Automotive industry: Energy standards improve sequelae

The month-on-year growth rate of the auto market in October was lower than the same period last year. According to the latest data released by the China Association of Automobile Manufacturers, in October 2011, China achieved a total of 1.5248 million vehicle sales, which was a decrease of 7.37% from the previous month and a year-on-year decrease of 1.07%. The year-on-year growth rate showed negative growth for the first time since the fourth consecutive month since June. The increase in energy saving subsidies directly caused the fall of passenger cars in October. The increase in energy subsidies standards prompted consumers to purchase cars ahead of schedule in September. In October, passenger car sales naturally declined. The sales of general passenger vehicles in the month increased by 1.42% year-on-year, of which sales of cars, SUVs, and MPVs increased by 2.76% and 21.58 respectively year-on-year. % and 12.92%, cross-type passenger vehicles in September after a rare positive growth, down 17.74% year-on-year; commercial vehicles continue to slump. Sales volume of commercial vehicles remained negative year-on-year in October. Excluding the year-on-year increase of 23.33% for passenger vehicles, other commercial vehicle models continued to show negative growth. Exports were bright spots and import market risks appeared. According to the statistics of the Automobile Industry Association, a total of 69,600 vehicles were exported in October, an increase of 39.12% year-on-year. In September, customs imported a total of 91,800 vehicles, an increase of 38.45% year-on-year. From the data point of view, imports and exports have maintained a high increase. Speed, but the import vehicle terminal market has shown a clear downward trend in growth; 11 and December market gradually recovered, but the year-on-year growth rate is not optimistic. On the basis of digesting the energy-saving subsidies policy, the market will gradually pick up in November and December, but the exceptional high base in 2010 will determine that the market still needs to finally digest the exit effect of stimulus policies in 2010; Ratings, commercial vehicles continue to be neutral in the fourth quarter. The growth of passenger vehicles is guaranteed, maintaining the rating of holdings, and commercial vehicles continue to be neutral.