V i e w p o i n t | 11 Aug 2025 10:00:44 ET │ 9 pages China Auto Manufacturers Rein-in 2H25 Stimulus; Begin fortifying a fine-tuned growth path for FY26 CITI'S TAKE We hosted an expert call with Mr. Cui Dongshu from the China Passenger Car Association (CPCA) on 11 August, with key takeaways set forth below. July sales review – (1) PV production volume -7% MoM (+12% YoY), slightly worse than expectation of slight MoM decline; (2) PV wholesales volume -11% MoM (+13% YoY); (3) PV retail -12% MoM (+6% YoY), mai ...