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Fitch: CN Auto Mkt to Record Growth Slowdown/ Structural Optimization in 2026 as Subsidy Reduction Resonates with 'Anti-involution'
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China's auto market will experience a slowdown in growth and structural optimization in 2026, Yang Jing, Director of Asia-Pacific Corporate Ratings at Fitch Ratings, said. In 4Q25, both the supply and demand for NEVs will be robust, with the auto market expected to achieve mid-to-high single-digit growth in 2025. Fitch anticipated that the demand in the auto market will be under pressure in 2026, with a higher likelihood of the continuation of national subsidy policies. The growth rate of NEV sales is expected to slow down in 2026, with penetration rates moderately rising to over 55%. Leading mainstream joint venture brands are expected to steadily recover, while traditional luxury brands will accelerate their moves towards intelligence and electrification. 'Anti-involution' measures are expected to marginally alleviate 'price wars', Yang added. These measures will enhance pricing norms and marketing discipline, potentially shifting industry competition from overt to covert. The management of supply chain payment terms and cash flow will become key variables in the redistribution of value across the industrial chain. The integration of dealer channels accelerated, highlighting the medium- to long-term value of quality service and user operations. AASTOCKS Financial News Website: www.aastocks.com |
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