According to the China Association of Automobile Manufacturers (CAAM), China's total auto sales will reach 31 million units in 2024, an increase of 3%. Among them, the sales volume of passenger cars was about 26.8 million, an increase of 3.1%. Sales of new energy vehicles will reach 11.5 million, an increase of 20%. Export sales will rise to about 5.5 million vehicles. 2025 is the year of the end of the "14th Five-Year Plan" and the year of the layout of the "15th Five-Year Plan", China's economy will usher in more opportunities for good and upward development, and car market sales are expected to peak again. Many industry experts and scholars believe that in 2025, China's auto sales as a whole will remain stable and achieve small growth. According to Xu Haidong, deputy secretary-general of the China Automobile Association, China's car sales in 2024 are expected to reach 31.5 million units, 2025 is still relatively optimistic, may reach 33 million units, an increase of about 4%, of which about 16 million new energy vehicles. Liu Zongwei, assistant dean of the Institute of Automotive Industry and Technology Strategy, Tsinghua University (School of Vehicle), believes that the overall Chinese auto market is expected to achieve about 3% growth in 2025. In the domestic market, the overall penetration rate of new energy vehicles will exceed 50%, and the penetration rate of the passenger car market will reach 60%. Among them, intermixing products (including range extension) are still the main force of growth, and their share is basically equivalent to pure electric products. In overseas markets, trade exports will continue to grow and are expected to reach 6.5 million vehicles in 2025. However, under the influence of a high base and various constraints, export growth will decline to about 10%. The Central Economic Work Conference held not long ago placed "vigorously boost consumption, improve investment efficiency, and expand domestic demand in an all-round way" at the top of the nine key tasks, and clearly proposed "the implementation of special actions to boost consumption, and the expansion of the implementation of the 'two new' policy". It can be seen that the policy support for promoting automobile consumption in 2025 will continue to inject consumption vitality into the automobile market. Wu Songquan, senior chief expert of China Automotive Technology Research Center Co., LTD., chief engineer of China Automotive Strategy and Policy Research Center, said that according to estimates, in 2024, the old for new policy will directly drive domestic passenger car sales growth of more than 2 million, 2025, this policy will not only continue to drive the growth of passenger car sales, but also promote the upgrade of the automobile consumer market.
