On April 10, during the 2025 Automotive Market Development Forum organized by the China Automobile Dealers Association, Wang Qing, Deputy Director of the Market Economy Research Institute at the State Council Development Research Center, stated that government policies continue to significantly stimulate automobile consumption this year. He predicts that the subsidy policy will cover around 25 million passenger vehicles, tapping into the potential of lower-tier markets and regions in central and western China. This is expected to drive an additional consumption of over 2 million vehicles through scrappage and replacement.
Wang Qing also noted that there is currently no significant effect of advanced consumption, and there remains a suppressed demand for 500,000 to 1 million new vehicles yet to be released into the market.
Regarding the trend in the new energy vehicle market, he believes that the domestic sales of new energy vehicles are likely to reach 17 million this year, with a market share approaching 58%.
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