Chinese consumers are anticipating big increases in car prices next year, as the central government gradually phases out its incentives for vehicle purchases. This could result in a surge in car sales amid eased competition for automakers through the end of this year, a UBS analyst said on Tuesday. Beijing said last April that it would offer buyers of additional gas-powered or green energy vehicles subsidies of up to RMB 7,000 or RMB 10,000 respectively. This was followed by an increase to RMB 15,000 and RMB 20,000 starting last August. The stimulus package for 2025 would be bigger than last year’s measures, Gong added, which UBS expects to have facilitated additional sales of 2 million cars in 2024.