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The impact of the U.S. subprime mortgage crisis is increasingly evident in the Chinese automobile market. According to data from the China Association of Automobile Manufacturers, commercial vehicle sales dropped by 10.83% month-on-month in October this year, with a year-on-year decline of 9.30%. This downward trend in commercial vehicle sales is closely linked to the shrinking SME market. With tightened funding chains, small and medium enterprises are becoming more cost-conscious when purchasing commercial vehicles. Economic Efficiency Takes Center Stage "When my business was just starting out, I bought an inexpensive light passenger car to save money. But after a few years of use, I realized that fuel and maintenance costs were still high. It turned out that buying a fuel-efficient and durable vehicle was more economical in the long run. Recently, I plan to replace my old vehicle with a more practical one, so I’m checking out the auto show," said Mr. Zhang, a garment factory owner in Dongguan, at the recently opened Guangzhou International Auto Show. Many visitors to the auto show share Mr. Zhang’s concerns. Upon investigation, reporters found that due to tight cash flow, buyers are placing greater emphasis on economic efficiency when purchasing commercial vehicles. However, as transportation demands grow, the definition of "economy" is evolving. “Compared to the initial purchase cost, what we value most is the overall usage cost of the vehicle. Even if you spend more upfront on a low-cost vehicle, it can be worth it in the long run,” explained Mr. Li, who runs a logistics company in Guangzhou. Experts believe that the Pearl River Delta region, known for its high level of economic openness and strong purchasing power, has become a testing ground for commercial vehicles. “Providing products with low total cost of ownership is a growing trend in the commercial vehicle market. This reflects the technical capabilities of companies behind the scenes.” Technology Becomes the Key to Competition In fact, domestic commercial vehicle manufacturers have been continuously competing in the technological field. Companies like Qingling and Nanjing Iveco, especially those with joint ventures, have significant advantages in terms of technology. At the Guangzhou Auto Show, Nanjing Iveco showcased three models: Baodi Almighty, Bundy Business Travel, and Yuejin Eka. Fu Liguo, Deputy General Manager of Nanjing Iveco and General Manager of the Sales Company, told reporters that the economical core advantages of these models stem from leading European technology. For example, the F1C IV engine in the Baodi Almighty series delivers a maximum torque of 400Nm, offering top-tier performance in its class, while achieving a fuel consumption of only 7 liters per 100 kilometers. Additionally, the latest ZF transmissions significantly improve the handling of the entire Baodi series, providing balanced performance for both urban distribution and passenger transport, effectively realizing the concept of "one vehicle for multiple uses." “Thanks to the support from our Italian partners, Nanjing Iveco’s products are technologically synchronized with Europe. We also conducted extensive research on the Guangdong market over several months, so we are confident that our products will be well-received here,” Fu added. He noted that Guangdong has become a national trendsetter, and products with advanced technology and low overall usage costs will surely gain market recognition. Industry experts emphasize that technological upgrading is the foundation for the development of the commercial vehicle industry and a key way for China’s commercial vehicles to enhance their global competitiveness. Reports indicate that Iveco’s Oka technology has entered its global marketing network and will play a crucial role in its global strategy. Fu Liguo stated that using European-synchronized technology to enhance the economic advantages of China’s commercial vehicles will open up more opportunities for them in the global market.

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