Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), stated in an article that the national auto market in March presented divergent trends, with stronger passenger car sales but weaker commercial car performance. Following the implementation of a new round of subsidy policies in late January, retail sales of narrowly defined passenger cars from February to March topped expectations.

Ahead of the announcement of the "Two New" policies, market enthusiasm was lukewarm, with January seeing consumers largely in a wait-and-see mode. From February to March, market momentum surged rapidly, with consumer passenger car products maintaining strong performance as seen before the Spring Festival, while the commercial vehicle market exhibited structural growth characteristics.

Moreover, high channel inventory for commercial vehicles last year led to mixed trends in March this year, with strong growth in new energy categories such as light trucks, microvans, and large and medium buses.
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AAStocks Financial News
Web Site: www.aastocks.com

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