The recovery of the automobile market exceeded expectations.

Xu Changming, Deputy Director of the National Information Center, wrote in the Economic Daily that although China's domestic car market has seen a significant year-on-year decline, the recovery has far exceeded expectations. Since April this year, the recovery rate of China's car registrations has continued to increase year-on-year. In July this year, the year-on-year recovery rate of China's car registrations has reached 116.8%. There are two main factors driving the accelerated recovery of the car market. Firstly, the pandemic has led to an earlier purchase time and increased willingness to buy cars, resulting in an increase in current purchases. Secondly, China has introduced several policies to encourage car consumption, promoting consumer enthusiasm. "Golden September and Silver October" are traditional peak selling seasons, coupled with the frequent introduction of consumer promotion policies by the Ministry of Commerce and local governments, as well as frequent marketing activities such as car shows. In addition to the existing local car market stimulus policies, car consumption demand will further increase.