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According to Cui Dongshu, Secretary-General of the Passenger Car Association, the implementation of subsidy policies aimed at vehicle replacement and upgrading has spurred significant growth in the automotive sector. From January to April 2025, automobile production surged to 10.12 million units, marking an 11% increase year-on-year. Concurrently, the revenue of the automobile industry swelled to 3.2552 trillion yuan, registering a 7% growth rate. Costs also escalated, reaching 2.8636 trillion yuan, up 8% from the previous year. Despite this, profits amounted to 132.6 billion yuan, a decline of 5.1% year-on-year, resulting in a profit margin of just 4.1% for the industry. This figure falls below the average profit margin of 5.6% observed among downstream industrial enterprises.
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