On January 15, Cui Dongshu of the China Passenger Car Association remarked that China's macroeconomy is set to sustain robust growth in 2025. Bolstered by national policies aimed at boosting consumption, the automotive market is poised to demonstrate strong growth momentum, with an overall positive trajectory expected across the country's automotive sector. The truck and bus markets are projected to witness a significant rebound.

Owing to the unprecedented intensity of policies in 2024 and a subsequent reduction in policy support this year, retail sales of passenger cars registered negative growth in December 2024. Nevertheless, exports and inventory expansion have maintained manufacturers' sales growth at a favorable rate. In recent times, a distinct divergence has emerged between the passenger car and commercial vehicle markets. The downturn in the real - estate sector has dampened the commercial vehicle market, while passenger car consumption has shown signs of improvement.

In 2025, propelled by policy measures, the passenger car market is anticipated to grow by 9%. The commercial vehicle market will be shaped by the electrification trend, with new - energy commercial vehicles experiencing robust growth. The bus market, encompassing microbuses, is also expected to achieve strong growth.

The trade - in policy has had a substantial stimulating effect on the passenger car market, particularly during the initial phase of its implementation. Lately, with the suspension of most subsidies, the industry's comprehensive efforts to tackle “involution” have yielded positive results, leading to a more stable overall trend in the automotive market.