The China Passenger Vehicle Market Information Joint Meeting analyzed the national Passenger Vehicle market outlook for January 2025, stating that based on the continuation of 2024 policies, it is determined that domestic vehicle retail will reach 23.4 million units in 2025, with a year-on-year growth of 2%. New energy Passenger Vehicle retail is expected to be 13.3 million units, with a year-on-year growth of 20%, and a penetration rate of 57%. Attention is drawn to the fulfillment of promotional policies during the sales sprint phase at the end of 2024, as it has been noted that provincial and municipal subsidy reviews may occur before corporate subsidies. It is important to conduct user reassurance and follow-up processes to enhance consumer satisfaction and recommendation levels regarding corporate sales operations.

The China Passenger Vehicle Association stated that the national vehicle market trend in 2024 is expected to show a U-shaped growth pattern. The strong push of the old-for-new and scrapping update subsidy policies in the second half of the year will drive the total vehicle retail to 22.894 million units in 2024, a growth of 5.5%. The policies encouraging old-for-new exchanges have become increasingly significant in boosting sales in various regions. The old-for-new subsidies in 2025 will basically maintain the subsidy strength of 2024, and it is roughly estimated that the total demand for scrapping updates and old-for-new exchanges will exceed 200 billion yuan, significantly surpassing historical subsidy levels. Therefore, it is crucial to standardize the subsidy caps for old-for-new exchanges across regions.