· China's auto market growth rate has slowed significantly, car companies welcome a new round of shuffling

News from the 12th China (Changchun) International Automobile Expo said that the growth rate of the Chinese auto market has slowed significantly. Participants believe that the auto market has shifted from medium to high speed and is currently at a low tide.
Production and sales increased by 2.6% and 1.4% year-on-year
According to the statistics of China Association of Automobile Manufacturers, domestic automobile production and sales increased by 2.6% and 1.4% in the first half of the year, and the annual growth rate is expected to be 3%. The "price war" of the auto show was more intense than the previous one.
In the modern booth in Beijing, a variety of models such as Langdong and Mingtu have a price reduction of 20,000 yuan and 30,000 yuan. The new Shengda has a 15% discount and a luxury gift. Yan Chunfu, deputy director of the Organizing Committee of the Changchun Automobile Expo, said that the price of more than 70% of the models participating in the exhibition was lower than the past seven months.
"Now the auto market is not booming, dealers have more inventory pressure." Mr. Du, a sales consultant for a car company, said that he hopes to reduce inventory pressure through price reduction through the platform of the exhibition.
According to data released by the China Automobile Dealers Association, the inventory warning index for June this year was 64.6%, up 7.3 percentage points year-on-year, indicating that the automotive market demand contracted, dealer inventory and operating pressures increased.
The market tends to be saturated, and the growth rate is obviously slowing down. According to the analysis of some exhibitors and car owners who participated in this Changchun Automobile Expo, the current rapid decline in the automobile market is mainly related to two factors. First, the automobile production and sales base in China is growing. The slowdown in growth is a normal phenomenon; the second is that the overall growth rate of China's economy is slowing down, which has a certain impact on the auto market.
"In recent years, the production and sales have exceeded 20 million. The base is so large, and it is not realistic to maintain double-digit numbers every year." Wang Ling, a regional sales manager of an independent car company, participated in the exhibition.
At the same time, for the automotive industry with long chain links and high industrial relevance, it is bound to be affected by the slowdown in economic growth. For the truck industry, which is closely related to infrastructure construction, the production and sales in the first half of the year decreased by 17.71% and 16.83% respectively.
Some experts believe that the market still has some bright spots as manufacturers adjust their marketing strategies and rely on the continued popularity of SUV models. In the future, the consumption potential of China's third- and fourth-tier markets will gradually be released, which may become an important force supporting the sustainable development of the automobile market.
The car company ushered in a new round of shuffling in the No. 1 Hall of the Changchun Auto Expo, FAW brought a variety of products, including the red flag review car, the red flag H7 blue way version, also opened a special area to introduce the "挚途" new technology . However, consumers have found that there are many exhibits, but the original ones are available for purchase.
It is understood that due to the lack of rich models and other reasons, FAW is not only squeezed out of the first camp of independent car companies, ranking is still falling. Statistics from the first half of the year show that FAW has been surpassed by Changan, Great Wall, etc., ranking only eighth.
In order to cope with market changes, Shanghai Volkswagen and other joint venture brands have also launched the "official price reduction" model, and even the Great Wall Motor, which has consistently adhered to the strategy of not cutting prices, has also joined the ranks of price cuts.
At the same time, joint venture car companies have accelerated the layout of production bases and continuously introduced new products, such as the entry into the hot domestic market of new energy vehicles and SUV models.
Experts said that with the intensification of competition, car companies ushered in a new round of reshuffle, some car companies that do not have core technology are likely to be eliminated, and independent car companies can only gain a foothold in the market if they increase their R&D capabilities.

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