Beijing on November 27 (Reporter Liu Hao) After two months of temporary stability, China's car production in October was further downgraded, with output falling 19.1% from September and 14.2% from the same month of last year. According to the statistics released by the National Bureau of Statistics on the 26th, a total of 143,500 cars were produced in October, only 58.5% of the output in March. In the double blow of sharp decline in vehicle prices and continuous shrinkage of production and sales, the auto industry’s profits have sharply shrunk. In the first three quarters of this year, the profit of automobile manufacturing industry fell by 7.9% year-on-year, the first time in six years. In the third quarter, the profit for the quarter fell by 33.6% year-on-year, a decrease of 44.5% from the second quarter. According to experts from the National Bureau of Statistics, car production in the last two months of the year is likely to continue to decline year-on-year. It is difficult to achieve even the forecasted target of 2.39 million vehicles for the whole year, even after the previous year's downward adjustment. At present, the decline in the production and sales of cars in the fourth quarter is basically a foregone conclusion, and it is difficult to stop the decline in car profits. Since this year, the wave of price-cutting in the car market has caused all manufacturers to lose the initiative to cut prices. Passive price cuts have caused market sales to remain sluggish. In previous years, the “Eleventh†Golden Week, which has been the sales season, has suffered dismal sales this year. Due to the decline in the proportion of credit car purchases, rising oil prices, unpredictable vehicle prices, and lack of recognition of new traffic regulations, Beijing’s automobile market sales in October not only failed to rebound, but hit a new low this year. 31,000 vehicles, a substantial decrease of 27.2% year-on-year. (Finish)
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