Cui Dongshu, Secretary General of the China Association of Automobile Manufacturers Strong Demand for New Energy Vehicles in Medium-Sized Cities

Cui Dongshu, Secretary General of China Association of Automobile Manufacturers, Urges for Increased Demand of New Energy Vehicles in Medium-Sized Cities

【PhoneAuto News】Recently, PhoneAuto noticed that Cui Dongshu, Secretary-General of China Association of Automobile Manufacturers, wrote a post stating that the new energy vehicle market has shown seasonal strength in October, with a slight increase in domestic retail sales compared to September, and exports continue to maintain strong growth. Since the beginning of this year, the new energy vehicle market has remained prosperous, with cumulative retail sales reaching 5.97 million units, a year-on-year increase of 35%. At the same time, the export of new energy vehicles has also performed well, with cumulative exports reaching 850,000 units from January to October, a year-on-year increase of 0.9 times. Cui Dongshu predicts that the exports of new energy vehicles will continue to grow sharply in the coming months.

The prosperity of the new energy vehicle market is mainly attributed to the decline in raw materials such as lithium and nickel, which has led to a downward trend in the price of power batteries. This trend is beneficial for companies to reduce production, destock, and introduce new products. In addition, the rapid growth in demand for plug-in hybrid models in the consumer market has also driven the strong growth of plug-in hybrid models.

In terms of market structure, the proportion of new energy passenger car sales in major cities is gradually declining, while the demand in medium-sized cities and rural markets is gradually increasing. This indicates that the new energy vehicle market is expanding to a wider geographic area, rather than being limited to large cities.

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Furthermore, Cui Dongshu also pointed out that the new energy vehicle market will continue to maintain a growth trend in the coming months. On the one hand, policy support will continue to promote the development of the new energy vehicle market; on the other hand, consumer acceptance of new energy vehicles is also continuously improving.

Currently, the prosperity and development of the new energy vehicle market have injected new vitality into the automotive industry. With continuous technological advancements and the continued expansion of the market, new energy vehicles will become the dominant force in the future automotive market. At the same time, for companies, seizing the opportunities in the new energy vehicle market, strengthening technological innovation and product research and development will be the key to future competition.

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