New vehicle sales in the Philippines declined by 10% to 33,696 units in January 2026 from 37,504 units in the same month last year, according to members’ wholesale data released jointly by the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and the Truck Manufacturers Association (TMA). The market has begun to slow in the last few months, following three years of strong growth. January’s market decline followed a sharp slowdown in economic growth in the country in the fourth quarter of ...

2月23日，乘联分会秘书长崔东树发文表示，2026年1月乘用车均价18.6万元，均价提升1.5万元，市场回 落明显。 其中，常规燃油车价格持续上升，2026年1月均价18.1万元，燃油车购买群体买车逐步稳定。新能源车 的均价近期逐步下降，2026年1月是19.5万元，量跌价升，体现新能源车消费的结构性变化。 ...

Core Viewpoint - The automotive market in China is experiencing strong growth driven by national consumption promotion policies, with a positive outlook for 2025, particularly in the truck and bus segments [1] Group 1: Market Trends - The overall trend of the national automotive market is expected to remain strong in 2025, with noticeable recovery in the truck and bus markets [1] - In January, retail sales of passenger vehicles saw a month-on-month decline due to a significant reduction in policy support compared to the previous year, although manufacturer sales growth remained relatively strong due to increased exports [1] Group 2: Electric Vehicle and Commercial Vehicle Insights - The performance of new energy vehicles remained stable in January, primarily supported by a robust automotive export market, despite ongoing industry pressures [1] - The commercial vehicle market is anticipated to exhibit structural growth characteristics in 2026, driven by equipment renewal subsidies, which will accelerate the electrification of logistics and transportation vehicles, leading to a higher level of market activity [1]

Group 1: Market Overview - From February 1 to 8, the national passenger car retail market sold 328,000 units, a year-on-year increase of 54% and a month-on-month increase of 37%. Cumulative retail sales for the year reached 1.872 million units, a year-on-year decrease of 7% [2][5]. - During the same period, wholesale sales of passenger cars reached 284,000 units, a year-on-year increase of 46% and a month-on-month increase of 3%. Cumulative wholesale sales for the year were 2.257 million units, a year-on-year decrease of 2% [2][8]. - The retail penetration rate for new energy vehicles (NEVs) was 36.4%, while the wholesale penetration rate was 43.9% [2]. Group 2: Production Trends - In the first week of February, production of pure fuel light vehicles reached 158,000 units, a year-on-year increase of 276% and a month-on-month increase of 139%. Production of hybrid and plug-in hybrid vehicles totaled 73,000 units, a year-on-year increase of 70% but a month-on-month decrease of 28% [3]. Group 3: Sales Dynamics - The first week of February saw an average daily retail of 41,000 units, reflecting a year-on-year increase of 54% and a month-on-month increase of 37% [5]. - The first week of February's wholesale average was 36,000 units per day, with a year-on-year increase of 46% and a month-on-month increase of 3% [8]. Group 4: Used Car Market - In 2025, the used car market saw a transaction volume of 20.11 million units, a year-on-year increase of 3%, with a transaction value of 128.98 billion yuan, a growth of 0.4% [9]. - In December 2025, the used car market transaction volume was 1.87 million units, with a month-on-month increase of 7% and a year-on-year decrease of 1.5% [9]. Group 5: Price Adjustments and Promotions - In January 2026, the average price reduction for new energy vehicles was 38,000 yuan, representing a reduction rate of 14.8%. For conventional fuel vehicles, the average price reduction was 36,000 yuan, with a reduction rate of 15% [11][12]. - The overall promotion pressure for conventional fuel and hybrid vehicles was relatively low, while promotions for new energy vehicles saw significant decreases [12]. Group 6: Energy and Charging Infrastructure - China has 43.97 million electric vehicles and a battery storage potential of 2,000 GWh, with daily public charging of 300 million kWh, enhancing the energy ecosystem [13]. - The development of electric vehicles is driving the adjustment of time-of-use electricity pricing, facilitating a dual empowerment model for energy consumption and grid management [13].

