外媒关注中国汽车反内卷：外国品牌在华命运不会改变

Core Viewpoint - The article discusses the recent measures taken by the Chinese government to curb the price war in the automotive industry, emphasizing a shift from aggressive price competition to a focus on technological advancements and quality improvement in the sector [1][3][7]. Summary by Sections Industry Overview - The Chinese automotive market is projected to sell approximately 31.43 million vehicles in 2024, with a 4.5% year-on-year growth, and 12.6% growth in the first eight months of this year [4]. - New energy vehicle (NEV) sales are expected to reach 12.87 million units in 2024, reflecting a significant 35.5% increase [4]. Price War and Its Impact - The average price of vehicles in China has decreased by 19% over the past two years, with some models seeing price cuts of up to 35% [4]. - The net profit of the automotive industry fell by 12% to 178 billion yuan in the first five months of this year, with the median net profit margin dropping from 2.7% in 2019 to 0.83% in 2024 [4]. Government Measures - The "Automotive Industry Stabilization Work Plan (2025-2026)" was released to regulate competition, including cost investigations and price monitoring [1][5]. - The plan aims to address issues such as false advertising and to ensure fair competition, with a focus on improving the payment terms for suppliers [5][8]. Future Goals - The government aims for a total vehicle sales target of around 32.3 million by 2025, with NEV sales projected at 15.5 million, indicating a shift towards quality over quantity [6][7]. - The plan emphasizes the importance of quality and efficiency in the industry, signaling a transition from a volume-driven approach to a more sustainable model [6][8]. Market Dynamics - The restructuring of the industry is expected to accelerate the exit of less competitive firms, allowing resources to concentrate on more capable companies [8]. - The market share of domestic brands has increased significantly, rising from 34% in 2020 to 69% in early 2025, while foreign brands continue to lose ground [9][10]. Export Growth - Chinese automotive exports reached 4.3 million units in the first eight months of this year, including 1.5 million NEVs, indicating a strong global presence [10]. - The utilization rate of NEV factories is projected to rise from 61% in 2024 to 81% in 2026, reflecting improved supply-demand balance due to increased exports [10].