The "2024 China Automotive Circulation Industry Annual Conference (Exposition) and the 7th General Assembly of Members" hosted by the China Automobile Circulation Association was successfully held in Suzhou from November 6 to 8, 2024. The "2024 Automobile Market Trend Development Seminar" was held on the afternoon of November 7th during the conference.

This conference focuses on the current pulse and future direction of the automotive circulation industry, bringing together numerous authoritative experts and outstanding representatives from leading companies in the field to conduct in-depth analysis on industry hotspots. From the dynamic changes in the new car market to the rise of new energy and used car markets; from the deep exploration of consumer demands to the broad perspective of the international automotive market, the aim is to deeply reveal the latest characteristics and future trends of the automotive market through multidimensional and comprehensive discussions.

Liang Xuehong, the deputy secretary-general of the China Automobile Circulation Association, analyzed the current situation and challenges of the automobile market in her speech titled "2025 Automobile Market: Integrated Development of Economic, Environmental, and Innovative Factors." She pointed out that the market performance of the passenger vehicle market in the first nine months of this year fell short of expectations, with dealers facing imbalances in production and sales and inventory pressure. However, despite the many challenges, the automobile market is also embracing new development opportunities. The introduction of two new policies is accelerating the release of automobile consumption demand. At the same time, with the rapid growth of the market size for automobile scrapping and dismantling, the potential for the circular economy development of the automobile market is enormous.

Luo Lei, the vice president of the China Automobile Circulation Association, delivered a profound speech titled "The Development of the Second-hand Car Market Amidst Transformation," providing a comprehensive analysis of the transformation trends in the automotive circulation industry, the evolution of market entities, and the latest dynamics and future prospects of the second-hand car market. He pointed out that the main structure of the second-hand car market is undergoing a significant transformation. The traditional model, which was composed of a single trading market and small and micro car dealers, is gradually shifting to a new pattern dominated by distribution enterprises and the coexistence of multi-dimensional market entities. In this transition, the influx of new entities such as large dealer groups, new car sellers, and manufacturing companies not only injects fresh blood and vitality into the second-hand car market but also drives the market towards greater standardization and specialization. Furthermore, within the dynamic changes of the second-hand car market itself, the rapid growth of the new energy second-hand car market represents a new opportunity for market development. Second-hand car operating enterprises must keenly grasp this opportunity, actively respond, and continuously enhance their competitiveness and service levels. With the joint efforts of all parties, the second-hand car market will surely overcome the many difficulties on its path forward and embrace a more prosperous and beautiful future.

Zhang Peili, a market research expert at Lynk & Co Auto Sales Co., Ltd., shared insights on the significant impact of the dynamic evolution of consumer preferences for new energy vehicles on the future direction of the new energy market and product innovation trends from her perspective. She believes that with the maturation of the industrial chain and the stability of the policy market, consumer demand and preferences will serve as key core factors driving the long-term development of the new energy market. At the same time, the vigorous rise of the new energy market and the rapid growth of the existing market are prompting companies to continuously review and enhance their comprehensive experience in products and services, in order to win higher customer loyalty in fierce market competition. This trend not only requires companies to closely monitor changes in consumer demand but also to innovate continuously in product features and service models to meet the increasingly diversified and personalized needs of consumers. Thus, they can navigate steadily through the waves of the new energy market and lead the new trends in industry development.

SG-Auto's Chief Editor, Xu Cheng, delivered a speech titled "New Opportunities in Financial Leasing Business from an International Perspective." He pointed out that in the new exploration of the domestic development of financial leasing business, Europe's fleet remarketing and fleet management innovation strategies offer significant insights. Europe, with its mature fleet ecosystem, demonstrates an efficient full-chain process from vehicle procurement to remarketing. Particularly, its fleet management companies, through digital management and innovative service models, not only enhance fleet operational efficiency but also achieve a leap in asset value through the remarketing of used vehicles. These experiences will provide valuable references for domestic financial leasing enterprises.

The theme of Zhou Lijun's speech, the director and chief analyst of the YiChe Research Institute, is "Exploring the Differentiated Evolution of the Used Car Market and the New Car Market." He pointed out that in 2023, the Chinese car market is still dominated by the working class, but car manufacturers are facing challenges. The used car market, with its high cost-effectiveness, has become a strong competitor in the working-class car market, driving the car market to accelerate its shift. At the same time, the middle class and the wealthy have become the new mainstays of the new car market. In the face of market changes, car manufacturers need to delve deeply into consumer needs, formulate differentiated strategies, and improve product cost-effectiveness and service quality. In the fierce market competition, grasping market trends and meeting consumer needs are key to the sustainable development of car manufacturers.

Li Xin, the deputy secretary-general of the China Automobile Circulation Association, delivered a speech titled "Price Dynamics of the Second-hand Car Market in 2024: Declining Trends and Their Interaction with the New Car Market." She thoroughly analyzed the underlying reasons for the price fluctuations in the second-hand car market and its future direction, focusing on the closely linked interaction effects between the second-hand and new car markets. Li Xin pointed out that, given the increasingly fierce market competition and the diverse evolution of consumer demand, the prices in the second-hand car market are expected to show more frequent fluctuating trends. At the same time, the association is also committed to launching more diversified and comprehensive information service products to better serve the industry and enterprises.

The final session of the conference was the launch ceremony for the "2024 China Automotive Market Yearbook" and the "2024 China Used Car Industry Development Report". These two reports summarized the development and trends of the Chinese automotive market and the used car industry in 2024, providing important references and insights for both industry insiders and outsiders.

The successful organization of this symposium not only provided a platform for the exchange of ideas and sharing of experiences among peers in the automotive industry but also injected new vitality and momentum into the sustained and healthy development of the industry.