China’s auto market in 2024, at least in terms of performance, is booming.
As the most direct argument, combined with the report card released not long ago by the Federation of passengers, the cumulative retail sales of new cars in China officially closed at 22.
894 million vehicles from January to December, an increase of 5.
5% compared with the same period last year.
Among them, the retail sales of new energy vehicles reached 10.
899 million, an increase of 40.
7% over the same period last year.
With the thorough reshaping and change of the rules of the game, the share of retail sales of independent brands has broken through the 60% mark, which seems to have really defeated the joint venture brands and become the “mainstream choice” of China’s auto market.
It is precisely against this background that the traditional giants led by BYD, Geely, Chery and Changan, including the new forces building cars led by ideal, Hongmeng Zhixing, Zero run and Weilai, have set new highs in 2024 in terms of terminal performance.
The most fundamental reason behind it must also be attributed to its own unremitting efforts in the promotion of new products to meet the needs of potential consumers as much as possible.
Of course, it is also closely related to the country’s “trade-in” escort.
In other words, this policy has undoubtedly become a “catalyst” for everyone to achieve bloom.
The flame of everyone gathering firewood is high and the total volume of the market is also getting better and better.
To this end, continue to talk with the data, combined with the statistics of the Ministry of Commerce, in 2024, more than 2.
92 million cars were scrapped and replaced, and more than 3.
7 million were replaced, totaling more than 6.
62 million, driving car sales of more than 920 billion yuan.
You know retail sales of new cars fell continuously in the first half of 2024 and even fell by 7.
3% in August.
However, since September began to “increase”, the month has achieved a full year-on-year, and then in October, November, December, the growth rate further expanded, slowly showing a positive trend.
In addition, driven by the “trade-in”, the level of recycling and reuse of waste motor vehicles has been significantly improved.
In 2024, the corresponding recovery volume reached 7.
872 million vehicles, an increase of 70.
7% over the same period last year.
To sum up bright numbers do not lie and the effects of stimulation and prying are there.
As for the beginning of the article, it takes a lot of space to elaborate on the above content, or to prove a truth to everyone: “you can say that the development of China’s auto market depends on crutches, but rationally and objectively speaking, it does have the meaning of existence.
” No, less than half a month into 2025, crutches have been thickened again.
It was only after thousands of calls that she came out shyly, “trading the old for the new” almost seamlessly.
The comparison with the previous version in 2024 shows greater sincerity and appeal.
First of all, in the part of commercial vehicles, the scope of support for the scrapping and renewal of old operating goods vehicles has been expanded, extending the scope of support for operating diesel trucks from national 3 and below emission standards to national 4 and below.
the subsidy standards for new energy buses and power batteries have been raised, and the average subsidy per vehicle has been increased from 60,000 yuan to 80,000 yuan.
And the passenger car part, which is closely related to us, expands the scope of support for car scrapping and renewal.
In other words, traditional fuel vehicles have expanded from country 3 and below to some countries 4 and below (not all countries 4 vehicles).
According to the time of first registration, gasoline passenger vehicles will be expanded from June 30, 2011 to June 30, 2012.
diesel and other fuel passenger vehicles will be expanded from June 30, 2013 to June 30, 2014.
new energy passenger vehicles will be expanded from April 30, 2018 to December 31, 2018.
In terms of amount, it will still maintain 20, 000 yuan for new energy passenger cars included in the catalogue of new energy vehicles with reduced vehicle purchase tax, and 15000 yuan for fuel passenger cars with engines of 2 liters or less.
The subsidy standard for automobile replacement and renewal has been improved.
for individual consumers, the subsidy for the transfer of passenger cars registered in their own name shall not exceed 15000 yuan for the purchase of new energy passenger vehicles and no more than 13000 yuan for the purchase of fuel passenger cars.
In addition, in order to make a good distinction from scrapping and renewal subsidies, unified guidance on the upper limit of replacement subsidy standards at the central level in 2025 will effectively curb the phenomenon of “internal volume” of local replacement subsidy policies in 2024 and adhere to a unified national market.
Taken together, welfare has been extended, with a slight increase.
With the almost seamless convergence of the “trade-in” policy, many users who had planned to wait and see for the time being quickly plunged into the car-buying boom on the eve of the Spring Festival.
Coupled with the major mainframe factories, in order to meet higher sales targets, recently crazy to carry out a variety of promotions.
The Chinese auto market in 2025 gives people an attitude of “coming up and fighting a decisive battle”.
Homeopathy leads to another topic that today’s article is trying to discuss: “if you say that the trade-in will continue, who will be the biggest beneficiary?” As for the answer we may have to look at it in several aspects.
For one thing, no matter whether you choose scrapping or replacement, the subsidy standard of new energy passenger cars is higher than that of fuel passenger cars.
It is inevitable that the former will be more popular.
The corresponding retail penetration, after steadily crossing the 50% mark in 2024, does not rule out the possibility of rushing to 55% or even 60%.
Second, for consumers, I believe that no one will have a problem with real money.
Therefore, 2025 is sure to be a good time to start.
Third, from the point of view of the major mainframe factories, even if they are not willing to admit it, the wave of electrification is becoming more and more intense, and the resources of the entire Chinese car market are undoubtedly still concentrated towards the head echelon members.
Under the background that the winners earn a lot of money and the weak can only rely on the side to eat soup, the continuation of “trade-in” in 2025, the traditional independent giants led by BYD, Geely, Chery and Chang’an are sure to get the most “cake” again.
After all, take BYD as an example.
BYD’s public sales target of 3.
6 million vehicles in 2024 was eventually won with more than 4.
27 million vehicles, thanks to the policy-level “power-up”.
And as the “Devil King” enters a new cycle, he will still eat a lot of development dividends.
A similar truth applies to other strong car companies.
“exchanging the old for the new” is very much like lighting the flames of dry wood, creating a hotter and hotter combustion.
In sharp contrast imagine that if the policy were to decline completely one day it would be a devastating disaster for those vulnerable car companies.
The logic behind, your taste, your meticulous taste.
No blow, no black, “trade the old for the new” is a “tonic” for them to continue their lives.
If you lose this crutch, you will fall into an abyss.
, as for who you are talking about, you are welcome to take your seat.
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