---
title: "I witnessed gasoline cars being outperformed at the Chengdu Auto Show"
description: "On the first day of the media day at the Chengdu Auto Show, the media generally lamented the decrease in exhibition heat, although the number of participating companies and exhibited vehicles is simil"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/213168208.md"
published_at: "2024-09-02T02:40:57.000Z"
---

# I witnessed gasoline cars being outperformed at the Chengdu Auto Show

> On the first day of the media day at the Chengdu Auto Show, the media generally lamented the decrease in exhibition heat, although the number of participating companies and exhibited vehicles is similar to last year. Exhibitors are more concerned about direct sales rather than showcasing new technologies. The penetration rate of new energy vehicles in the market has exceeded 50% for the first time, with companies like BYD attracting attention. In addition, the debut of the BMW M5 has attracted widespread attention, marking the continuation of the glory of fuel vehicles in the new energy era

Pinjia, Author: Dong Nan, Image Source: AI Generation

On August 30th, the first day of the Chengdu Auto Show media day, almost all media outlets were lamenting: the popularity of the Chengdu Auto Show is declining year by year.

"Thinking back to the first time I attended the Chengdu Auto Show, there were queues to enter. Now, on the first day of the media day, it was empty all the way from the entrance to the exhibition hall."

It's unclear whether the drop in media day attendance is due to fewer exhibitors or fewer media attendees.

Image Source: Pinjia Photography

Whether in terms of the number of participating brands or car models, this year's Chengdu Auto Show did not reach a new high. Official data shows that nearly 130 companies were concentrated in the exhibition, displaying over 1600 vehicles, similar to last year.

During the traditional peak car-buying season in China, exhibitors at the Chengdu Auto Show seemed more focused on selling cars!

Selling cars means the focus is on the cars themselves, so there wasn't much emphasis on new technologies and industry trends. It's not hard to understand why many media outlets did not receive invitations to attend the auto show this year.

BMW is an exception.

Among the BBA trio, Mercedes-Benz and Audi sent regional dealers to participate directly, while BMW not only had the President and CEO of BMW Group Greater China, Gao Xiang, take the stage, but also extended sincere invitations, maintaining a bit of dignity for the media attending the auto show.

Just a month before the Chengdu Auto Show, the Chinese auto market reached a historic turning point - the penetration rate of new energy vehicles exceeded 50% for the first time.

This means that in terms of market supply and demand, new energy vehicles have taken the initiative for the first time.

Therefore, the enthusiasm for new energy vehicles at the exhibition stands remained high.

BYD secured the entire Hall 9 - the first time this hall was used, and even built an outdoor pool to demonstrate the U8 emergency water-floating performance, making it the most powerful new energy vehicle company at this year's Chengdu Auto Show.

Among the new cars unveiled before and during the Chengdu Auto Show, the XPeng MONA M03, ZEEKR 7X, Aito 07, BYD's first MPV in the Dynasty family, Xia, all garnered significant attention.

The highly anticipated BMW M5 was the center of attention, representing the glory of the era of fuel-powered cars with its plug-in hybrid system, which has now continued into the era of new energy vehicles.

New cars were unveiled in the morning, and car sales were live-streamed in the afternoon. The rhythm of new energy vehicles was fast-paced On the day of the media, the booth started live streaming to sell cars. Source: PDrive Photography

In contrast, traditional fuel car brands that have been continuously declining in the past Beijing, Shanghai, and Guangzhou auto shows, not only did not have many new cars at this year's Chengdu auto show, but even seemed indifferent to selling cars.

Among the fuel cars, the all-new BMW X3L and the new Cadillac XT5 are relatively heavyweight updated models at this year's Chengdu auto show. They are also fuel models highly dependent on the Chinese market, and of course, the prices are sensitive to Chinese consumers.

A few days ago, He Xiaopeng, the chairman of XPeng Motors, mentioned in an interview that very expensive fuel cars actually do not have high costs, have cost advantages, and have the ability to lower prices. As for whether they will compete, how they will compete, it is still difficult to judge at the moment.

