投中网·2025-07-07 06:10Core Viewpoint - The automotive industry is experiencing a supply-demand imbalance, leading to a phenomenon known as "0-kilometer used cars," where new cars are registered but never driven, creating a secondary market that significantly undercuts new car prices [3][58]. Group 1: Price Dynamics - The price of new cars has drastically dropped, with models like the BMW 3 Series 2024 originally priced at 390,000 yuan now selling for 220,000 yuan, representing a significant discount [4]. - "0-kilometer used cars" are being sold at prices 20%-30% lower than new cars, with some models seeing price cuts of up to 70% off the suggested retail price [8][21]. Group 2: Market Mechanisms - The phenomenon of "0-kilometer used cars" has led to a complex export trade, particularly to markets like Russia, where these vehicles are sold under the guise of used cars to avoid taxes [10][18]. - The automotive industry has seen a surge in exports, with over 1.93 million Chinese cars exported from January to April this year, highlighting the growing interest in "0-kilometer used cars" [19]. Group 3: Industry Reactions - Wei Jianjun, chairman of Great Wall Motors, criticized the chaotic nature of the "0-kilometer used car" market, indicating that thousands of companies are involved in this practice, which has prompted regulatory discussions [13][16]. - The Ministry of Commerce has convened meetings to address the "0-kilometer used car" issue, indicating a recognition of the need for regulation in this area [16][50]. Group 4: Consumer Concerns - Consumers face risks when purchasing "0-kilometer used cars," particularly regarding warranty issues, as many manufacturers only provide coverage for the first owner [42][43]. - There are concerns about the condition of these vehicles, as they may have been idle for extended periods, leading to potential safety issues [44][45]. Group 5: Industry Challenges - The automotive industry is currently facing a price war, with many manufacturers reducing prices to stimulate sales, which has led to a perception of "0-kilometer used cars" as a means to offload unsold inventory [50][51]. - The oversupply in the market has created a competitive environment that may harm product quality and long-term industry health [55][57].