Cui Dongshu: Domestic passenger vehicle demand is far from peaking, and the long-term market still has huge growth potential.

Cui Dongshu, Secretary-General of the China Passenger Car Association (CPCA), wrote in a post that the current downturn in the domestic auto market is a temporary phenomenon caused by the combined effects of short-term policy disruptions, cyclical fluctuations, and institutional constraints, and is by no means a sign that the fundamentals of auto popularization have peaked. China's passenger car market is still in the mid-stage of popularization, with a vast blue ocean of first-time purchase demand in lower-tier counties, and coupled with the cost revolution brought by the new energy vehicle industry chain, there is enormous room for medium- to long-term growth. Demand in China's passenger car market is far from peaking, and there remains huge room for improvement in the medium to long term, with the auto industry still having great prospects.