“反内卷”成效初显，7月小汽车价格止跌回稳

Core Viewpoint - The automotive industry is undergoing significant changes as multiple departments take action to address "involutionary" competition, effectively curbing the "price war" in the market [1][2]. Group 1: Market Conditions - Recent policies aimed at boosting domestic demand and consumption have led to improvements in market supply and demand relationships, resulting in positive price changes in certain sectors [1]. - In July, the Consumer Price Index (CPI) rose by 0.4% month-on-month, with industrial consumer goods prices increasing by 0.5%, indicating a stabilization in automotive prices [1]. - Data from the China Passenger Car Association shows that the average price of luxury brand cars was 358,000 yuan, up by 4,000 yuan year-on-year; joint venture brand cars averaged 175,000 yuan, up by 1,000 yuan; while domestic brand cars averaged 123,000 yuan, down by 1,000 yuan [1]. Group 2: Industry Outlook - Regulatory actions to halt prolonged "price wars" signal a turning point for the automotive industry, with manufacturers expected to reduce significant discounts and promotional financing, potentially stabilizing overall profitability and profit margins [2]. - Despite a decrease in production and sales in July, the year-on-year growth rates were 13.3% and 14.7%, respectively, indicating that demand suppression is not overly pronounced [2]. - The automotive industry is expected to see a gradual recovery in retail sales as several new models are set to launch in the third and fourth quarters, enhancing market supply [3].