China Passenger Car Association: In December, the domestic narrow-definition passenger car market retail sales reached 2.634 million vehicles, a year-on-year increase of 12.0%.

According to the latest retail sales data from the Association of Automobile Manufacturers, the retail sales of narrow passenger cars in the domestic market reached 2.634 million units in December, an increase of 12.0% year-on-year and 8.6% month-on-month. The cumulative sales from January to December were 22.892 million units, a year-on-year increase of 5.5%. Analysis for December: As the year-end approaches, various car companies are making efforts to achieve their annual targets, leading to a continuous warming up of the automobile market. The expectation of the expiration of the "two new" subsidy policy and the end-of-year tail-raising factor further stimulated strong growth in the car market. In addition, with the 2025 Chinese New Year holiday approaching at the end of January, some pre-holiday car buying demand was also released in December 2024, and these factors combined to promote a strong release of car buying demand in December.