Wang Du, Vice Chairman of China Automobile Circulation Association, stated at the 2024 Auto Finance Industry Summit that currently, China's automobile industry has entered a critical phase of structural adjustment: on one hand, pressure on car consumers continues to rise, price wars persist, and automobile sales gross margin continues to decrease; on the other hand, there has been a fundamental shift in market structure, with the market share of new energy vehicles exceeding 50% for four consecutive months. Wang Du mentioned that with the rapid development of new energy vehicles and the ongoing impact of price wars, traditional automakers and dealers are facing unprecedented challenges. Market risks are surfacing, competition is intensifying, and dealers have experienced large-scale losses across the entire industry.