March Auto Sales Drop Year-on-Year; Sony Honda May Pause EV Project as Multiple Companies Double Down

From March 1 to 22, nationwide passenger vehicle retail sales reached 920,000 units, down 16% year-over-year, though weekly sales trends have shown gradual improvement. The new energy vehicle (NEV) retail penetration rate hit 53.9%. Sony and Honda are considering pausing EV development at their joint venture AFEELA, impacted by Honda's scaled-back EV strategy and the high investment with low returns. GAC’s AION UT has entered production at Magna’s plant in Austria, deepening its localized presence in Europe. Aptiv has announced a RMB 5 billion smart factory project in Jiaxing, focusing on intelligent cockpits and advanced driver-assistance systems. ZF plans to further divest assets to reduce debt and intends to cut 14,000 jobs in Germany by 2028. Minth Group reported a 16.1% year-over-year increase in net profit for 2025, outpacing its revenue growth. Autoliv and Chune Auto have formed a strategic partnership to enhance collaboration in safety systems and vehicle integration.