Chui Dongshu, Secretary-General of China Passenger Car Association: Some electric vehicles with short range and high energy consumption face pressure to be redesigned.

Secretary-General Cui Dongshu of the Passenger Car Association expressed in a document that the trend of the passenger car market in October 2025 is relatively strong, achieving close to zero growth under a high base, showing a relatively stable trend. The market below 150,000 yuan is relatively active, with outstanding performance in small electric vehicles, while high-end extended range and plug-in hybrid models perform relatively weakly. The average price of passenger cars in January-October 2025 was 170,000 yuan, a decrease of 0.7 thousand yuan from the average price in 2024. In October, the average price of passenger cars was 166,000 yuan, a decrease of 0.1 thousand yuan compared to the same period. The prices of conventional fuel vehicles have been continuously increasing, resulting in a significant shrinkage in the mid-to-low end market, while the shrinkage in the high-end market is slow, rising from 150,000 yuan in 2019 to 183,000 yuan in 2023. In 2025, with the rapid shrinkage of high-end fuel vehicles, the average price in January-October 2025 decreased to 181,000 yuan, and in October to 180,000 yuan, stabilizing the car purchasing population gradually. The average price of new forces in January-October 2025 was 239,000 yuan, a decrease of 32,000 yuan from 2024, and the average price in October was 234,000 yuan, a decrease of 16,000 yuan from the same period, achieving a significant breakthrough through trading volume for price. The average price of domestic brands in 2025 was 122,000 yuan, a decrease of 5,000 yuan from the same period, with the average price of domestic brands in October being 122,000 yuan, a decrease of 1,000 yuan from the same period. Currently, as the deadline for the tax exemption policy for vehicle purchases approaches, the new energy vehicle market is booming. With the upgrade of the tax exemption technical indicators for new energy vehicles, some models with short range and high power consumption face pressure to redesign. Some brands may rush to promote sales in order to meet annual targets, while some car companies will compete for the market by upgrading technology rather than simply reducing prices, maintaining the terminal price system, reducing market turmoil at the end of the year, and achieving sustainable growth.