NEV Consumption Seeks New Direction as 'Golden Sept-Oct' Peak Fades, Shanghai Securities Says

Shanghai Securities News reported on November 2 that China's NEV market is entering a new cycle as the traditional "Golden September, Silver October" peak loses steam. September NEV passenger-car retail penetration climbed to a record 67%, and the China Passenger Car Association said October stayed at a high level, yet dealers in a recent survey saw the peak-season effect weaker than in past years, with 33.7% saying it had basically disappeared. Demand is spreading more evenly across the year as first-sale launches replace seasonal spikes, while consumers no longer rush to buy in a single window because brands refresh models so frequently. On the supply side, intensifying homogenization and narrowing margins are pushing makers from price wars toward value competition, and personalization is emerging as a breakout: modification and customization once limited to luxury brands are going mainstream, with scenario-based tweaks turning tech specs into tangible user experiences.

Source: Shanghai Securities News, Nov 2, 2026 | 2026-11-02