此前，第一财经深入报道的《"大字吹牛，小字免责"：车圈营销乱象，正在裹挟消费者》一文中，明确 指出近年来，汽车行业中存在"大字吸睛、小字免责"、违背科学常识、注水订单、细分领域抢"行业第 一"等多重营销乱象，揭露了车圈营销存在的不良风气，引起了行业、相关部门的高度重视。此前，第 一财经也从知情人士处获悉，市场监管总局已经在讨论"虚假营销认定方法"，后续可能会针对汽车行业 的夸大及虚假宣传进行治理。 引证广告中使用细分行业、细分领域或者细分区域"最佳"，或者销量、销售额、市场占有率"第一"等用 语进行宣传，但相关行业、领域小于国民经济行业分类等国家标准或者行业标准规定，或者相关地域小 于省级行政区域，可能导致消费者对经营主体及其产品、服务的市场地位、竞争优势产生误解的，不属 于《广告绝对化用语执法指南》相关规定的豁免情形。 对于部分企业宣传中违背客观物理常识等情况，《公告》提到，广告中引用的文献、资料应当真实存在 且可查询，其观点应当符合科学常识。 12月12日，市场监督管理总局发布《关于公开征求广告引证内容执法指南（征求意见稿）意见的公告》 （下称"《公告》"），"大字吸睛，小字免责""行业第一"等营销方式， ...

Core Viewpoint - The automotive industry is facing significant marketing issues, including exaggerated promotions and misleading advertising practices, which undermine consumer trust and the core values of vehicle manufacturing [1][10][14]. Group 1: Marketing Practices - Automotive marketing has become increasingly extravagant, with tactics such as "limited hunger marketing" and "order inflation" creating a sense of urgency among consumers [1][10]. - Many companies are using "big words" for attention-grabbing headlines while burying important disclaimers in small print, leading to potential consumer misunderstandings [4][5][7]. - The phenomenon of "order inflation" is prevalent, where companies manipulate order data to create a false impression of demand, raising concerns about the integrity of reported sales figures [10][11][12]. Group 2: Consumer Trust and Safety - The focus on flashy marketing has overshadowed the essential aspects of vehicle safety and quality, resulting in safety incidents and technical defects that erode consumer confidence [1][3]. - Legal experts highlight that misleading marketing practices could be classified as fraud under Chinese law, allowing consumers to rescind contracts based on deceptive advertising [8][9]. Group 3: Industry Response and Regulation - The China Automobile Dealers Association (CADA) has called for an end to misleading promotional practices and the publication of weekly sales rankings, which distort market realities and contribute to unhealthy competition [16][17]. - There is a growing consensus within the industry that marketing strategies need to be reevaluated to align with the traditional values of the automotive sector, emphasizing transparency and accountability [17].

Core Insights - The automotive industry is currently facing marketing chaos, with many manufacturers adopting unconventional strategies to attract consumers [1] Group 1: Marketing Strategies - Some companies are using repetitive slogans like "leading the way" to create a sense of superiority [1] - Others are engaging in misleading advertising practices, such as using large print for attention-grabbing headlines while burying disclaimers in small print [1] - There are also instances of "limited availability" marketing tactics that instill a sense of urgency and fear of missing out among consumers [1]

Core Viewpoint - The automotive industry is facing a significant issue of "order inflation," where companies are inflating order numbers for marketing purposes, leading to a disconnect between reported orders and actual sales [1][3]. Group 1: Order Inflation Phenomenon - The practice of announcing high order numbers during new car launches has become standard in the automotive industry, with reports indicating that small order numbers in China's passenger car market have exceeded 500 million this year, while actual wholesale and retail sales are significantly lower [1][2]. - The conversion rate of these small or blind orders is relatively low, with some companies reporting only a 10% conversion rate [1][2]. Group 2: Motivations Behind Order Inflation - The first driving logic is the combination of marketing pressure and herd mentality, where consumers prefer "hot-selling models" due to concerns about maintenance and resale value, prompting companies to create a false sense of demand [2]. - The second driving logic involves the need for companies to present impressive order numbers to investors and internal management, enhancing confidence and performance evaluations [2]. - The third driving logic is that companies feel compelled to inflate orders to remain competitive, as those who do not may face market pressure and need to invest more in promoting their genuine product capabilities [2]. Group 3: Long-term Consequences of Order Inflation - The practice of inflating orders can mislead consumer decisions, potentially harming their interests by pushing them towards unsuitable products [3]. - Inflated order data can disrupt production planning, leading to inventory issues and increased operational costs for companies [3]. - The integrity of honest companies is compromised, creating a vicious cycle where "bad money drives out good," undermining fair competition in the industry [3]. - The credibility of the industry is at risk, as consumers may lose trust in companies' data, affecting the overall development of the sector [3]. Group 4: Regulatory and Industry Response - Regulatory bodies have begun to address these marketing issues, launching a three-month campaign to rectify online misconduct in the automotive sector, focusing on illegal profit-making and false advertising [3][4]. - Some companies are proactively choosing to abandon the practice of inflating order numbers, instead focusing on metrics that better reflect real market demand, such as "lock-in rates" and "delivery targets" [4]. - The competition in the automotive industry should center on technology, products, and services rather than numerical games, as consumers become more rational and regulations tighten [4][5].

Core 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].

Core 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 for passenger cars in China 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 model launched last year that 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 visibility" has become a consensus in a highly homogeneous market [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 due to industry norms, where those who do not participate face greater pressure and resource allocation challenges [3]. Group 4: Consequences of Order Inflation - Misleading marketing can distort consumer decision-making, leading to unsuitable product choices [4]. - Order inflation can disrupt production plans, causing 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 5: Regulatory Response and Industry Shift - Regulatory bodies have initiated actions to address marketing irregularities in the automotive sector, with a three-month campaign to rectify illegal profit-making and false advertising [4]. - Some companies are beginning to reject the publication of small order data, focusing instead on more substantial metrics like "lock-in rates" and "delivery targets" [4]. - Industry leaders are calling for a return to product-centric marketing rather than data manipulation [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 evolving market [5].