CIAC Subsidiary: Profit Margin of the Automobile Industry in January-February 2026 is 2.9%

The China Association of Automobile Manufacturers stated that in 2026, the country will implement more proactive macroeconomic policies, increase countercyclical and cross-cyclical adjustment efforts, continue to expand domestic demand, optimize the supply, and achieve a steady increase in overall market demand, achieving a good start. From January to February, various regions and departments have intensified the implementation of more proactive macroeconomic policies, focusing on leveraging the integrated effects of stock policies and incremental policies. In January and February 2026, automobile production was 4.02 million vehicles, a year-on-year decrease of 10%. The revenue of the automobile industry in January and February 2026 was 1.4824 trillion yuan, a year-on-year decrease of 0.9%; costs were 1.3147 trillion yuan, an increase of 0.2%; profits were 43.5 billion yuan, a year-on-year decrease of 30%; the profit margin of the automobile industry was 2.9%, lower than the average profit margin of downstream industries at 5.8%. Various regions have vigorously promoted the implementation of the "two new" policies in 2026, effectively unleashing the vitality of domestic demand. However, the profitability of the automobile industry lags significantly behind other consumer goods. With the continuous progress of the national anti-"involution" work, the profit margin of non-ferrous metal mining industry was 39.4%, and the petroleum extraction industry was 30.2%. The overall per-vehicle income of the automobile industry chain in January-February 2026 increased by 36,900 yuan to 110,000 yuan, with per-vehicle costs increasing by 35,000 yuan, per-vehicle taxes and fees increasing by 4,000 yuan, and per-vehicle gross profit of the industry chain decreasing by 3,000 yuan.