Policy Effects Release Automotive Consumption Vitality

According to data released by the China Association of Automobile Manufacturers on July 10, 2025, the production and sales of automobiles in China exceeded 15 million units for the first time in the first half of 2025, both achieving double-digit growth year-on-year. The vitality of the automotive industry continues to be released. Among them, the production and sales of new energy vehicles reached 6.968 million and 6.937 million units, respectively, with year-on-year growth of 41.4% and 40.3%. This demonstrates that the old-for-new policy continues to show effects, significantly improving domestic demand and playing an important supporting role in the overall growth of the automotive sector. Looking ahead to the second half of the year, the 'two new' policies will continue to be implemented in an orderly manner, and the continuous enrichment of new product supply from enterprises will help drive sustained growth in automotive consumption. Further efforts are needed to standardize market competition order, strengthen industry self-discipline, and enhance policy guidance and supervision to support the healthy and stable operation of the industry.