Cui Dongshu of the Passenger Transport Association published an article stating that the current competitive characteristics of the domestic auto market stock are prominent, export demand has skyrocketed, and the segmentation within the industry continues to intensify. The new energy market bid farewell to global growth, showing a polarized trend of “the explosion of high-end electric vehicles and pressure on mini electric vehicle models”. The decline in the county and rural markets and entry-level models was too great. At the same time, the “new car effect” has been shortened, and its driving effect on the market has been greatly reduced. Pressure on the channel side continues to be prominent, the pace of passive inventory removal in the industry is speeding up, and dealers are generally losing money and operating risks are rising. Overall, the month-on-month strengthening of the car market in September was only a structural restoration. Iteration of electrification and overseas exports have become the core support for the long-term growth of the industry. Passenger car retail sales fell 28% and wholesale fell 9% in September 2026. The retail growth rate was much weaker than the wholesale growth rate, forming a pattern of internal cooling and external heat.

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