Cui Dongshu: In January-February 2026, the profitability of the automobile industry decreased by 2.9%, revenue decreased by 0.9%, costs increased by 0.2%, and profits decreased by 30%.

Secretary-General Cui Dongshu of the China Association of Automobile Manufacturers expressed in a statement that in 2026, the country will implement more proactive macroeconomic policies, increase counter-cyclical and cross-cyclical adjustments, continue to expand domestic demand, optimize the supply, and maintain stable and rising overall market demand to achieve a good start. In January and February, various regions and departments stepped up the implementation of more proactive macroeconomic policies, focusing on maximizing the integrated effects of existing and incremental policies. In January and February 2026, automobile production reached 4.02 million units, a 10% decrease compared to the same period last year. The industry's revenue for January and February 2026 was 1.4824 trillion yuan, down 0.9% year-on-year; costs were 1.3147 trillion yuan, up 0.2%; profits were 43.5 billion yuan, down 30% year-on-year; the profit margin of the automotive industry was 2.9%, lower than the average profit margin of 5.8% for downstream industrial enterprises, indicating that the automotive industry was still lagging behind. Various regions in 2026 made strong efforts to promote the implementation of "two new" policies, effectively releasing the vitality of domestic demand, but the improvement in the efficiency of the automotive industry significantly lagged behind other consumer goods. As the country continues to push forward with the work against internal competition, the profit margin of non-ferrous metal mining industry was 39.4%, the petroleum extraction industry was 30.2%, the overall single vehicle income of the automotive industry chain in January and February 2026 increased by 36,900 yuan, an increase of 3,600 yuan, single vehicle costs increased by 35,000 yuan, single vehicle taxes and fees increased by 4,000 yuan, and the single vehicle gross profit of the industry chain was 11,000 yuan, a decrease of 3,000 yuan.