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CAAM Deputy Secretary General Calls for Gradual Exit of Vehicle Purchase Tax Reduction Policy
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The "2025 Automotive Industry Statistical Yearbook Working Conference" organized by the China Association of Automobile Manufacturers (CAAM) was recently held in Changsha, Hunan. Chen Shihua, Deputy Secretary General of the CAAM, systematically analyzed the current development trends in the automotive industry. He stated that overall automobile production and sales continue to grow steadily, with consumption-promoting policies effectively boosting the passenger car market, while the commercial vehicle market remains relatively feeble. New energy vehicles and complete vehicle exports are performing well, the sales share of Chinese brands remains high, and initial results are seen in the "involution competition" rectification. Chen suggested continuing to advance the implementation of various growth-stabilizing policy deployments, fully tapping into market potential, and called for a gradual withdrawal of the vehicle purchase tax reduction policy with a phased exit of 3% in 2026 and 7% in 2027. He also emphasized strengthening comprehensive rectification of "involution competition" and enhancing policy guidance and supervision. AASTOCKS Financial News Website: www.aastocks.com |
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