Cui Dongshu, Secretary General of the Passenger Transport Federation Branch, said that recently domestic car companies are close to balance in inventory removal in the Russian market, driving the negative growth pressure on China's automobile exports to Russia and Central Asia to reduce. In 2026, China's automobile exports to Russia will become another round of highlights. Due to strong trade-in subsidies, the automobile trade-in scale is expected to exceed 180 billion yuan in 2025; in addition, the NEV purchase tax discount is 10%, benefiting 22% more sales than 2024, which means that the vehicle purchase tax of more than 200 billion dollars corresponding to NEV sales of more than 2 trillion dollars has been reduced. Therefore, with the support of tax exemptions and subsidies of nearly 400 billion dollars, the car market in 2025 will exceed expectations. However, in 2026, the 5% reduction in the NEV purchase tax alone will reduce duty-free concessions by more than 100 billion dollars, so the growth of the car market in 2026 is under tremendous pressure. Taking into account the wish for a good start to the “15th Five-Year Plan”, the end of 2025 is expected to be more stable, and there is no need to overdraft next year's growth potential.

Cui Dongshu, Secretary General of the Passenger Transport Federation Branch, said that recently domestic car companies are close to balance in inventory removal in the Russian market, driving the negative growth pressure on China's automobile exports to Russia and Central Asia to reduce. In 2026, China's automobile exports to Russia will become another round of highlights. Due to strong trade-in subsidies, the automobile trade-in scale is expected to exceed 180 billion yuan in 2025; in addition, the NEV purchase tax discount is 10%, benefiting 22% more sales than 2024, which means that the vehicle purchase tax of more than 200 billion dollars corresponding to NEV sales of more than 2 trillion dollars has been reduced. Therefore, with the support of tax exemptions and subsidies of nearly 400 billion dollars, the car market in 2025 will exceed expectations. However, in 2026, the 5% reduction in the NEV purchase tax alone will reduce duty-free concessions by more than 100 billion dollars, so the growth of the car market in 2026 is under tremendous pressure. Taking into account the wish for a good start to the “15th Five-Year Plan”, the end of 2025 is expected to be more stable, and there is no need to overdraft next year's growth potential.