The NEV discount index stood at 0.81 in December 2025, with average discounts reaching RMB 11,300 ($1,624), up 15.74%. On January 28, the China Passenger Car Association (CPCA) and CAM Automotive Consulting released a report tracking price and discount trends in China’s passenger car market for December 2025. The data show that the year-end market did not continue a pure “price-for-volume” strategy. Instead, both transaction prices and discount levels increased simultaneously, indicating a shift in market structure. Across the overall market, the national passenger car price change index stood at 4.84 in December. The average transaction price reached RMB 166,200 ($23,900), up RMB 8,277 ($1,190) from the previous month, representing a month-on-month increase of 5.24%. By segment, transaction prices rose across all major categories, with sedans posting the strongest rebound at 8.05%. SUV and MPV prices increased by 1.4% and 3.38%, respectively. On the discount side, the overall market discount change index reached 0.45 in December. Average discounts widened to RMB 28,500 ($4,100), an increase of RMB 2,775 ($400) from November, up 10.8% month on month. Discounts expanded across all major segments, with MPVs seeing the largest increase at 21.7%. Discounts for sedans, SUVs and MPVs rose by 15.8%, 6.3% and 21.7%, respectively. Changes were more pronounced in the new-energy vehicle market. In December, the NEV price change index climbed to 7.68. Its average transaction price rose to RMB 175,500 ($25,200), up RMB 13,863 ($1,993) from the previous month, a month-on-month increase of 8.58%. Among NEVs, sedans recorded the sharpest gains. Average transaction prices reached RMB 118,300 ($17,010), up RMB 11,325 ($1,628) month on month, an increase of 10.58%. SUV and MPV prices rose by 2.6% and 2.9%, respectively. At the same time, discounts in the NEV market continued to expand. The NEV discount index stood at 0.81 in December, with average discounts reaching RMB 11,300 ($1,625), up RMB 1,531 ($220) from the previous month, a month-on-month increase of 15.74%. By segment, NEV MPV discounts averaged RMB 17,200 ($2,473) in December, up 35.4%. Discounts for NEV sedans and SUVs averaged RMB 11,400 ($1,640) and RMB 10,600 ($1,524), respectively. Overall, as the share of low-priced models shifts and product structures adjust, the pricing logic of China’s NEV market is changing, moving away from a one-directional downward trend.