Cui Dongshu, Secretary General of the China Passenger Car Market Information Joint Conference, provided the latest data showing that in January 2026, the average price of new car models with price reductions in the overall passenger car market was RMB 248,000 (hereinafter the same), with an average price cut of RMB 37,000.
A breakdown shows that the average price of new energy vehicle models with price reductions was RMB 253,000, with an average discount of RMB 38,000, representing a decrease of 14.8%; the average price of conventional fuel vehicles with price reductions was RMB 238,000, with an average discount of RMB 36,000, representing a decrease of 15%.
The data on price reduction magnitudes indicates that the overall price cut for new car models in Mainland China's passenger car market during that month reached as high as 14.9%, up 2.5 percentage points month-on-month and up 0.4 percentage points year-on-year. Whether measured by absolute discount amounts or percentage decreases, the figures for that month showed a notable increase compared to the annual average decline of 10.5% in 2025.
