【5.6 Lithium Battery News】Number of National Car Trade-in Subsidy Applications Surpasses 3 Million During Labour Day Holiday

India Proposes Zero Tariffs on Certain Quantities of US Auto Parts and SteelIn trade negotiations with the US, India proposed zero tariffs on certain quantities of steel, auto parts, and pharmaceuticals on a reciprocal basis. (Cailian Press)

Tariff Policy to Drive Up Prices of New and Used Cars in the US, Repair Costs Also to IncreaseThe New York Times reported on the 3rd that the US's 25% tariff on imported auto parts could significantly raise the prices of new and used cars, as well as repair and insurance costs. The report stated that tariffs on imported auto parts would have a broad impact, as even cars made in the US often have engines, transmissions, batteries, and other components produced in other countries. Trump's tariff policy has already driven up new car prices, as consumers rushed to dealers to buy cars before the tariffs took effect. The tariff policy has also affected the used car market, as more people are seeking affordable alternatives to new cars, increasing demand and prices. Tariffs on auto parts are expected to raise repair costs and insurance premiums, as replacing auto parts will become more expensive. Rising car prices will exacerbate inflation. (Cailian Press)

US Tariff Policy Disrupts Domestic Companies, Several US Firms Suspend Profit ForecastsAccording to CNN on May 4, due to the erratic nature of recent US tariff policies, several major global automakers have delayed or suspended profit forecasts. The report stated that automaker Stellantis Group released a report on April 30, indicating that it has suspended its 2025 profit growth forecast due to the impact of "changing" tariff policies. Previously, General Motors also issued a statement on April 29, withdrawing its 2025 profit growth expectations due to the potential impact of US tariff policies. (Cailian Press)

BYD: NEV Sales Reach 1.3809 Million Units in the First Four Months, Up 46.98% YoYBYD announced on May 5 that its NEV sales in April 2025 reached 380,100 units, up 21.33% YoY. From January to April 2025, the company's cumulative NEV sales reached 1.3809 million units, up 46.98% YoY. (Cailian Press)

Ford Motor Company Expects Tariffs to Cause $1.5 Billion LossFord Motor's adjusted EPS for Q1 was $0.14, while analysts expected a loss of $0.043 per share. Ford Blue's revenue for Q1 was $21 billion, compared to analysts' expectations of $20.08 billion. Ford Blue's EBIT for Q1 was $1.2 billion, compared to analysts' expectations of $1.22 billion. The company expects to suffer a $1.5 billion hit from tariffs this year and has suspended its 2025 performance forecast. (Cailian Press)

"Labour Day Holiday" Sees Over 3 Million Applications for Car Trade-In Subsidies NationwideAccording to the Ministry of Commerce, the national consumer market was vibrant and active during the 2025 Labour Day holiday. Data from the Ministry of Commerce's business big data monitoring showed that sales at key retail and catering enterprises nationwide increased by 6.3% YoY during the holiday. Trade-in programs were particularly popular. From the beginning of 2025 to 0:00 on May 5, applications for car trade-in subsidies exceeded 3 million. Consumers purchased 55.16 million units of 12 major categories of home appliances through trade-in programs and 41.67 million pieces of digital products such as mobile phones. In the first four days of the holiday, applications for car trade-in subsidies exceeded 60,000, driving new car sales of 8.8 billion yuan. Consumers purchased 3.56 million units of 12 major categories of home appliances, driving sales of 11.9 billion yuan, and 2.42 million pieces of digital products such as mobile phones, driving sales of 6.4 billion yuan. During the holiday, sales of home appliances, cars, and communication equipment at key retail enterprises monitored by the Ministry of Commerce increased by 15.5%, 13.7%, and 10.5% YoY, respectively. Sales of smart home products on key e-commerce platforms monitored by the Ministry of Commerce increased by over 20% YoY. Service consumption continued to heat up, with the catering and cultural tourism markets thriving. According to business big data monitoring, sales at key catering enterprises nationwide increased by 8.7% YoY during the holiday. (Cailian Press)