China's Auto Sales Drop 5.1% in August, NEV Sales Surge 17.8% YoY, Exports Up 65.3%

The US-Canada tariff war has escalated once again. Canada took the lead in imposing retaliatory tariffs on approximately $20 billion worth of US goods, and the US responded with tough countermeasures: starting September 15, a 50% tariff will be imposed on about 100 categories of Canadian products; starting September 29, imports of certain Canadian motor vehicles and dairy products will be further banned.

The European Central Bank announced a 25 basis point hike in all three key interest rates, in line with market expectations. The central bank noted that the Middle East conflict continues to push up inflation, and inflation is expected to remain well above the target level for an extended period. According to people familiar with the matter, ECB officials expect to raise rates further, with the next move possibly coming as soon as October.

The "15th Five-Year Plan" for intelligent connected NEVs has been officially released, clearly setting the overall goal that by 2030, China's intelligent connected NEV industry will rank among the world's automotive powers. Specifically, in the Chinese market, passenger NEVs and commercial vehicles are expected to account for 70% and 40% of total new vehicle sales in their respective segments; vehicles with autonomous driving functions will achieve large-scale application, with high-level autonomous driving realized on highways, urban expressways, and some urban roads.