7.3% [3] - The penetration rate of new energy vehicles in the retail market reached 57.2% in October, supported by policies such as tax exemptions for NEVs [3] - NEV exports also set a record with 251,000 units exported, a significant year-on-year increase of 104.2% [3] Electric Vehicle Segment - Pure electric vehicles remain the dominant segment, with wholesale sales of 1.02 million units in October, a year-on-year increase of 31.6% and a month-on-month increase of 7.5% [4] - The market share of pure electric vehicles reached 62.9%, while plug-in hybrids accounted for 29.6% and range-extended vehicles for 7.5% [4] - The structure of new energy vehicle sales has shifted significantly, with pure electric and range-extended vehicles now comprising 74% and 26% respectively, compared to last year's 49% and 51% [4] Domestic Brand Performance - Domestic brands achieved retail sales of 1.55 million units in October, a year-on-year increase of 4% and a month-on-month increase of 3%, capturing a market share of 68.7% [4] - The leading traditional automakers are successfully transforming, with brands like Geely, Changan, and Great Wall showing significant market share increases [4] - The independent new energy brands from traditional automakers, referred to as "second-generation" brands, have also seen their market share rise to 15%, an increase of 2.8 percentage points year-on-year [5]