On the one hand, China's car ownership is gradually saturated. On the other hand, according to data from the China Association of Automobile Manufacturers, the auto industry returned to its peak season in the third quarter after the local market reopened. As consumers reallocate their spending in a bad economy, they will pay more attention to factors other than price, such as stylish technology and seamless user experience. This will be a breakthrough for traditional car companies and new power brands to achieve a new round of growth. This is the hard core behind the removal of policy dividends. Auto brands must rely on them to withstand the global raw material and supply crisis.
This article is part of a series on Spotlight China Focus: The Economic Repercussions of the "Long Epidemic" Era. Click to go to the topic page to read more about it.
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