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<Research>CLSA Expects New Round of CN Auto Subsidies to Benefit Models Priced ~RMB150K, Unleash Consumer Demand
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The Chinese regulator's tone suggested that stimulating consumption will be the primary task for 2026, while the vehicle trade-in program will continue to receive financial support, with subsidy amounts calculated as a percentage of the vehicle price, CLSA wrote in its research report. In CLSA's estimate, these measures will serve as a boon for cars priced around RMB150,000, while the impact on lower-priced models will be neutral. They will also push further the transition of new energy vehicles towards high-end models. Overall, CLSA believes that the continuation of subsidy policies will help unleash consumer demand that was hesitant during 4Q25 and 1Q26. AAStocks Financial News |
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