在国补具体政策尚未出台、新能源汽车开征购置税等因素的影响下，2026年车市或面临较大 压力。 随着各地汽车以旧换新补贴陆续用完，汽车市场开始急速变冷。近日，经济观察报记者连续走访了奔驰 汽车、小鹏汽车、广汽传祺、广汽埃安、东风本田、广汽丰田等多个品牌的4S店，并未看到往年年底 热闹的抢购场景。与之相反，多数4S店里只有一两组客人，气氛有些冷清。 "12月市场很淡，业绩也很差，主要受到国补和多地政补取消叠加下半年度高息高返取消等因素影响。 由于明年新能源开始征收50%购置税，业内原本预计年底会出现翘尾行情，但国补和置换外迁政策的取 消，还是带来了不小的影响。"北京地区某广汽丰田汽车经销商负责人对经济观察报表示。 补贴政策出现变数，是目前车市波动的关键因素。根据国家发改委和财政部的政策安排，当前中央财政 层面的汽车以旧换新补贴资金统一发放至2025年12月31日为止，但由于补贴刺激消费效果明显，许多地 方补贴资金已提前消耗完毕。另外，工业和信息化部、财政部、税务总局已联合发布公告，明确2026年 1月1日至2027年12月31日期间，新能源汽车车辆购置税将减半征收。此外，对享受优惠的车辆设定了更 严格的技术标准。 ...

Core Viewpoint - The automotive market in 2026 is expected to face significant pressure due to the cancellation of subsidies and the introduction of a 50% purchase tax on new energy vehicles [1][4][12]. Group 1: Market Conditions - The automotive market is experiencing a downturn, with retail sales in November dropping to 2.225 million units, a year-on-year decrease of 8.1% [6]. - The cancellation of local subsidies has led to a significant decline in consumer activity, with many dealerships reporting a lack of customers compared to previous years [2][7]. - The expectation of a year-end sales surge has not materialized, as dealers report disappointing sales figures [6][12]. Group 2: Subsidy Policies - The central government's vehicle replacement subsidy is set to continue until December 31, 2025, but many local subsidies have already been exhausted [2][8]. - The introduction of a 50% purchase tax on new energy vehicles starting in 2026 is anticipated to further strain the market [4][12]. - Despite the challenges, some regions are still implementing local subsidies to stimulate sales, with examples of cash incentives being offered in various cities [9][14]. Group 3: Company Responses - In response to the market conditions, many automakers are introducing their own incentives, such as covering the additional purchase tax for customers who order vehicles before the end of 2025 [3][12]. - Companies like Dongfeng Honda and Lynk & Co are optimistic about maintaining stable sales through strategic product offerings and adapting to policy changes [12][13]. - Automakers are focusing on enhancing their product value and aligning their strategies with local market demands to navigate the upcoming challenges [13][14].

随着各地汽车以旧换新补贴陆续用完，汽车市场开始急速变冷。近日，经济观察报记者连续走访了奔驰汽车、小鹏汽车、广汽传祺、广汽埃安、东风本田、 广汽丰田等多个品牌的4S店，并未看到往年年底热闹的抢购场景。与之相反，多数4S店里只有一两组客人，气氛有些冷清。 "12月市场很淡，业绩也很差，主要受到国补和多地政补取消叠加下半年度高息高返取消等因素影响。由于明年新能源开始征收50%购置税，业内原本预计 年底会出现翘尾行情，但国补和置换外迁政策的取消，还是带来了不小的影响。"北京地区某广汽丰田汽车经销商负责人对经济观察报表示。 补贴政策出现变数，是目前车市波动的关键因素。根据国家发改委和财政部的政策安排，当前中央财政层面的汽车以旧换新补贴资金统一发放至2025年12月 31日为止，但由于补贴刺激消费效果明显，许多地方补贴资金已提前消耗完毕。另外，工业和信息化部、财政部、税务总局已联合发布公告，明确2026年1 月1日至2027年12月31日期间，新能源汽车车辆购置税将减半征收。此外，对享受优惠的车辆设定了更严格的技术标准。 汽车一线销售人员对市场的冷热表现感受更加直接。北京丰台区某广汽埃安销售人员表示："今年年底并不忙，主 ...