Core Insights - Turkey's passenger car and light commercial vehicle market is projected to reach a record high in sales by 2025, with a year-on-year growth of 10.5%, totaling 1.37 million units [1] - Despite high tax burdens and a tight financing environment, market demand remains resilient, with December sales showing a 12.6% increase year-on-year, reaching 191,620 units [1] - The growth in demand is driven by factors such as a large population, increasing mobility needs, and an aging vehicle fleet [1] Market Projections - In 2025, passenger car sales are expected to be approximately 1.1 million units, reflecting a 10.6% year-on-year increase, while light commercial vehicle sales are projected at 283,904 units, up 10% year-on-year, both achieving historical highs [1] - The industry anticipates that sales in 2026 will remain roughly stable compared to 2025, but the market size is expected to increase to 1.5 million units or more in the medium to long term [1] Electric and Hybrid Vehicle Growth - In the realm of new energy vehicles, pure electric passenger car sales are estimated to reach around 190,000 units, marking a significant year-on-year growth of approximately 90%, capturing 17% of the passenger car market share [1] - Hybrid passenger car sales are projected at about 295,000 units, with a year-on-year increase of 63%, accounting for 27% of the passenger car market share [1]

Market Overview - In December 2025, the retail sales of passenger cars in China reached 2.296 million units, a year-on-year decrease of 13%, but a month-on-month increase of 3%. Cumulatively, retail sales for the year amounted to 23.779 million units, reflecting a year-on-year growth of 4% [1][5] - The wholesale volume for passenger cars in December 2025 was 2.759 million units, down 10% year-on-year and down 8% month-on-month. The cumulative wholesale for the year was 29.524 million units, showing a year-on-year increase of 9% [1][8] New Energy Vehicle (NEV) Performance - Retail sales of new energy vehicles in December 2025 reached 1.387 million units, a year-on-year increase of 7% and a month-on-month increase of 5%. Cumulatively, retail sales for the year were 12.859 million units, up 18% year-on-year [1][5] - The wholesale volume of new energy vehicles in December was 1.554 million units, a year-on-year increase of 3% but a month-on-month decrease of 9%. The cumulative wholesale for the year was 15.31 million units, reflecting a year-on-year growth of 25% [1][5] Production Trends - In the first four weeks of December, the production of pure fuel light vehicles was 905,000 units, down 29% year-on-year and down 16% month-on-month. The production of hybrid and plug-in hybrid vehicles totaled 525,000 units, down 26% year-on-year and down 21% month-on-month [2] Weekly Sales Trends - The average daily retail sales for the first week of December were 42,000 units, down 32% year-on-year and down 8% month-on-month. The second week saw an average of 67,000 units, down 17% year-on-year but up 9% month-on-month. The third week recorded 77,000 units, down 11% year-on-year and up 9% month-on-month. The fourth week had 90,000 units, down 12% year-on-year and down 15% month-on-month. The fifth week experienced a surge to 123,000 units, up 17% year-on-year and up 2% month-on-month [4][5] Policy Impact - The tightening of trade-in and scrapping subsidy policies has led to a cautious attitude among dealers, contributing to a decline in retail sales in November. However, the release of the new subsidy policy for 2026 is expected to stimulate demand and support a strong start in January 2026 [6][11] Global Market Share - In the first eleven months of 2025, China accounted for 68.4% of the global market share for new energy passenger vehicles, with a significant contribution to the global increase in sales [12][13]

第四部分是补贴资金管理。中央和地方按要求安排资金，用于支持汽车以旧换新补贴政策实施。各地结 合本地区资金规模，合理把握工作节奏。政策实施期结束后，中央就资金使用情况与地方进行清算。 《实施细则》包括六部分，共24条具体措施。 第一部分是汽车报废更新。2026年，对个人消费者报废符合条件乘用车旧车，并购买符合条件乘用车新 车的，给予一次性补贴。其中，对报废更新新能源乘用车的，按新车销售价格的12%给予补贴，补贴金 额最高2万元；对报废燃油乘用车，并购买燃油乘用车的，按新车销售价格的10%给予补贴，补贴金额 最高1.5万元。所报废的旧车和购买的新车，应登记在同一个人消费者名下。 第二部分是汽车置换更新。2026年，对个人消费者通过售卖方式转让乘用车旧车，并购买符合条件的乘 用车新车的，给予一次性补贴。其中，对换购新能源乘用车的，按新车销售价格的8%给予补贴，补贴 金额最高1.5万元；对换购燃油乘用车的，按新车销售价格的6%给予补贴，补贴金额最高1.3万元。所转 让的旧车和购买的新车，应登记在同一个人消费者名下。 第三部分是补贴审核与兑付。各地相关部门依托全国汽车以旧换新平台及各地汽车置换更新系统，对消 费者提交的 ...

