China Automobile Dealers Association: The automobile consumption index for October was 83.6, and sales in the automobile market are expected to increase slightly month-on-month in November

The Zhitong Finance App learned that on November 2, the China Automobile Dealers Association released the latest “Automobile Consumption Index”. The automobile consumption index for October 2026 was 83.6, a slight increase from the previous month. Automobile market sales are expected to increase slightly in November compared to October. As November approaches the end of the year, dealers will speed up the pace of sales and rely on marketing nodes such as “Double 11” to increase promotion efforts; the 2026 “Two New” policy subsidies will end at the end of December, and consumers in need of scrapping or replacement will speed up car purchases. However, there was only the Guangzhou Auto Show in November, and the region lacked centralized drainage for large-scale exhibitions. Overall market demand was still weak. The mentality of some consumers competing for year-end prices increased, and wait-and-see sentiment increased. Judging comprehensively, the overall terminal market in November showed an operating trend of “lackluster demand, weakening passenger flow, and accelerated conversion of stock orders”.

Automobile consumption index trend chart

Demand score index: Judging from the sub-indices that make up the automobile consumption index, the demand score index for October 2026 was 81.2, which is basically the same as the previous month. After a batch of demand was released during the National Day holiday, it took a period of time for new car purchases to accumulate in the short term. Currently, some consumers maintain a wait-and-see mentality and choose to wait for prices to drop further at the end of the year and suspend the release of car purchase plans. In November, some demand growth will be driven by factors such as dealers' “Double 11" promotions and the upcoming end of the “Two New” subsidies in 2026, but it is difficult to expand significantly, and overall market demand is expected to remain stable.

Automobile Consumption Index - Demand Score Index

Store entry score index: In October 2026, the store entry score index was 82.4, down from the previous month. The weather gradually became colder in November, and there was no centralized offline customer attraction scenarios such as long vacations and major auto shows. Consumers are less motivated to go out and see cars, and the number of visitors to the store will decrease compared to October.

Automobile Consumption Index - Store Entry Index Trend Chart

Purchase points index: The purchase points index for October 2026 was 87.3, up from the previous month. 2026 “Two New” subsidies will end at the end of December, and some consumers will speed up the car purchase process; dealers will use the “Double 11” period to launch various promotions, while speeding up the pace of sales and order conversion in order to sprint up the annual mission goals. In November, it is expected that the efficiency of converting car purchase intentions will improve, supporting sales growth.

Automobile Consumption Index - Purchase Score Index Trend Chart

Judging from the consumer environment and consumers' desire to buy cars: November lacked support from large-scale local offline car shows and long vacations, and offline natural passenger flow declined somewhat compared to October; towards the end of the year, dealers accelerated the pace of sales and launched various promotional activities with the help of “Double 11" marketing nodes; some consumers waited for further price drops at the end of the year; the 2026 “two new” subsidies ended at the end of December, and the exchange group will accelerate the car purchase process.

In summary, in November, the market relied on the “Double 11" promotion from dealers and the expiration of the 2026 “Two New” subsidies to expedite exchange demand to release two major supports. Against the backdrop of weak overall market demand, consumers continued to compete at year-end prices, and offline customer traffic declined, the transformation of stock intention orders accelerated, and transaction-end resilience was highlighted. It is expected that the overall automobile market transactions in November will result more from the conversion of potential customers, and sales will rise slightly compared to October.