3 6 Ke·2025-11-11 03:16Core Insights - The article discusses the impending end of the vehicle purchase tax exemption for new energy vehicles (NEVs) in China, which has been in place for over a decade, and highlights the strategies adopted by various automakers to cope with this change [1][10][11]. Summary by Sections Purchase Tax Policy Changes - The exemption on vehicle purchase tax for NEVs will end by the end of 2025, with a new policy starting in 2026 that will halve the tax, allowing a maximum deduction of 15,000 yuan per vehicle [5][10]. - The current exemption allows for a maximum tax exemption of 30,000 yuan per vehicle, which will be reduced to 15,000 yuan starting next year [5][10]. Automaker Strategies - Automakers like Li Auto and Xiaomi are implementing sales strategies to encourage purchases before the tax exemption ends, including tax reimbursement policies for orders placed before the deadline [1][10]. - Many car manufacturers are launching new models in the second half of the year to boost sales, while some are offering subsidy guarantees for certain models to attract consumers [10][11]. Market Dynamics - The tightening of NEV incentives is leading to a shift in consumer behavior, with many potential buyers moving from a wait-and-see approach to making actual purchases [10][11]. - The overall market for NEVs has seen significant growth, with over 8.3 million applications for vehicle trade-ins this year, indicating a strong consumer interest in upgrading to new vehicles [11]. Impact of Subsidy Reductions - The reduction of subsidies and the tightening of policies are expected to impact the sales dynamics of different brands, with high-end brands like Li Auto and NIO seeing increased consumer inquiries, while mass-market brands like BYD are not experiencing the same urgency [15][16]. - The new regulations will also impose stricter requirements on the electric range of plug-in hybrid vehicles, potentially affecting around 40% of these models' eligibility for subsidies [16][17]. Industry Maturity - The article suggests that the NEV industry in China is transitioning from a policy-driven growth model to a market-driven one, emphasizing the need for automakers to focus on product quality, cost control, and market adaptability [17].