The overall auto market discount rate in mid-November approximated 24.1%, roughly flat compared to the same period last month, with no major change in the strength of the terminal offers and promotional policies, according to the latest findings of the Joint Committee on Market Information for Passenger Vehicles of the China Association of Automobile Dealers Association (CADA).

The pioneering automakers, which accounted for nearly 80% of the total market in terms of retail sales volume, are targeting an MoM increase of about 6.5% in retail sales this November. Based on preliminary estimation, the total narrowly-defined passenger vehicles (PVs) retail market in November will be around 2.4 million units, representing a YoY growth of 15.4% and an MoM growth of 6.1%, while new energy vehicle (NEV) retail sales are estimated to be as high as 1.28 million units, with a penetration rate of about 53.3%.

According to the Association, looking ahead to Double 11, the car market will continue to enjoy a high level of prosperity since October; the effect of the policy of scrapping, renewing and replacing vehicles will continue to be unleashed, which will steadily boost the car market; automakers will start to raise consumers' awareness through the promotion of Double 11 as well as the Guangzhou Auto Show in the middle of the month; and with the support of a number of favorable factors, the car market is expected to reinforce in popularity in November.
~



AAStocks Financial News
Web Site: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
TSLA (C)	10344	370 (-)	0.330	6.7 X
TSLA (P)	10434	180 (-)	0.061	4.3 X