Cui Dongshu: Looking forward to long-lasting and powerful policy continuity in the future to drive car consumption and promote economic growth.

Secretary-General Cui Dongshu of the China Association of Automobile Manufacturers issued a statement saying that the current external environment is becoming more complex and severe, with unilateralism and protectionism intensifying, impacting the stability of the industry chain and supply chain. The foundation of the domestic economy's rebound is not yet solid, with challenges such as insufficient effective demand and disorderly market competition still existing, making the task of maintaining stable growth in the industry still difficult. With the implementation of the policy to replace old vehicles with new ones, the effects have been particularly significant, igniting the car market for 2025. Our domestic car market's annual retail volume growth expectation needs to be raised from 2% to 6%. Although the growth rate in the first half of the year was 11%, it is gradually entering a deceleration period in the second half of the year. We look forward to having long-term and strong follow-up policies in the future, such as reducing personal income tax for car buyers, promoting the use of new energy vehicles in rural areas, optimizing the application process for the C7 electric economy cars, exempting car purchase tax for compliant pure electric vehicles with a range of less than 200 kilometers, encouraging marriage and birth through car purchases, and implementing more improvement measures to stimulate car consumption and promote economic growth.