年轻人追求的松弛感，车企做不到

Core Viewpoint - The article discusses the ongoing price war in the Chinese automotive industry, highlighting significant price cuts by major players like BYD, Geely, and Chery, which are driven by sales pressure, high inventory, and market competition [4][22][30]. Group 1: Price Cuts and Market Reactions - BYD launched a "100 billion subsidy" campaign on May 23, 2025, with price reductions of up to 53,000 yuan for its models [4][10]. - Geely and Chery quickly followed suit with their own price reduction campaigns, with Geely's Star Wish model starting at 59,800 yuan and Chery's Tiggo 3X at 34,900 yuan [5][12]. - The price war has led to significant discounts, with some models seeing price drops of nearly 50% compared to their original prices [12][14]. Group 2: Reasons Behind the Price War - Sales targets are under pressure, with BYD aiming for 5.5 million units by 2025 but only achieving 1.38 million in the first four months of the year [22]. - High inventory levels are a concern, with the overall passenger car inventory reaching 3.5 million units by the end of April 2025, necessitating urgent clearance [22][24]. - Government policies, such as the vehicle trade-in program, have further incentivized price reductions among manufacturers [24]. Group 3: Industry Dynamics and Future Outlook - The article notes that the price war reflects deeper industry anxieties, including declining profit margins, which have dropped from 7.8% in 2017 to 4.1% in early 2025 [29][30]. - Companies are restructuring to improve efficiency and competitiveness, with several automakers adjusting their organizational structures to better respond to market changes [27][28]. - The article concludes that while consumers benefit from lower prices in the short term, the long-term implications for quality and safety in the industry are concerning, with calls for a return to more rational competition [30].