Core Viewpoint - The commercial vehicle market in China is experiencing a mixed performance in April 2025, with a decline in production and sales for buses and trucks compared to the previous month, while showing slight growth compared to the same period last year [1][3]. Group 1: Commercial Vehicle Performance - In April 2025, commercial vehicle production and sales reached 362,000 and 367,000 units respectively, representing a month-on-month decline of 16% and 17.9%, but a year-on-year increase of 1.3% and 2.7% [1]. - From January to April 2025, commercial vehicle production and sales totaled 1.41 million units and 1.418 million units, reflecting a year-on-year growth of 4.1% and 2% [1]. Group 2: Bus Performance - In April 2025, bus production and sales both stood at 45,000 units, with month-on-month declines of 9.9% and 16.1%, and year-on-year decreases of 0.2% and 0.6% [3]. - For the first four months of 2025, bus production and sales reached 169,000 units, showing a year-on-year increase of 5.9% and 6.9% [3]. Group 3: Truck Performance - In April 2025, truck production and sales were 317,000 and 323,000 units respectively, with month-on-month declines of 16.8% and 18.2%, while year-on-year growth was recorded at 1.5% and 3.2% [3]. - From January to April 2025, truck production and sales totaled 1.242 million and 1.249 million units, indicating a year-on-year increase of 3.9% and 1.4% [4].

Core Viewpoint - The Chinese automotive market is experiencing stable growth in production and sales, driven by policy support, technological upgrades, and strong domestic demand, particularly in the new energy vehicle sector [2]. Group 1: Economic Performance - The overall economic situation in China is improving, with increasing social confidence [2]. - The automotive market is benefiting from multiple factors, including policy initiatives and technological advancements, which are enhancing market vitality [2]. Group 2: Market Data - In April 2025, the automotive market showed stable growth compared to the same period last year, with significant contributions from domestic demand and stable exports despite external challenges [2]. - New energy vehicles are particularly active, continuing a trend of rapid growth in production and sales [2]. Group 3: Policy Support - A recent meeting of the Central Political Bureau emphasized the need to improve policies for stabilizing employment and the economy, which will support the automotive sector and help boost domestic demand [2].

Core Viewpoint - In April 2025, the national consumer price index (CPI) showed a year-on-year decrease of 0.1%, with urban prices stable and rural prices down by 0.3% [1] Group 1: Year-on-Year Price Changes - In April, food and tobacco prices increased by 0.3%, contributing approximately 0.07 percentage points to the CPI [2] - Fresh fruit prices rose by 5.2%, impacting the CPI by about 0.11 percentage points; aquatic product prices increased by 1.5%, contributing 0.03 percentage points; and meat prices rose by 0.6%, adding 0.02 percentage points, with pork prices specifically increasing by 5.0%, contributing 0.06 percentage points [2] - Fresh vegetable prices decreased by 5.0%, negatively impacting the CPI by about 0.10 percentage points, while grain prices fell by 1.4%, contributing a decrease of 0.02 percentage points [2] - Among other categories, prices for other goods and services, clothing, and education/culture/recreation rose by 6.6%, 1.3%, and 0.7% respectively, while transportation and communication prices decreased by 3.9% [2] Group 2: Month-on-Month Price Changes - In April, food and tobacco prices increased by 0.2%, contributing approximately 0.05 percentage points to the CPI [5] - Fresh fruit prices rose by 2.2%, impacting the CPI by about 0.05 percentage points; aquatic product prices increased by 1.2%, contributing 0.02 percentage points; while fresh vegetable prices fell by 1.8%, negatively affecting the CPI by 0.04 percentage points [5] - Other categories saw price increases in other goods and services, education/culture/recreation, and healthcare by 2.4%, 0.4%, and 0.2% respectively, while housing and living goods/services prices remained stable [5]

