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Automotive Sector To Remain Robust In 2025 Supported By EV Incentives
Financial Associated Press Autos Morning News [December 20th]
① The Passenger Vehicle retail market is expected to be around 2.7 million units in December, an increase of 14.8% year-on-year and a growth of 11.4% compared to the previous month; ② Reporters learned from several informed sources that Chongqing Sokon Industry Group Stock may go for a secondary listing in Hong Kong and will hire China Securities Co., Ltd. and China International Capital Corporation as its listing sponsorship team.
In November, China sold a total of 6,337 large and medium-sized new energy buses over 7 meters, an increase of more than 80% year-on-year.
Statistics show that in November 2024, there were a total of 6,337 large and medium-sized new energy buses over 7 meters sold in the country, an increase of 9.71% compared to the previous month (5,776 units) and an increase of 80.44% compared to the same month last year (3,512 units).
Countdown to "Double New" subsidies: local governments and car companies are both making efforts as the end of the year approaches, and the car market enters the sprint phase.
According to data from the Ministry of Commerce, as of December 13, 2024, the "Double New" subsidy policy has driven Passenger Vehicle sales to exceed 5.2 million units, including over 2.51 million units from scrapped vehicles and over 2.72 million units from replacement vehicles. Meanwhile, many local governments have intensified efforts to implement policies to promote Consumer spending on Autos.
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