In Depth: China’s Carmakers Face Crossroads as Slowdown Persists

For China’s auto industry, 2025 could be a year of fiercer competition, greater external pressure and more technological innovation.

In April, the National Development and Reform Commission (NDRC), China’s top economic planner, and the Ministry of Finance launched subsidies for prospective car buyers who trade in their older cars for new electric models. Three months later, the government doubled the subsidies.