Cui Dongshu: The price reduction promotion intensity will be greatly reduced in 2025. The market remained relatively stable in July this year.

Secretary-General Cui Dongshu of the China Passenger Car Association issued a statement, stating that by 2025, both promotions and downgrades in the passenger car industry will return to rationality, and market order will significantly improve. The number of car models with price reductions from January to July in 2020-2022 was around 50, increased to 113 models in 2023, further increased to 147 models from January to July 2024, with actual decreases in guided prices. The scale of new car reductions this year is relatively moderate at 106 models. The intensity of price reductions and promotions will be significantly reduced in 2025, especially with a significant decrease in the number of discounted models from April to July. In July of this year, there were 17 car models with price reductions, which is relatively stable compared to 23 models in July of last year and 17 models in 2023.