Cui Dongshu, Secretary General of the Passenger Car Association, stated in a release on March 23 that the Commercial Vehicle market in 2025 is characterized by a trend where February sales are stronger than those in January, driven by the pre-Spring Festival effect. Due to the incentives for updating at the end of the year, sales in the fourth quarter of 2024 are expected to be strong. The monthly data for January shows a significant decrease compared to the previous month, with Commercial Vehicle sales in February at 0.238 million units, which is around the historical median. In recent years, the domestic Commercial Vehicle market has shown a rapid decline in demand. From the extremely high sales in 2020, sales peaked and then decreased in 2021, reaching a low point in 2022-2023. In 2024, domestic insurance for Commercial Vehicles achieved 2.85 million units, remaining almost flat year-on-year. Due to the earlier Spring Festival, this is beneficial for production materials, and in February 2025, domestic Commercial Vehicle sales achieved 0.24 million units, growing 63% year-on-year, and increasing 45% compared to January 2025. The insurance data for domestic Commercial Vehicles from January to February is 0.4 million units, a year-on-year growth of 19%.