The downturn comes after policymakers reduced trade-in subsidies and ended a decade-long tax exemption
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China’s automotive spending plunged 12.6% year-on-year in the first half of 2026, the sharpest drop among all consumer goods, as reduced government subsidies and imposition of a purchase tax on new-energy vehicles (NEVs) battered the market.
China’s car industry is on a tear overseas. So why are sales at home plunging?
China automakers shift gears to exports as domestic demand weakens
China's car market heads for worst year since 2021 as sales plunge 20%
China's car market is heading for its worst year since 2021. Sales fell 20% in the first half.
Reduced subsidies and tax changes drag down early‑2026 vehicle purchases while exports surge to offset weak domestic demand
Domestic retail sales fell 20% in the first half, while exports surged more than 70%, underscoring a widening divide between…
High oil prices have hit sales of internal-combustion-engine vehicles, driving NEVs to a record 62.9% market share in May, even…
The government is injecting new funds into a scaled-back trade-in program as a multiyear push to revive domestic consumption…
As China’s passenger car market struggles, major automakers like Geely, Chery, and SAIC boost earnings by ramping up exports,…
Chinese car brands have suffered a steep drop in domestic sales this year, with Beijing scaling back subsidies and buyers…
