长城汽车魏建军炮轰汽车圈“恒大”，A股汽车板块单日蒸发1000亿元

Core Viewpoint - The automotive sector in A-shares and Hong Kong stocks experienced significant declines due to a combination of price wars and public disputes, leading to a substantial market value loss across the board [1][2]. Group 1: Market Performance - A-shares automotive stocks collectively dropped, with BYD's A-share price falling over 6% at one point, closing down 5.93% at 310 CNY per share, with a total market value of less than 1.16 trillion CNY [1]. - In Hong Kong, the automotive sector fared worse, with BYD shares dropping over 9% at one point, closing at 421.8 HKD per share. Other companies like Geely and Li Auto also saw declines exceeding 9% [2][3]. Group 2: Price Wars and Competitive Dynamics - BYD initiated a new round of price cuts, launching a promotional campaign with discounts up to 53,000 CNY on various models, indicating a strong competitive pressure in the market [8][9]. - The price cuts are part of a broader strategy, with BYD aiming for a total sales target of 5.5 million vehicles by 2025, a nearly 30% increase from the previous year [9][10]. Group 3: Industry Commentary - Wei Jianjun, chairman of Great Wall Motors, criticized the current state of the automotive industry, suggesting that some manufacturers are overly focused on market capitalization rather than profitability, likening the situation to the "Evergrande" crisis [5][6]. - Wei emphasized the need for a healthy development of the automotive industry, advocating for a focus on sustainable practices rather than short-term gains [5].