Cui Dongshu, secretary-general of the CPCA, said China’s strong macro backdrop
and consumption-promotion measures should keep auto demand resilient and that
the national auto market will be broadly stable in 2026. Trucks and buses backed
by high production-materials subsidies are recovering strongly; the
commercial-vehicle segment is exhibiting equipment-renewal-driven structural
growth after recently implemented high subsidies, which are also accelerating
electrification in logistics and keeping commercial-vehicle sentiment elevated.
Following an outsized policy push in 2025, 2026 has seen a marked policy
pullback on entry-level consumption support, contributing to Jan–Jun
passenger-car retail declines and a collapse in gasoline passenger-car sales;
export gains helped keep June OEM sales relatively stable. June NEV sales were
muted, auto exports continued to strengthen, manufacturers’ inventories edged
down modestly, and there is no broad industry destocking.
