Auto Aftermarket Consumption May See New Growth Opportunities in the Second Half, Industry Group Says

China's auto industry association said auto aftermarket consumption could see new incremental growth opportunities in the second half of the year. According to Jin10, the China Association of Automobile Manufacturers said in its outlook that the "two new" policy would continue to be implemented in an orderly manner. The association said companies were continuing to expand the supply of new products, market prices were relatively stable, and the overall economic performance of the industry was expected to improve further. It also said the external environment remained complex and volatile, uncertainty continued to rise, and insufficient domestic demand was still a prominent issue, leaving the industry under significant pressure. The association called for stabilizing policy expectations, strengthening guidance and regulatory oversight, closely monitoring changes in the international situation, effectively responding to risks and challenges, and steadily expanding international markets.