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[YesAuto News] The overall growth rate of the auto market this year has slowed. The cumulative sales in the first three quarters reached 20.49 million, a year-on-year increase of only 1.5%. The sales growth rate continued to decline in July, August, and September. That’s 11.6%. Has the winter of the car market arrived? On October 23, at a press conference held by the Information Office of the State Council, Xin Guobin, the deputy minister of the Ministry of Industry and Information Technology, said that low-speed growth may become the norm in the auto market, but the overall development of the auto industry is healthy.

Xin Guobin explained that the current growth rate of car sales has caused everyone to be entangled, and they all hope that the growth rate can be faster, but the reality is more “skinny”, not only the growth rate is not high, especially the recent three months of continuous negative growth year-on-year. He believes that there are many reasons for the slowdown in car sales growth, and it is normal.

my country's automobile production and sales base is already very large. In 2017, it reached a production and sales scale of 29.4 million vehicles. It is difficult to achieve sustained high-speed growth on this base. Judging from the current situation, the period of rapid growth in production and sales may have passed, and low growth may be the norm for future development.

However, Xin Guobin believes that there are many positive factors for the development of my country's automobile industry: First, the concentration of the automobile industry is further increasing, and the top ten companies in sales account for nearly 90% of the total sales. Second, the growth of main business income of the automobile industry is higher than the growth rate of production and sales. In the first 8 months, the main business income of the industry increased by 8.8% year-on-year, which means that the industry as a whole is relatively healthy. Third, new energy vehicles have maintained a good momentum of development. In the first three quarters, the production and sales volume of new energy vehicles reached 735,000 and 721,000 respectively, with year-on-year growth rates of 73% and 81%.

In addition, Xin Guobin also said that considering that the amount of replacement and replacement of old cars in my country is still very large, some small towns in the third and fourth tiers are in great demand. The future growth of the automobile market is relatively broad, but it will certainly not be as high as in the past Growth. (Source: Ministry of Industry and Information Technology; Compiler/Car Home Xiao Ying)