As the year 2025 begins, major automobile manufacturers are quickly announcing good news. Among them, companies like BYD and Changan have made remarkable progress, with multiple brands achieving historic annual sales highs, particularly driven by the sales of Electric Vehicles. According to Cui Dongshu, the Secretary General of the Passenger Vehicle Market Information Joint Conference of the China Automobile Circulation Association, with unprecedented support from the "trade-in for new" and "scrapping and updating" subsidy policies, the total automobile retail sales in 2024 are expected to reach 22.94 million units, a year-on-year increase of 5.7%. It is projected that by 2025, the domestic automobile retail sales in China will reach 23.4 million units, a year-on-year increase of 2%. Among these, the retail sales of New energy Passenger Vehicles are expected to reach 13.3 million units, a year-on-year increase of 21%, with the market penetration rate expected to rise to 57%, an increase of 9 percentage points compared to 2024. (Shanghai Securities Journal)