Multiple Departments Introduce New Policies to Boost Automotive Consumption Across the Entire Chain

[Policy Interpretation] Multiple government departments have jointly launched new policies aimed at expanding automobile consumption across the entire chain, shifting the market focus from 'stimulating purchases' to 'activating usage.'

Key Data: Significant Progress in New Energy Vehicle Penetration and Trade-in Programs

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  In May 2026, the penetration rate of new energy vehicles reached 62.9%, exceeding 60% for two consecutive months;

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  As of June 22, 2026, trade-in programs have driven RMB 5 trillion in sales, with automobiles accounting for 63% of this total, supporting over 21 million consumers in vehicle replacements;

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  From January to May 2026, the ratio of new car to used car transactions reached 1:1 for the first time.

Strategic Foundation: Focusing on Existing Vehicle Operations and Aftermarket Scenarios

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  Policy emphasis is shifting toward usage-related segments such as vehicle modification, motorsports, camping, maintenance, and leasing;

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  Aligning with the growing trend in vehicle ownership, the consumption model is transitioning from expansion based on new sales volume to operations centered on existing vehicles.