无序“价格战”没有赢家 多管齐下整治汽车行业“内卷式”竞争

Core Viewpoint - The Chinese automotive industry is facing challenges due to chaotic "price wars," which are detrimental to both companies and consumers, leading to a call for fair competition and industry health [1][2][3]. Industry Performance - In the first four months of this year, China's automotive production and sales reached 10.175 million and 10.06 million units, respectively, marking a year-on-year increase of 12.9% and 10.8% [2]. - Despite the increase in production and sales, the automotive industry's revenue was 32.552 billion yuan, up 7% year-on-year, while costs rose to 28.636 billion yuan, up 8%, resulting in a profit of 1.326 billion yuan, a decline of 5.1% [2]. Impact of Price Wars - The "price wars" are identified as a significant factor in the declining profitability of the automotive industry, with profit margins dropping to 4.1% [2]. - The chaotic competition is squeezing profit margins, affecting normal operations, and threatening supply chain security, which could lead to a vicious cycle in the industry [2][3]. Supply Chain and Dealer Pressure - Both automotive supply chain companies and dealers are under pressure from the "price wars," leading to reduced quality and service levels [3]. - The focus on short-term profits due to "involution" is hindering long-term innovation and R&D investments [3]. Market Dynamics - The automotive market is entering a phase of stock competition, with a projected sales volume of approximately 31.436 million units in 2024, a growth of only 4.5% [4]. - The market concentration in China is relatively low compared to developed countries, with the top three companies holding about 36.2% of the market share [4]. Innovation Challenges - Insufficient innovation is leading to increased homogenization in competition, with weaker companies lacking the resources for R&D [5][6]. - The pressure from price wars is reducing the willingness of leading companies to invest in innovation, further impacting the industry's overall innovation drive [6]. Regulatory and Industry Response - The China Automotive Industry Association (CAAM) has proposed four initiatives to promote fair competition and curb "price wars," including compliance with legal regulations and avoiding predatory pricing [7]. - The Ministry of Industry and Information Technology plans to enhance regulatory efforts to address "involution" in the automotive sector and ensure consumer protection [7][8].