据中国汽车工业协会分析， 当前，各项宏观政策进一步持续发力显效，内需潜力加快释 放，上海车展前后企业新品密集上市，加之多地促销活动火热进行，乘用车市场表现活跃 。 2025 年 4 月，乘用车产销分别完成 225.7 万辆和 222.3 万辆，环比分别下降 12.4% 和 10% ，同比分别增长 10.2% 和 11% 。 2025 年 1-4 月，乘用车产销分别完成 876.5 万辆和 864.1 万辆，同比分别增长 14.5% 和 12.4% 。 2025 年 4 月， 乘用车国内销量 179.2 万辆，环比下降 12.9% ，同比增长 13.9% 。 2025 年 4 月， 在乘用车主要品种中，与上月相比，交叉型乘用车产量小幅增长、销量小 幅下降，其他三大类乘用车品种产销均呈不同程度下降；与上年同期相比，四大类乘用车品 种产销均呈不同程度增长，其中交叉型乘用车产销增速最为显著 。 2025 年 1-4 月， 在乘用车主要品种中，与上年同期相比，四大类乘用车品种产销均呈不 同程度增长，其中交叉型乘用车产销增速更为显著 。 2025 年 1-4 月， 乘用车出口 160.9 万辆，同比增长 4.6% 。 本 ...

Core Viewpoint - In April 2025, the national industrial producer price index showed a year-on-year decrease of 2.7% for both the ex-factory prices and the purchasing prices, indicating a continued downward trend in industrial pricing [1][3]. Group 1: Year-on-Year Changes in Industrial Producer Prices - In April, the ex-factory prices of industrial producers saw a decline in production materials by 3.1%, contributing approximately 2.28 percentage points to the overall decrease in ex-factory prices. The mining industry experienced a significant drop of 9.4%, while raw materials and processing industries saw declines of 3.6% and 2.3%, respectively [3]. - Prices for living materials decreased by 1.6%, impacting the overall ex-factory price level by about 0.40 percentage points. Notably, food prices fell by 1.4%, while durable consumer goods prices dropped by 3.7% [3]. Group 2: Month-on-Month Changes in Industrial Producer Prices - In April, the ex-factory prices of industrial producers decreased by 0.5% month-on-month, with production materials contributing to a decline of approximately 0.37 percentage points. The mining industry saw a 2.1% decrease, while raw materials and processing industries experienced declines of 1.0% and 0.2%, respectively [7]. - Living materials prices fell by 0.2%, affecting the overall ex-factory price level by about 0.05 percentage points. Food prices decreased by 0.1%, while clothing prices increased by 0.3% [7]. Group 3: Changes in Purchasing Prices - The purchasing prices for industrial producers showed a significant decline in fuel and power categories by 7.7%, black metal materials by 6.7%, and chemical raw materials by 4.1%. Agricultural products also saw a decrease of 2.9% [6]. - Conversely, prices for non-ferrous metal materials and wires increased by 8.5%, indicating a mixed trend in purchasing prices across different categories [6].

据中国汽车工业协会分析 ， 今年以来，我国经济呈现向好态势，社会信心持续提振。汽 车市场在政策驱动、技术升级等多重因素推动下，市场活力持续释放。 4 月，汽车市场总体 表现良好，产销较去年同期实现平稳增长。其中，内需潜力加快释放，起到较好支撑作用； 出口在外部环境急剧变化形势下保持稳定；新能源汽车表现活跃，产销延续快速增长态势 。 2025 年 4 月， 新能源汽车产销分别完成 125.1 万辆和 122.6 万辆，同比分别增长 43.8% 和 44.2% 。 2025 年 4 月， 汽车产销分别完成 261.9 万辆和 259 万辆，环比分别下降 12.9% 和 11.2% ，同比分别增长 8.9% 和 9.8% 。 2025 年 4 月， 汽车国内销量 207.3 万辆，环比下降 13.9% ，同比增长 11.7% 。 2025 年 1-4 月， 汽车国内销量 812.3 万辆，同比增长 12% 。 2025 年 1-4 月， 汽车产销分别完成 1017.5 万辆和 1006 万辆，同比分别增长 12.9% 和 10.8% 。 2025 年 4 月， 乘用车产销分别完成 225.7 万辆和 222.3 万 ...

