Passenger Link Branch: Recently, the terminal market has been recovering at a steady pace, and the intertwining of multiple macro and industry factors has shaped a stable pattern of low market conditions. Affected by the blockage of navigation in the Strait of Hormuz, international oil prices fluctuated upward in July. Domestic refined oil prices rose by a total of nearly 985 yuan/ton in two rounds, drastically increasing fuel vehicle and vehicle maintenance costs, continuing to suppress users' willingness to buy fuel vehicles, and demand for traditional fuel vehicles continued to weaken. Recently, the price of new energy vehicles has been stable, and there is a strong wait-and-see mentality among consumers. With the beginning of the school season in mid-late August, there has been a marked improvement in car purchase consumption. Although there are few new products for small electric vehicles, market demand is strong. Coupled with abundant funds for trade-in subsidies, target pressure has gradually increased, and local policies have gradually been relaxed, gradually driving car market improvements to accelerate. In August, the car market was at the bottom of the recovery phase. With the gradual implementation of various policies to stabilize consumption and the gradual improvement of the superposition base, the decline in the passenger car market will gradually narrow, and the industry will officially enter a mature stage of value-driven and structural optimization, paving the way for the traditional “gold nine silver ten” market.

Passenger Link Branch: Recently, the terminal market has been recovering at a steady pace, and the intertwining of multiple macro and industry factors has shaped a stable pattern of low market conditions. Affected by the blockage of navigation in the Strait of Hormuz, international oil prices fluctuated upward in July. Domestic refined oil prices rose by a total of nearly 985 yuan/ton in two rounds, drastically increasing fuel vehicle and vehicle maintenance costs, continuing to suppress users' willingness to buy fuel vehicles, and demand for traditional fuel vehicles continued to weaken. Recently, the price of new energy vehicles has been stable, and there is a strong wait-and-see mentality among consumers. With the beginning of the school season in mid-late August, there has been a marked improvement in car purchase consumption. Although there are few new products for small electric vehicles, market demand is strong. Coupled with abundant funds for trade-in subsidies, target pressure has gradually increased, and local policies have gradually been relaxed, gradually driving car market improvements to accelerate. In August, the car market was at the bottom of the recovery phase. With the gradual implementation of various policies to stabilize consumption and the gradual improvement of the superposition base, the decline in the passenger car market will gradually narrow, and the industry will officially enter a mature stage of value-driven and structural optimization, paving the way for the traditional “gold nine silver ten” market.