The luxury fuel car market is also a battleground for the fierce attack of new energy vehicles. Previously, BMW announced its withdrawal from the price war. Whether luxury fuel cars will release price potential remains to be seen, and we have not felt it this time.

In addition, the popularity of most joint venture brands' booths was low.

Guangzhou Honda's booth had almost no presence, and when it comes to selling cars, joint venture brands also seem indifferent. When various brands of new energy vehicles offered unprecedented discounts, fuel cars also gave up lowering prices to sell cars.

Source: PDrive Photography

Of course, there are also some fuel cars and brands worth paying attention to that have not given up their control over the fuel car market.

Volkswagen brought the Touareg Nova with a price as low as 79,900-106,900 yuan, making many people exclaim that Volkswagen is already so cheap.

However, compared to the newly launched XPeng MONA M03 with over 30,000 orders in the first 48 hours, fuel cars lowering the price threshold have already found it difficult to bring such market shock.

On the eve of the Chengdu auto show, a topic surged to the hot search:

> In 2024, who will still buy fuel cars?

The soul-stirring question raised by Li Bin at the beginning has once again soared at the Chengdu auto show.

Author: Dong Nan

### Related Stocks

- [BMW.DE - Bayerische Motoren Werke AG](https://longbridge.com/en/quote/BMW.DE.md)
- [BMWYY.US - BAYERISCHE MOTOREN WERKE AG ADR EACH REPR 0.33333 SHS SPONSORED](https://longbridge.com/en/quote/BMWYY.US.md)
- [81211.HK - BYD COMPANY-R](https://longbridge.com/en/quote/81211.HK.md)
- [BYDDF.US - BYD Company Limited](https://longbridge.com/en/quote/BYDDF.US.md)
- [002594.CN - BYD](https://longbridge.com/en/quote/002594.CN.md)
- [BYDDY.US - BYD Company](https://longbridge.com/en/quote/BYDDY.US.md)
- [01211.HK - BYD COMPANY](https://longbridge.com/en/quote/01211.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 股神巴菲特再現「神準」操作 亞馬遜急跌前大減倉 再沽蘋果美銀 買入一隻媒體股 | 股神巴菲特在卸任巴郡 CEO 後，繼續調整投資組合。根據 SEC 13F 文件，巴郡大幅減持亞馬遜 770 萬股，持倉減少 77%；同時出售約 5,080 萬股美國銀行和 1,030 萬股蘋果，連續第三季減持蘋果。巴郡首次增持傳統媒體股，購 | [Link](https://longbridge.com/en/news/276191227.md) |
| 富衞香港：25 年上半年新業務年度化保費按年升 90% | 富衞香港公佈 2025 年上半年新業務年度化保費按年升 90%，優於行業平均升幅 39%。新業務首年保費增長 128%，排名全港第二。各分銷渠道均實現雙位數增長，專屬代理人渠道升 69%，銀行保險渠道升 53%，經紀渠道升 291%，網上及 | [Link](https://longbridge.com/en/news/276418423.md) |
| 石四藥 (2005) 發盈警料去年盈利倒退 45 至 60% | 石四藥集團發盈警，預期截至去年底止年度股東應佔溢利按年下跌 45 至 60%；2024 年度錄得股東應佔溢利 10.61 億港元。 | [Link](https://longbridge.com/en/news/276431030.md) |
| 中國白銀集團 (0815) 折讓 18% 配股籌 4.6 億 | 中國白銀集團宣佈將向 6 名認購人發行 9.1 億股認購股份，折讓約 17.74%，每股認購價為 0.51 元，籌集資金總額為 4.641 億元。所得款項將用於日喀則礦的資本開支、進一步融資及一般營運資金。 | [Link](https://longbridge.com/en/news/276432450.md) |
| 寶馬在 Neue Klasse 車型中依賴大量英飛凌的組件 | 寶馬的新款 iX3 將於 3 月 7 日上市，這是 Neue Klasse 系列中的第一款車型，採用了眾多來自英飛凌的組件。英飛凌為該車的架構提供關鍵技術，增強了計算能力、數據連接性和能源管理。此次合作旨在推動軟件定義的車輛，英飛凌的微控制 | [Link](https://longbridge.com/en/news/276221355.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
