Core Viewpoint - In June 2025, Shanghai's total vehicle registration reached 40,907, marking a year-on-year increase of 15.17% and a month-on-month increase of 7.42% [3][4]. Vehicle Registration Summary - **Total Vehicle Registration**: 40,907 in June 2025, with a year-on-year growth of 15.17% and a month-on-month growth of 7.42% [3][4]. - **Breakdown by Vehicle Type**: - **Imported Passenger Cars**: 2,401 units, down 0.41% month-on-month and down 6.83% year-on-year [4][9]. - **Domestic Passenger Cars**: 4,108 units, up 7.20% month-on-month and up 2.85% year-on-year [4][10]. - **Small Passenger Cars (excluding sedans)**: 6,844 units, down 1.81% month-on-month and down 2.88% year-on-year [4][11]. - **New Energy Passenger Cars**: 25,300 units, up 10.39% month-on-month and up 22.28% year-on-year [4][12]. - **Large Buses**: 468 units, up 146.32% month-on-month and up 257.25% year-on-year [4]. - **Small Trucks**: 865 units, up 6.53% month-on-month and up 46.86% year-on-year [4]. - **Large Trucks**: 921 units, down 2.64% month-on-month and up 87.96% year-on-year [4]. Year-to-Date Registration Performance - **Total Year-to-Date Registration**: 211,989 units from January to June 2025, reflecting a year-on-year decrease of 4.57% [4]. - **Year-to-Date Breakdown**: - **Imported Passenger Cars**: 15,887 units, down 21.09% year-on-year [4][9]. - **Domestic Passenger Cars**: 23,345 units, down 23.40% year-on-year [4][10]. - **Small Passenger Cars (excluding sedans)**: 40,973 units, down 20.37% year-on-year [4][11]. - **New Energy Passenger Cars**: 119,081 units, up 7.86% year-on-year [4][12]. - **Large Buses**: 1,449 units, up 45.05% year-on-year [4]. - **Small Trucks**: 5,127 units, up 29.37% year-on-year [4]. - **Large Trucks**: 6,127 units, up 29.84% year-on-year [4].

Investment Rating - The report does not explicitly state an investment rating for the automotive industry in Shanghai for April 2025 Core Insights - The total vehicle registration in Shanghai for April 2025 was 36,932 units, reflecting a month-on-month decrease of 7.97% and a year-on-year decrease of 6.38% [4] - The registration of new energy vehicles showed a slight year-on-year decline of 1.48% in April 2025, with a total of 19,899 units registered [4] - The overall trend indicates a significant decline in the registration of domestic and imported passenger cars, with domestic sedans experiencing a year-on-year drop of 21.92% [4] Summary by Relevant Sections Vehicle Registration Data - Imported passenger cars (including sedans) registered 2,819 units in April 2025, down 11.77% year-on-year [4] - Domestic sedans saw 4,008 units registered, marking a 21.92% decrease year-on-year [4] - Small passenger cars (excluding sedans) totaled 7,444 units, down 15.21% year-on-year [4] - New energy passenger cars had a total of 19,899 units registered, with a year-on-year growth of 3.21% for the first four months of 2025 [4] Monthly Registration Trends - The cumulative monthly registration data indicates a downward trend in overall vehicle registrations in Shanghai over recent years [5][7] Source Country of Imported Vehicles - In April 2025, Germany was the leading source of imported cars (excluding new energy), with 1,556 units registered, reflecting a year-on-year decline of 13.12% [9] - Japan followed with 804 units, showing a year-on-year increase of 6.49% [9] - The UK and Sweden experienced significant declines, with registrations down 36.01% and 2.70% year-on-year, respectively [9]