Core Viewpoint - The latest survey by the China Passenger Car Association indicates that the overall discount rate in the automotive market is approximately 24.8% as of mid-May [1] Group 1: Market Performance - Retail sales target for leading manufacturers, which account for over 80% of the total market, has increased by 8% year-on-year compared to May of last year, and by about 5% compared to last month [1] - The estimated total retail market for narrow passenger vehicles in May is around 1.85 million units, representing a year-on-year growth of 8.5% and a month-on-month growth of 5.4% [1] Group 2: New Energy Vehicles - Retail sales of new energy vehicles are expected to reach 980,000 units, maintaining a penetration rate of approximately 52.9% [1]