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According to Cui Dongshu, Secretary-General of the Passenger Car Association, the vehicle production in 2025 surged to 18.08 million units, marking an 11% year-on-year increase, fueled by the subsidy policy aimed at vehicle replacement and upgrading. From January to July, the total revenue of China's auto industry amounted to 5.9193 trillion yuan, a notable 8% year-on-year growth. Simultaneously, costs also rose by 8%, totaling 5.2056 trillion yuan. However, profits for the period stood at 273.7 billion yuan, reflecting a meager 0.9% increase and a profit margin of 4.6%. This profit margin is not only lower than the average 5.9% recorded by downstream industrial enterprises but also represents a decline from the 4.8% margin observed from January to June. Despite producing 30 million domestically produced vehicles, the industry's profitability trails that of Toyota.
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