The Passenger Vehicle Association released an analysis of the national Passenger Vehicle market for December 2024. The car market started strong in December, and as year-end approached, various enterprises pushed to achieve their annual targets, leading to a continuous warming of the car market. The "Two New" subsidies (trade-in for new, scrapping and updating) expiring at the end of December provided a strong boost to the car market. Since the Spring Festival in 2025 falls at the end of January, part of the demand for car purchases before the festival will be released ahead of time in December 2024, although in a few areas, the trade-in subsidy amounts have been exhausted, temporarily halting and causing a slowdown in retail performance in the second half of the month. The combination of these factors has jointly promoted strong car purchase demand this December.