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 Viewpoint - The automotive industry is experiencing a significant issue with "order inflation," where companies exaggerate pre-sale orders to create a false sense of demand, leading to consumer skepticism and potential long-term damage to brand credibility [1][2][3] Group 1: Order Types and Practices - There are two main types of pre-sale orders in the automotive industry: "small orders" and "large orders." Small orders involve minimal upfront payments (ranging from 1,000 to 5,000 yuan) and can be easily refunded, while large orders require a more substantial deposit (typically between 10,000 to 20,000 yuan) and are often non-refundable [1] - The lack of third-party oversight allows car manufacturers to manipulate order data freely, leading to inflated figures that misrepresent actual consumer interest [2] Group 2: Impact of Order Inflation - The practice of inflating order numbers can lead to distorted industry data, which is crucial for strategic decision-making and policy formulation, ultimately resulting in inefficient resource allocation [2] - A significant discrepancy between reported orders and actual deliveries can erode consumer trust in brands, negatively impacting long-term relationships with customers [2] - The competitive landscape of the automotive industry, particularly in the electric vehicle sector, has led some companies to prioritize short-term gains through inflated order numbers rather than focusing on product quality and innovation [3] Group 3: Recommendations for Improvement - To address the issue of order inflation, the industry needs to establish a more transparent oversight mechanism, including the involvement of third-party organizations and real-time public disclosure of delivery data [3] - Regulatory bodies should enhance scrutiny of pre-sale data, imposing strict penalties on companies that engage in malicious data inflation practices [3]

Core Viewpoint - The automotive industry is facing a growing issue of "order inflation," where companies exaggerate pre-sale orders to create a false sense of demand, leading to consumer skepticism and potential long-term damage to brand credibility [1][2][3] Group 1: Order Types and Practices - Pre-sale orders are categorized into "small orders" and "large orders," with small orders being refundable deposits ranging from 1,000 to 5,000 yuan, while large orders involve non-refundable deposits typically between 10,000 to 20,000 yuan [1] - The lack of third-party oversight allows companies to manipulate order data freely, leading to inflated figures that misrepresent actual market demand [2] Group 2: Impact of Order Inflation - "Order inflation" can distort industry data, affecting strategic decisions and resource allocation, ultimately leading to inefficiencies [2] - The discrepancy between reported orders and actual deliveries can erode consumer trust in brands, damaging long-term relationships [2] - The competitive landscape is shifting towards superficial metrics, where companies prioritize order numbers over genuine product development and service improvement [3] Group 3: Need for Regulation - There is a pressing need for a transparent industry oversight mechanism, including third-party verification and real-time delivery data publication, to restore market integrity [3] - Regulatory bodies should enhance scrutiny of pre-sale data, imposing severe penalties for companies found to be engaging in deceptive practices [3]

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 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 at approximately 17.93 million and 14.70 million respectively [1][2]. - The conversion rate for 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 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 follow the trend of order inflation to avoid market pressure, leading to a cycle where honest companies must invest more in marketing to compete [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 "bad money drives out good" scenario that undermines fair competition [3]. - The overall credibility of the industry is at risk, as consumers may lose trust in reported data, affecting the industry's foundation [3]. Group 4: Regulatory and Industry Response - Regulatory bodies have begun to address the issue, with a three-month campaign initiated to rectify marketing irregularities in the automotive sector, focusing on illegal profit-making and false advertising [3][4]. - Some companies are proactively moving away from reporting inflated order numbers, instead focusing on metrics like "lock-in rates" and "delivery targets" that better reflect actual market demand [4]. - Industry leaders are advocating for a return to product-centric competition rather than numerical games, emphasizing the importance of addressing real consumer needs and enhancing product quality [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][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]

其一，营销绑架与从众心理。在新能源赛道高度同质化的今天，"销量即声量"成为共识。消费者担心未 来维修难、保值低，因此倾向于选择"爆款"以避免成为"小众车主"。因此，部分车企不惜通过刷单制造 热销假象，误导消费者决策。 其二，向上管理与资本游戏。小订数据不仅是给消费者看的"信心指数"，更是给投资者和内部高管 的"成绩单"。 其三，部分车企被迫"随大流"。当订单"注水"狂欢成为主流，坚守定力、不愿造假的企业反而会面临更 大压力，其需要投入更多资源、精力、成本，才能对冲虚假信息的干扰。而投机取巧者却能以低成本的 话术迅速抢占市场份额，且由于数据不公开、难核实，"注水"几乎无法律风险。 不过，订单"注水"虽能短期制造声量，长期却危害深远，这种饮鸩止渴式的营销策略，不仅会对品牌价 值造成不可逆的伤害，也不利于汽车产业的高质量、可持续健康发展。 "如果按照大家公布的订单数（统计），都有1亿了。我们没有参与这个'通货膨胀'。现在车企晒订单已 经变得偏营销，不利于产销的匹配，容易'自己给自己挖坑'。"日前，蔚来董事长李斌在"2025蔚来日 （NIO Day）"上的这番表态，如同一面镜子，照出了当下汽车行业存在的"订单注水"乱 ...

Core Viewpoint - The automotive industry is facing a phenomenon of "order inflation," where companies report inflated order numbers for marketing purposes, leading to a disconnect between reported orders and actual sales [1][4]. 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 first driving logic is marketing and herd mentality, where companies create a false sense of demand to attract consumers who fear being left with less popular models [3]. - The second logic involves managing investor perceptions, as small order numbers serve as a confidence index for both consumers and investors [3]. - The third logic is that companies feel pressured to inflate orders to keep up with industry trends, leading to a cycle where honest companies struggle to compete [3]. Group 4: Consequences of Order Inflation - Misleading marketing can distort consumer decision-making, potentially leading them to choose unsuitable products [4]. - Order inflation can disrupt production plans, causing inventory buildup and resource misallocation [4]. - The practice undermines the survival of honest companies, creating a vicious cycle where bad practices drive out good ones [4]. - It also damages industry credibility, as consumers become skeptical of any reported data when popular models fail to deliver [4]. Group 5: 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 inflated 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, emphasizing the importance of genuine consumer needs and product quality [4][5]. 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 abandon the obsession with false prosperity and focus on real user needs to survive in the competitive landscape of the electric vehicle market [5].