王帅国 随着各地汽车以旧换新补贴陆续用完，汽车市场开始急速变冷。近日，经济观察报记者连续走访了奔驰 汽车、小鹏汽车、广汽传祺、广汽埃安、东风本田、广汽丰田等多个品牌的4S店，并未看到往年年底 热闹的抢购场景。与之相反，多数4S店里只有一两组客人，气氛有些冷清。"12月市场很淡，业绩也很 差，主要受到国补和多地政补取消叠加下半年度高息高返取消等因素影响。由于明年新能源开始征收 50%购置税，业内原本预计年底会出现翘尾行情，但国补和置换外迁政策的取消，还是带来了不小的影 响。"北京地区某广汽丰田汽车经销商负责人对经济观察报表示。 补贴政策出现变数，是目前车市波动的关键因素。根据国家发改委和财政部的政策安排，当前中央财政 层面的汽车以旧换新补贴资金统一发放至2025年12月31日为止，但由于补贴刺激消费效果明显，许多地 方补贴资金已提前消耗完毕。另外，工业和信息化部、财政部、税务总局已联合发布公告，明确2026年 1月1日至2027年12月31日期间，新能源汽车车辆购置税将减半征收。此外，对享受优惠的车辆设定了更 严格的技术标准。 面对市场的冷清局面，各家车企纷纷"自掏腰包"推出优惠政策，最主要的表现是众多车企宣布 ...

Core Insights - The automotive industry is experiencing a surge in consumer interest during the Golden Week, driven by attractive promotional offers and subsidies [1][4][5] - Major car exhibitions in regions like Tianjin and surrounding areas are witnessing high foot traffic and sales activity, with various brands offering significant cash discounts and promotional packages [2][4] Group 1: Promotional Strategies - Car manufacturers are implementing various promotional strategies such as "one-price" offers, low down payments, and cash discounts to stimulate sales during the Golden Week [2][3] - Specific examples include GAC Toyota's "one-price" starting at 129,800 yuan for the Venza and Honda's Accord with discounts up to 55,000 yuan, bringing the price down to 124,800 yuan [3] Group 2: Consumer Behavior - Consumers are actively seeking to take advantage of the promotional offers, with many planning to make purchases during the car exhibitions [1][2] - The presence of family members at the exhibitions indicates a collective decision-making process, with buyers comparing multiple models and offers [2][4] Group 3: Market Trends - The automotive market is expected to see a significant boost in sales during the Golden Week, supported by government subsidies and local promotional activities [4][5] - The "golden September and silver October" period is traditionally a peak season for car sales, and this year is expected to follow the trend due to the combination of festive events and promotional activities [5]

Core Insights - The article highlights the increasing market share and value retention of Chinese domestic brands in the automotive sector, particularly in the context of the ongoing vehicle replacement policy in China [1][5]. Group 1: Market Trends - The latest data from the China Automobile Circulation Association indicates that the three-year depreciation rate for leading domestic brands has reached 57%, surpassing luxury brands like BBA (53%) and joint venture brands from the US, France, and South Korea (40%) [1]. - The trading volume of used new energy vehicles has exceeded 10%, becoming a core driver of market growth [1][4]. - The demand for used cars is shifting, with consumers increasingly prioritizing vehicle quality and diverse service experiences over mere pricing [5]. Group 2: Brand Performance - GAC Trumpchi leads the domestic brand retention rate, with top models like the Trumpchi, Tank, and Lynk & Co showing three-year depreciation rates of 57.5%, 56.8%, and 54.3% respectively, outperforming joint venture brands like Volkswagen (52.8%) [2][3]. - In the electric vehicle segment, models such as Xiaomi SU7 and AITO M9 have achieved a one-year retention rate of up to 88.7%, significantly higher than luxury models like Porsche Taycan and Tesla Model 3 [3]. - The used car market is witnessing a "younger" trend, with a notable increase in transactions for vehicles less than two years old, particularly among domestic brands [4]. Group 3: Market Dynamics - The number of used cars available for sale reached over 780,000 units in April, marking a record high for a single month [5]. - The competitive landscape in the used car market is stabilizing after initial price adjustments, with brands finding new market positions [5]. - The article anticipates a moderate increase in used car transaction volumes in May compared to April [5].