Core Viewpoint - The Chinese automotive market is showing stable growth in production and sales, driven by domestic demand, stable exports, and a vibrant performance in the new energy vehicle (NEV) sector [2][7][54]. Group 1: Overall Automotive Market Performance - In April, automotive production and sales reached 2.619 million and 2.59 million units, respectively, with year-on-year growth of 8.9% and 9.8% [7]. - From January to April, production and sales totaled 10.175 million and 10.06 million units, marking a year-on-year increase of 12.9% and 10.8% [7]. - The first four months of 2023 saw production and sales exceed 10 million units for the first time in history [7]. Group 2: Domestic Sales and Growth - In April, domestic sales of automobiles were 2.073 million units, a year-on-year increase of 11.7% [14]. - For the first four months, domestic sales reached 8.123 million units, reflecting a year-on-year growth of 12% [14]. - The market share of Chinese brand passenger vehicles increased, with April sales reaching 1.571 million units, a 23.5% year-on-year growth [26]. Group 3: Export Performance - In April, automotive exports were 517,000 units, with a year-on-year increase of 2.6% [15]. - From January to April, exports totaled 1.937 million units, a year-on-year growth of 6% [15]. - NEV exports outperformed traditional fuel vehicle exports, with April NEV exports reaching 200,000 units, a year-on-year increase of 76% [19]. Group 4: New Energy Vehicles (NEVs) - In April, NEV production and sales were 1.251 million and 1.226 million units, respectively, with year-on-year growth of 43.8% and 44.2% [54]. - NEVs accounted for 47.3% of total new car sales in April [54]. - From January to April, NEV production and sales reached 4.429 million and 4.3 million units, with year-on-year growth of 48.3% and 46.2% [54]. Group 5: Key Enterprises Performance - The top fifteen automotive groups sold a total of 9.276 million units from January to April, a year-on-year increase of 8.9%, accounting for 92.2% of total automotive sales [68]. - BYD led the sales with 1.381 million units in the first four months, reflecting a year-on-year growth of 47% [68]. - The top fifteen NEV groups sold 4.093 million units, a year-on-year increase of 49.3%, representing 95.2% of total NEV sales [70].

来源： 中汽协会行业信息部 据中国汽车工业协会整理的海关总署 数据显示 ， 2025 年 3 月， 汽车零部件类产品出口金额达 94.5 亿美元，环比增长 42.5% ，同比增长 12.6% 。 2025 年 1-3 月， 汽车零部件类产品出口金额累计达到 261.8 亿美元，同比增长 4.5% 。 ...

Core Viewpoint - The article highlights the significant growth in China's automobile exports to Belt and Road countries in early 2025, indicating a strong performance in both overall exports and specifically in the electric vehicle segment [1]. Group 1: Export Performance - In the first three months of 2025, the total value of automobile exports from China to Belt and Road countries reached 32.13 billion USD, representing a year-on-year increase of 11.7% and accounting for 58.4% of the total automobile export value [1]. - The export of complete vehicles amounted to 1.026 million units, showing a year-on-year growth of 20.1% and constituting 66.7% of the total complete vehicle exports [1]. - The export of new energy vehicles reached 299,000 units, with a remarkable year-on-year increase of 51.2%, making up 51.6% of the total new energy vehicle exports [1].

2025 年 1- 3 月， 汽车零部件产品进口金额 51.3 亿美元，同比下降 23.8% 。 来源： 中汽协会行业信息部 据中国汽车工业协 会整理的 海关总署数据 显 示， 2025 年 3 月， 汽车零部件产品进口金额达 17.1 亿美元，环比持平，同比下降 27.9% 。 ...