以创新“内功”破解价格“内卷”（市场漫步）

Core Insights - The Chinese automotive market is experiencing a robust growth, with retail sales reaching 1.932 million units in May, a year-on-year increase of 13.3%, setting a new record for May sales [1] - The cumulative retail sales for the first five months of the year reached 8.811 million units, reflecting a 9.1% year-on-year growth, indicating a sustained upward trend in the automotive sector [1] - The industry is facing intense competition characterized by price wars, which could lead to reduced profit margins and potential compromises in product quality and consumer safety [2] Group 1: Market Performance - In May, wholesale sales of passenger vehicles reached 2.31 million units, marking a 12.8% year-on-year increase and setting a historical high for the month [1] - The implementation of policies promoting vehicle trade-ins and the resumption of offline events have contributed to the increased market activity [1] Group 2: Competitive Landscape - The automotive industry is witnessing "involution" competition, with some companies engaging in aggressive price cuts, leading to a chaotic pricing environment [2] - This price competition is not only harming profitability but also poses risks to consumer rights and product safety, as companies may resort to cost-cutting measures that affect quality [2] Group 3: Consumer Trends - There is a shift in consumer preferences from price sensitivity to value sensitivity, with a growing demand for safety, technology, and overall experience in automotive purchases [3] - A report indicates that over half of vehicle replacement users prefer mid-to-high-end models, with the B-class vehicle market share rising to over 42% [3] Group 4: Policy and Industry Response - To address the challenges of "involution" competition, regulatory bodies are revising laws related to pricing and unfair competition, while also implementing measures to support the healthy development of the supply chain [4] - Leading automotive companies are focusing on technological innovation and increasing R&D investments, particularly in battery and smart connectivity technologies, to reshape the competitive landscape [4]