Core Viewpoint - The wholesale sales of passenger cars in the Chinese market are expected to approach 30.1 million units in 2025, representing a year-on-year growth of 11% [2]. Group 1: Production and Sales Trends - From Q1 2025 to Q3 2025, the production of passenger cars in China is projected to show a year-on-year increase [2]. - The export volume of passenger cars from Q1 2025 to Q3 2025 is also expected to rise year-on-year [2]. - Retail sales of passenger cars in China during Q1 2025 to Q3 2025 are anticipated to grow compared to the same period last year [2]. - The wholesale sales volume of passenger cars in China for Q1 2025 to Q3 2025 is forecasted to increase year-on-year [2]. Group 2: New Energy Vehicle Trends - The sales trend for new energy vehicles (BEV/PHEV) in China from Q1 2025 to Q3 2025 is expected to show significant growth [2]. Group 3: Market Composition - The market share trends for various types of passenger cars in China from Q1 2025 to Q3 2025 will be analyzed [2]. - The market share trends for different brands in the passenger car sector from Q1 2025 to Q3 2025 will be assessed [2]. - The distribution of passenger cars by starting price ranges in China from Q1 2025 to Q3 2025 will be examined [2]. Group 4: Manufacturer Rankings - The top 10 manufacturers by delivery volume of passenger cars in China for Q1 2025 to Q3 2025 will be ranked [2]. - The top 10 manufacturers by delivery volume of new energy passenger cars in China for Q1 2025 to Q3 2025 will be ranked [2]. - The delivery volume trends of new force brands in the passenger car market from Q1 2025 to Q3 2025 will be analyzed [2]. Group 5: Future Sales Forecast - The sales forecast for passenger cars in China for the years 2025-2026 will be provided [3].

Core Viewpoint - The Trump administration plans to "reset" fuel efficiency standards for passenger cars to address rising auto prices and inflation concerns, which have been exacerbated by previous regulations aimed at reducing carbon emissions [1][5]. Group 1: Economic Context - The average price of a new vehicle reached an all-time high of over $50,000 in October, indicating a significant increase in auto prices [4]. - Overall inflation, as measured by the consumer price index, has been rising monthly since the announcement of tariffs on imported goods, including automobiles [3]. Group 2: Policy Changes - The proposed changes to fuel efficiency standards are expected to save consumers approximately $109 billion, equating to about $1,000 off the average cost of a new vehicle, although the timeline for price reductions remains uncertain [5]. - The new standards will roll back efficiency mandates established by the Biden administration, potentially altering automakers' long-term strategies and product development plans [6]. Group 3: Industry Response - Executives from major automotive companies, including Stellantis, Ford, and General Motors, expressed support for the new standards, emphasizing the need for alignment with market conditions and customer affordability [10]. - Following the announcement, shares of Ford and GM increased by about 1%, while Stellantis' stock rose by 4.7%, reflecting positive market sentiment towards the policy shift [10].

Core Viewpoint - Mazda Motor Corp. is facing significant challenges due to President Trump's tariffs, which have resulted in billions in potential headwinds, impacting its quarterly results and overall performance [1]. Group 1: Company Performance - Mazda reported a steep decline in its Growth score, dropping from 90.49 to 50.37 within a week following its fiscal second-quarter results, indicating underperformance in earnings and revenue growth [4]. - The company experienced year-over-year declines in sales and profits, attributing these losses to the tariffs, despite some reductions in tariffs ahead of a U.S.-Japan trade deal [4]. - Mazda suffered an operating loss during the quarter but remains hopeful for a turnaround in the second half of the year [4]. Group 2: Market Impact - The North American region is Mazda's largest market by volume, making it particularly vulnerable to trade and tariff policies [1]. - The stock has remained flat year-to-date but has decreased by 4.19% over the past month following disappointing earnings performance [5].