王炸来了！比亚迪叫停“价格战”

Core Viewpoint - BYD's decision to cancel the limited-time "one-price" policy is seen as a significant turning point in the price war within the electric vehicle industry, reflecting both strategic changes by the company and regulatory intervention against chaotic competition [1][2]. Group 1: Reasons for Policy Change - The effectiveness of price cuts in driving sales has diminished, with BYD achieving only 32% of its annual sales target of 5.5 million units in the first five months of 2025, selling 1.7634 million units [1]. - Regulatory tightening is another driving force, as the Ministry of Industry and Information Technology and the China Association of Automobile Manufacturers have opposed "bottomless price wars," highlighting that industry profit margins have dropped to a historical low of 3.9% [1]. Group 2: Industry Implications - BYD's cancellation of the price war may trigger a chain reaction among other automakers, such as Geely, Chery, and Great Wall, as well as new players like Xpeng and Li Auto, potentially marking the end of price competition in China's electric vehicle market [2]. - For consumers, product quality and value are becoming more important than just price, as demonstrated by the market acceptance of Xiaomi's YU7 model, which is not the cheapest but is recognized for its strong product performance [2]. - The news is viewed positively for the capital market, particularly benefiting sectors related to new energy vehicles and automotive components, with solid-state batteries, BC batteries, inverters, and auto parts gaining attention [2].