Domestic News - The Ministry of Industry and Information Technology (MIIT) is proposing new regulations to enhance safety standards for electric vehicle door handles, addressing issues such as insufficient strength and potential safety risks in emergency situations [2] - The sales revenue from the consumption of old products in exchange for new ones is expected to exceed 1.3 trillion yuan in 2024, which will significantly boost consumer spending and support the automotive market [3] - Zeekr Energy and GAC Energy have launched a bidirectional interconnection cooperation for charging networks, aiming to create a comprehensive smart energy ecosystem [4] - SAIC-GM-Wuling plans to introduce solid-state batteries in vehicles by 2027, indicating progress in battery technology [5] - iFlytek and Chery Automobile have established a joint venture focused on developing intelligent audio systems for Chery's vehicle lineup [6] - CATL has unveiled a 9MWh ultra-large capacity energy storage system, TENER Stack, which boasts a 50% increase in energy density and a 45% improvement in space utilization compared to traditional systems [7] - Baidu Apollo and Shenzhou Car Rental have announced a partnership to launch the world's first autonomous vehicle rental service [8] - Leche Automobile Supermarket has opened in Chengdu, integrating various retail formats to transform the automotive sales model [9] Foreign News - The UK and the US have reached an agreement on tariff trade terms, with the UK making concessions on imports of US agricultural products in exchange for reduced tariffs on UK car exports [11] - In April, South Korea registered 21,495 new imported cars, a slight decrease of 0.3% year-on-year, while the cumulative registration for the year reached 82,152 vehicles, a 7.9% increase compared to the previous year [12] - Mitsubishi Motors plans to launch a new electric crossover vehicle in the US and Canada in 2026, marking its first new model in North America in seven years [13] - Mercedes-Benz will expand its production lineup in Alabama starting in 2027, focusing on a "core model" tailored to American consumer preferences [14] Commercial Vehicles - DeepWay has launched two new models of electric heavy-duty trucks, featuring advanced self-developed power systems and L2-level driver assistance [15] - Yunnan Province has announced a plan to update transportation equipment, aiming to retire over 2,600 old trucks and purchase more than 150 new energy cold chain delivery vehicles by 2025 [16] - Jiangxi and Hebei provinces have issued subsidy notifications for the scrapping of old trucks, with potential subsidies reaching up to 140,000 yuan for replacing heavy-duty vehicles [17] - New Asia Technology has established its China headquarters in Shanghai, focusing on the manufacturing of components for new energy commercial vehicles [18]

Core Insights - In March, the retail sales of narrow-sense passenger vehicles reached 1.937 million units, showing a year-on-year increase of 14.3% and a month-on-month increase of 39.9%, indicating a high level compared to recent years [1] - The retail sales of new energy vehicles (NEVs) for the entire month were 990,000 units, with a penetration rate climbing to approximately 51.2%, reflecting a significant post-holiday market characteristic [1] - In the first quarter, the total sales of narrow-sense passenger vehicles amounted to 5.117 million units, representing a year-on-year increase of 5.8%, while NEV sales reached 2.419 million units, up 36.4% year-on-year, with a penetration rate of 47.3% [1] - Preliminary estimates for April suggest that the total retail market scale for narrow-sense passenger vehicles will be around 1.75 million units, marking a year-on-year growth of 14.4% but a month-on-month decline of 9.8%, with NEV retail expected to reach 900,000 units and a penetration rate of 51.4% [1]