Cui Dongshu: In April, the automotive market is focused on "fuel cooling, new energy heating." The retail penetration rate of new energy vehicles has exceeded 60% for the first time in history.

According to the Wisdom Finance and Economics APP, Cui Dongshu, the Secretary-General of the China Association of Automobile Manufacturers, stated in a post that the wholesale growth rate of passenger cars in China is expected to be 9% by 2025, and the wholesale growth rate of new energy passenger cars is expected to be 25%, successfully achieving the growth expectations for the "14th Five-Year Plan" period. With the expiration of the new energy vehicle purchase tax exemption policy at the end of the year, the new energy vehicle market in 2026 will experience a downturn. However, the implementation of the trade-in old for new policy in most provinces and cities is slow, leading to a sluggish demand from middle and lower-end consumers, and a significant market differentiation trend.