Zheng Quan Ri Bao·2025-11-07 16:27Core Insights - The adjustment of the vehicle purchase tax policy for new energy vehicles (NEVs) is aimed at ensuring that consumers do not incur additional costs due to tax changes when purchasing vehicles across the year [1] - The new policy, effective from January 1, 2026, will change the current exemption to a 50% reduction, with a maximum tax reduction of 15,000 yuan per vehicle [1] - This policy shift is seen as a recognition of the maturity of the NEV industry in China, which has grown from annual sales of 74,800 units in 2014 to over 11 million units in the first three quarters of 2025 [1] Industry Development - The NEV industry in China has experienced rapid growth, becoming the largest market globally, supported by the previous tax exemption policy that has been extended four times since its inception [1] - The adjustment is expected to enhance the industry's development quality rather than hinder its momentum, providing a buffer period for industry transformation [1] - The strong technological advantages of the Chinese NEV industry, including significant improvements in battery charging efficiency and leading electric motor technologies, underpin the policy change [2] Market Dynamics - The policy adjustment is anticipated to shift the industry from being policy-driven to market-driven, encouraging companies to rely on technological innovation and product quality [3] - Companies lacking core competitiveness may be eliminated from the market, while those with strong capabilities will thrive [3] - Increased market competition is expected to lead to better quality and cost-effective products for consumers in the long run [3] Future Outlook - The policy change is viewed as a new starting point for the Chinese automotive industry on the global stage, with expectations for a brighter future for the NEV sector [3] - Collaborative efforts among the government, enterprises, and consumers are believed to be crucial for the continued success and contribution of China's NEV industry to the global electric vehicle transition [3]