CAAM official Xu Haidong highlighted that the extension of auto trade-in subsidies into 2025 is likely to be a significant driver of growth. However, he also pointed out that weak domestic demand ...

In early 2025, China expanded the scope of vehicle scrapping and replacement while improving subsidy standards for trade-ins.

Now it is pulling back," Xu Haidong, CAAM assistant secretary general, said at a briefing in Beijing. China's top auto industry body said its already meager forecast for full-year growth would be ...