Red Star Capital Bureau reported on October 5 that "Golden September and Silver 10" is a traditional peak season for automobile sales, and car companies usually carry out a wave of promotion during the National Day holiday.According to the incomplete statistics of Red Star Capital Bureau,Seven automobile brands have recently officially announced the National Day promotion policy, and most of the discounted prices are 2000-3000 yuan cheaper than the daily price.
However, compared with previous years,This year’s promotion efforts have fallen sharply.. On October 5th, a dealer told Red Star Capital Bureau:"The car price has dropped to a low point, and the National Day is at most about 1,000 yuan more favorable than usual."
Liu Hao, an auto industry analyst, told the Red Star Capital Bureau that the price war has been fierce in recent years, and the car price has been at a low level, so there is not much room for price reduction. For dealers, there are price reduction promotions throughout the year. A large number of new cars were listed before the National Day, and prices were already reduced in disguise. The dealer said that the sales volume will be rushed at the end of the year, and the national day extra concessions are not strong.
SAIC Volkswagen National Day Promotion Wu Danruo Photo
Seven brand officials announced the National Day promotion
The price reduction efforts are mostly below 5,000 yuan.
The National Day holiday is the key node of "Golden September and Silver 10" promotion. According to the usual practice, automobile brands will promote sales on National Day.
According to the incomplete statistics of Red Star Capital Bureau, as of October 5, seven automobile brand officials announced the exclusive promotion policies for the National Day, namely:Li Auto（ 02015.HK/LI.US）, Xpeng Motors（ 09868.HK/XPEV.US）, Guangqi Honda, Guangqi Toyota, FAW Toyota, FAW Audi and SAIC Volkswagen., withTraditional automobile brands are dominant,The promotion time mostly ends on October 8 or October 12.
The promotion policies mainly include cash subsidy, replacement subsidy, down payment deduction, financial policy, limited time specials and points. There are tens of thousands of comprehensive discounts for brands, but consumers actually only get an extra discount of 2000-3000 yuan than usual.
Faw Audi National Day Promotion ActivitiesWu Danruo photo
The sales staff of FAW Audi told the Red Star Capital Bureau: "Now we mainly give discounts to manufacturers, directly discount the car price, and then the dealers give discounts on this basis. National Day is two or three thousand more favorable than usual. " For example, the original price of the Audi A5L is 239,800 yuan, and the comprehensive discount for National Day is as high as 12,400 yuan, but "before the National Day, the store achieved more than 190,000, and now it is 190,000". In addition, the models that Audi cooperates with Huawei are all priced and sold, so there is no discount during the National Day.
Guangzhou Automobile Toyota National Day offers a maximum discount of 51,000 yuan. However, at ordinary times, Guangzhou Automobile Toyota 4S store has a discount of 30,000 yuan, and there is still room for further negotiation when it arrives at the store. Therefore, if it is not replaced, the exclusive National Day discount is actually only 3,000 yuan.
The sales model of Lantu Automobile is an eco-store, and the price is uniform for both direct sales and dealers. This year’s National Day, Lantu Automobile did not officially announce the promotion, and went to the store to ask about the preferential activities of 2,000 yuan to 5,000 yuan.
The preferential treatment in LI is relatively strong, and the new version of Smart Huan L-series time-limited replacement subsidy enjoys 15,000 yuan, with a time-limited annual financial rate of 1.99%.
The price has been reduced in advance before the festival.
It is expected that the promotion will be even stronger at the end of the year.
Car prices are already at a low level, which is one of the main reasons for the small price reduction on National Day.. besidesA large number of new cars were put on the market before the National Day, and then the price was reduced in disguise.
The sales staff of FAW Audi told the Red Star Capital Bureau that after years of price war, the current car price has dropped to freezing point, and the brand is unlikely to offer an additional discount of 10,000 yuan on this basis. "The current price is already very cheap, and it can’t be lowered."
The dealer of SAIC Volkswagen told the Red Star Capital Bureau that the transparency of buying a car is very great now, and the brand discount runs through the whole year. "There is a policy every month, and activities are held at both ends every three days. From the beginning of the year to the present, the price of Volkswagen’s car has not changed much. "
According to the data of Chenglian Branch, in recent years, the profit rate of the automobile industry as a whole showed a continuous downward trend. From January to August this year, the profit rate of automobile industry was 4.5%, and that of downstream industrial enterprises was 6%.
In the first half of 2025, among the 16 listed passenger car companies that disclosed their sales volume, 5 were in the state of "selling one car and losing one".; Only Cyrus (601127.SH) and Great Wall Motor (601633. SH) have made a bicycle profit of over 10,000 yuan; Bicycle profits of LI, Geely Automobile (00175.HK), BYD (002594.SZ) and Brilliance China (01114.HK) exceeded 5,000 yuan.
Dealers are also reluctant to pay for the National Day promotion. "Now they all sell cars at a loss, relying on the rebate of manufacturers."A dealer of SAIC Volkswagen said, "We are relatively large dealers and don’t have much money to promote the National Day."
According to the sales staff of FAW Audi, dealers are more willing to provide promotional funds for the year-end sales volume.It is expected that the promotion at the end of the year will be stronger than during the National Day.
Published by china automobile dealers associationAccording to the Survey Report on the Living Conditions of National Automobile Dealers in the First Half of 2025, only 30.3% of dealers achieved their sales targets in the first half of the year. 52.6% dealers lost money, and only 29.9% dealers made profits; The gross profit contribution of new cars to dealers is -22.3%, and the loss of new cars is further aggravated; 74.4% car dealers have different degrees of price inversion, and 43.6% car dealers have a price inversion range of more than 15%.
On September 30th, china automobile dealers association issued a document saying that dealers are facing multiple pressures such as weak passenger flow growth, persistent price inversion and declining profitability. Insufficient passenger flow is the most common challenge, and the natural number of incoming stores declines, and the online clue conversion rate is low. The price inversion has not improved significantly, partly because the old models are unsalable, which aggravates the tension of the capital chain. Adding rigid operating costs, the profitability of dealers still faces challenges.
Red Star journalist Wu Danruo
(Source: Red Star News)
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