Core Viewpoint - The article highlights the strong growth of the passenger car market in China, driven by favorable government policies and regional disparities, with northern regions showing significant gains compared to southern regions [1][6][11]. Group 1: Passenger Car Market Trends - In 2025, the national retail sales of passenger cars are expected to grow by 9% year-on-year, with a strong performance observed from February to May, maintaining a growth rate of around 13% [4][5]. - In May 2025, retail sales reached 1.932 million units, a year-on-year increase of 13.3% and a month-on-month increase of 10.1%, with cumulative sales for the year at 8.811 million units, up 9.1% year-on-year [5][6]. Group 2: Regional Market Characteristics - The northern car market is showing a clear strength, with market share increasing by 2.8 percentage points year-on-year in May 2025, and by 2.1 percentage points compared to 2019 [7][8]. - The northeastern and northwestern regions are experiencing significant growth, while the southern regions, particularly the eastern and central areas, are lagging behind [6][8]. Group 3: Policy Impact on Market Structure - Government subsidies are favoring the development of low-end and economic vehicles, particularly benefiting A00 and A0 class electric vehicles in northern regions [1][9]. - The article emphasizes the importance of policy fairness in promoting the adoption of small and micro electric vehicles, which is crucial for their widespread acceptance [1][9]. Group 4: New Energy Vehicle Market Analysis - The new energy vehicle market is showing strong performance, particularly in pure electric and plug-in hybrid vehicles, with traditional fuel vehicles still holding a significant share in the northern and midwestern regions [14][15]. - In May 2025, the proportion of new energy vehicles in regions like Hainan and Tianjin reached around 60%, indicating robust growth [14][15].

Core Viewpoint - The article highlights the strong growth in China's passenger car market, particularly in the first quarter of 2025, driven by favorable policies and regional demand variations, with a notable increase in retail sales and a shift towards electric vehicles [2][3][4]. Group 1: Passenger Car Market Trends - In January to March 2025, the national passenger car market retail sales grew by 6% year-on-year, with significant growth observed in February and March [2][3]. - February saw retail sales of 1.385 million units, a 25% increase year-on-year, while March recorded 1.94 million units, a 15% increase year-on-year and a 40% month-on-month growth, marking a historical high for March [3][4]. - Cumulatively, retail sales reached 5.13 million units in the first quarter of 2025, reflecting a 6% year-on-year increase [4]. Group 2: Regional Market Analysis - The article identifies a new growth pattern in the car market, characterized by stronger performance in northern regions compared to southern regions, with Northeast and Northwest markets showing significant growth [5][6]. - In March 2025, the Northeast and Northwest regions exhibited robust growth, while the Central and Southern regions lagged behind, indicating a recovery in the Eastern markets post-Spring Festival [5][6][7]. - The Northeast region maintained a high market share of 5.9% in early 2025, while the Central Yellow River region showed a declining trend from 9.2% in 2019 to 8.4% in 2024 [6][9]. Group 3: Market Structure Changes - The article discusses the structural changes in the passenger car market, with a notable increase in the share of A00 and A0 class electric vehicles, particularly in the Northeast and Northwest regions [10][14]. - The demand for SUVs is strong in the Central and Western regions due to geographical factors, while the Eastern regions show a preference for lower-end electric vehicles [11][12]. - The article emphasizes the impact of government subsidies on the growth of economic electric vehicles, which have become a significant part of the market, especially in regions benefiting from the "two new" policies [14]. Group 4: New Energy Vehicle Market - The new energy vehicle market is experiencing strong growth, with pure electric and plug-in hybrid vehicles showing significant increases in market share [12][13]. - In regions like Hainan and Tianjin, the share of new energy vehicles has reached around 60%, indicating a robust growth trend [13]. - The article notes that traditional fuel vehicles still dominate in the Central and Western regions, where their share remains around 60%, while Eastern regions have surpassed 50% for new energy vehicles [12][13].

点 击 蓝 字 关 注 我 们 近几年的车市增长特征是"北强南弱"的新格局。今年2月整体车市增长相对较强，其中东北、西北以及华 南车市表现相对是较强的，而西南和中部长江地区车市表现相对增长较慢。由于春节后市场实际上属于恢复生 产生活的特征，打工人从家乡回到工作岗位，因此东部地区走势较强，但是今年东北和西北地区表现相对较 强，说明车市总体呈现较好的增长状态，而且从2024年与2019年对比，东北和西北是中国车市增长最快的地 区，而像南方地区总体表现相对较差，尤其中部地区总体表现相对是较差的地区之一。 | 中景 | 中部 | 东部 | | 区域市场 | 中部-长江 | 中部-黄河 | 西南 | 西北 | 东部-华南 | 东部-华东 | 东部-华北 | 东北 | | 区域市场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 28.3% | 22.8% | 49.0% | स्ट | 2019 | 13.6% | 9.2% | 15.2% | 8.0% | 14.5% | 1 ...