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Car industry to promote small cars and expand overseas market

Source: autoreport.cn | Date: Nov. 25

  • During a recent press conference held by the State Council, the Ministry of Industry and Information Technology said that car production and sales in China will no longer grow at “breakneck” speed.

  • In this light, the car industry will be focused on developing new energy vehicles, phasing out high-polluting vehicles, promoting small-displacement cars, expanding the overseas market for domestic brands, setting up a mechanism to promote outstanding carmakers and eliminating inferior ones, and issuing EV production licenses to more companies.

  • Specifically, China has halved the purchase taxes on 1.6L-or-below passenger cars in a bid to promote small-displacement vehicles. To expand its overseas market, China has also been focused on car production and localization in foreign countries.

  • Overall, in terms of national strategy, China not only has to rein in energy consumption internally, but also needs to encourage domestic carmakers to go global and establish their presence in overseas markets.