Cui Dongshu Of The CPCA: Since 2025, Nationwide Passenger Vehicle Industry Promotions And Price Cuts Have Returned To Rationality

On June 7, it was reported that Cui Dongshu from the Passenger Car Association stated that since 2025, the promotion and downgrading in the national passenger car industry have returned to rationality, and the market order has significantly improved. Due to the resumption of purchase tax on new energy vehicles, the impact of the guide price on consumers' tax when purchasing cars is evident.

In May 2026, there were price reductions for 20 models, 7 more than the same period last year. Among them, there were 7 pure gasoline models, 5 more than the same period last year; and 7 plug-in hybrid models, 4 more than the same period last year. The pressure on gasoline vehicles and narrow-sense plug-in hybrids is too great, so the price adjustments are understandable.

In 2026, a total of 77 models saw price cuts, 4 fewer than in the same period last year. Among them, 32 were conventional gasoline vehicles, up by 13 year-on-year; 4 were hybrid gasoline vehicles, up by 1 year-on-year; 16 were plug-in hybrid gasoline vehicles, unchanged year-on-year; 3 were range-extended models, down by 4 year-on-year; and 22 were pure electric vehicles, down by 14 year-on-year.

In May 2026, among newly discounted new-energy vehicle models with an average price of RMB 215,000, the arithmetic mean price reduction reached RMB 21,000, representing a relatively high discount level of 9.6%. From January to May 2026, among newly discounted new-energy vehicle models with an average price of RMB 249,000, the arithmetic mean price reduction reached RMB 31,000, corresponding to a discount level of 12.5%.

In May 2026, among regular fuel-powered new car models that saw price cuts, the arithmetic average discount reached RMB 25,000 on an average vehicle price of RMB 166,000, representing a price reduction of 14.9%. From January to May 2026, among regular fuel-powered new car models that saw price cuts, the arithmetic average discount reached RMB 33,000 on an average vehicle price of RMB 223,000, representing a price reduction of 14.6%.

In May 2026, the average price of new models with price reductions in the overall passenger vehicle market was RMB 202,000, with the arithmetic average of the price reduction reaching RMB 22,000 and the discount rate reaching 10.8%. From January to May 2026, the average price of new models with price reductions in the overall passenger vehicle market was RMB 241,000, with the arithmetic average of the price reduction reaching RMB 32,000 and the discount rate reaching 13.1%.

In May 2026, promotional discounts for new energy vehicles fell to a relatively high level of 9.8%, flat year on year and down 1.1 percentage points from the previous month. In May 2026, promotional discounts for traditional gasoline vehicles rebounded to 22.5%, up slightly by 0.4 percentage points from the previous month and flat year on year. Promotional discounts for gasoline vehicles have remained at around 23% for more than a year.

In May 2026, promotions for luxury vehicles gradually reached a mid-to-high level of 25.2%, up 1.2 percentage points from the previous month and down 0.5 percentage points from the same period last year. In May 2026, promotions for joint-venture gasoline vehicles gradually reached a low level of 22.3%, down 0.1 percentage point from the previous month and 0.2 percentage point lower than the same period last year. In May 2026, promotions for domestic gasoline vehicles gradually reached a mid-to-high level of 18.8%, up 1 percentage point from the same period last year.