China Passenger Car Association: In the first three weeks of December 2023, the retail sales volume of passenger cars reached 942,000 units, a year-on-year increase of 4%.

It was learned from the China Passenger Car Association that in December this year (December 1-17), the retail sales volume of the passenger car market reached 942,000 units, a year-on-year increase of 4%; the wholesale sales volume in the same period was 964,000 units, a year-on-year increase of 13%.

From January this year to date, the retail sales volume of the auto market has reached 20.287 million vehicles, a year-on-year increase of 5%; the cumulative wholesale sales volume has reached 23.78 million vehicles, a year-on-year increase of 9%.

Among them, the new energy market retailed 365,000 vehicles, an increase of 15% over the same period last year; manufacturer wholesale sales reached 404,000 vehicles, an increase of 23% year-on-year.

From January this year to date, the cumulative retail sales of new energy vehicles have reached 7.173 million units, a year-on-year increase of 34%; the cumulative wholesale sales have reached 8.177 million units, a year-on-year increase of 34%.

The China Passenger Car Association said: The auto market in December this year lacked the policy-based purchasing incentives of previous years, and the market trend was stable.

Since the implementation of new energy subsidies, most of the decline in new energy vehicle sales has occurred at the end of December, so December is a hot month for subsidies to drive consumption.

Last year's purchase tax rebate for fuel vehicles also expired in December, and this year everything has returned to normal, so consumer purchasing enthusiasm in December this year was far lower than in previous years.

To this end, many places have recently launched consumption promotion activities, effectively increasing sales through various means such as offline auto shows and issuing consumption coupons.

In order to achieve annual sales, various automakers have launched a new round of price cuts and promotions. The decline in price levels has greatly promoted sales growth.

Zikuai Technology