As a result, many automakers, including established players, have faced unprecedented losses, such as Guangzhou Automobile Group Co. Ltd., which booked a 2.6 billion RMB net loss in the first half of 2025, down from a 1.5 billion RMB profit in the same period last year. Across China’s auto market, per-vehicle profits have fallen from upward of 20,000 RMB before 2022 to 14,000 RMB in the first five months of this year, according to Cui Dongshu, secretary-general of the CPCA.
