Core Viewpoint - The competition in the Chinese automotive market has intensified significantly, with a price war emerging earlier than expected, leading to fierce confrontations among major players like BYD and Geely [2][3][4]. Group 1: Price War Dynamics - The recent price war was ignited by BYD's aggressive pricing strategies, including initiatives like "oil-electric same price" and "electric cheaper than oil," which have significantly boosted its sales and market presence [6][19]. - Other automakers have responded to BYD's success by adjusting their strategies, leading to a competitive landscape where companies are forced to lower prices to remain relevant [21][22]. - The overall market dynamics indicate a shift towards a "zero-sum game," where one company's gain is another's loss, resulting in continuous price reductions across the industry [22][34]. Group 2: Market Performance and Sales Data - In the first four months of the year, the domestic passenger car market saw sales of 10.12 million units, a year-on-year increase of 11.6%, while industry revenue reached 3.26 trillion yuan, up 7% [17]. - BYD's wholesale sales from January to May reached 1.736 million units, achieving 31.6% of its annual target of 5.5 million units, while Geely sold 603,000 units, meeting 22.3% of its 2.7 million target [25]. Group 3: Industry Challenges and Future Outlook - The current competitive landscape is characterized by a multitude of brands and products, creating a scenario where companies must continuously adapt to survive, leading to an unsustainable cycle of price cuts [22][34]. - The need for industry consolidation is highlighted as a potential solution to the ongoing internal competition, with suggestions for mergers and restructuring to streamline operations and improve efficiency [28][30]. - Government intervention is seen as crucial for managing the industry's challenges, including the enforcement of exit mechanisms for underperforming companies and the encouragement of a healthier market environment [29][31].

Core Viewpoint - The automotive industry is experiencing an unprecedented price war, with over 200 models expected to see price reductions in 2024, and more than 60 models already reduced in the first four months of 2025. This aggressive price competition has driven profit margins down to a low of 4% [1] Group 1: Industry Challenges - The price war has led to significant price cuts, with some models seeing reductions of up to 50,000 yuan, and even prices dropping to the 30,000 yuan range [1] - The ongoing price competition is squeezing reasonable profit margins, which could negatively impact product and service quality in the long run [1] Group 2: Three Bottom Lines for Industry Stability - The first bottom line emphasizes the importance of maintaining quality and safety standards, adhering to legal regulations, especially in light of recent accidents involving new technologies [2] - The second bottom line focuses on integrity in business practices and maintaining cooperative relationships within the industry, highlighting the need for ethical marketing and adherence to contractual obligations [2] - The third bottom line advocates for a long-term perspective, urging companies to prioritize technological innovation and differentiation over short-term low-price strategies [3] Group 3: Long-term Strategy and Market Impact - Companies should enhance product value through technological innovation rather than relying solely on price advantages to capture market share [4] - Engaging in below-cost sales not only harms individual companies but also disrupts the overall market order, jeopardizing future industry growth [4] - The potential for "internal competition" to escalate into "external competition" in international markets poses risks to the reputation and competitiveness of Chinese automotive brands [4]

Group 1 - The chairman of Geely Holding Group, Li Shufu, highlighted the serious overcapacity in the global automotive industry and announced that Geely will not build or expand production facilities, opting instead to utilize existing global overcapacity through pragmatic cooperation and resource restructuring to enhance utilization rates among peers [1] - Li Shufu compared the development of the Chinese automotive industry to a marathon, indicating that the primary competition occurs domestically with a low export ratio, and he criticized certain companies' competitive practices as "embarrassing" [1] Group 2 - Multiple government departments have recently issued regulatory policies to address "involution" in the automotive industry, with the Ministry of Commerce emphasizing the strategic importance of the automotive sector and pledging to enhance market research and policy guidance to eliminate barriers to automotive consumption [3] - The Ministry of Industry and Information Technology supported the initiative from the China Automotive Industry Association to intensify efforts against "involution" competition, advocating for structural optimization and consistency checks in products, while also addressing unfair competition [3] - The China Association of Automobile Manufacturers reported that a recent significant price cut by one automaker triggered a new wave of price wars, which could squeeze profit margins, affect product quality and after-sales service, and ultimately harm consumer rights and the sustainable development of the industry [3]

Core Viewpoint - The Chinese automotive industry is calling for an end to chaotic "price wars" among companies, emphasizing the need for fair competition and sustainable development through technological innovation [1][3][4]. Group 1: Industry Response to Price Wars - The China Automotive Industry Association has issued an initiative against disorderly price wars, stating that there are no winners in such competition [1][10]. - Industry leaders, including Chery and NIO, agree that price wars lead to negative consequences for suppliers, dealers, and the overall industry, advocating for a focus on technological innovation instead [3][4][10]. - Executives from various companies, such as BYD and Changan, express their commitment to fair competition and the importance of enhancing product quality and service rather than engaging in price wars [7][8][10]. Group 2: Industry Performance and Challenges - In 2024, China's automotive production and sales both exceeded 31 million units, with new energy vehicles (NEVs) surpassing 10 million units for the first time [8]. - Despite record production and sales, the industry's profit margin was only 4.3%, lower than the overall downstream industrial profit margin [8][10]. - The prevalence of over 60 discounted models in the domestic market has led to increased sales but further declines in profit margins for many companies [10][11]. Group 3: Future Directions and Innovations - Industry experts emphasize that the key to China's automotive success lies in innovation rather than low pricing, with a focus on meeting consumer demands through technological advancements [12][14][18]. - Companies are encouraged to adopt a long-term perspective, investing in research and development to enhance competitiveness and avoid the pitfalls of price wars [18][19]. - The government plans to strengthen regulatory measures to maintain a fair market environment and promote high-quality development in the automotive sector [19][20].

Core Viewpoint - The Chinese automotive industry is facing a new wave of price wars initiated by some companies, which has raised concerns about unhealthy competition and its impact on profit margins, product quality, and consumer safety [2][4][10]. Group 1: Price War Initiation and Industry Response - A significant price reduction campaign was launched by certain car manufacturers starting May 23, leading to a chain reaction of similar actions by other companies [4]. - The China Automotive Industry Association issued an initiative on May 31 to maintain fair competition and promote healthy industry development, which was supported by the Ministry of Industry and Information Technology [2][4]. Group 2: Structural Issues in the Automotive Industry - The price war reflects multiple structural contradictions, including the withdrawal of subsidies leading to increased costs for consumers, which has heightened market competition [5]. - As of April 2025, passenger car inventory reached 3.5 million units, with new energy vehicle inventory hitting a historical peak of 850,000 units, prompting companies to lower prices to clear stock [6]. - Rapid technological advancements are causing older models to become obsolete quickly, adding pressure on manufacturers [6]. Group 3: Financial Pressures and Market Dynamics - The financial burden on small and medium-sized enterprises has increased due to unregulated supply chain financing, leading to a pressing need for timely payments [7]. - Despite some companies showing higher profit margins than overseas counterparts, the overall market is experiencing significant challenges, with many small suppliers exiting the market [7]. Group 4: Recommendations for Industry Stakeholders - The government should enhance regulations and monitoring to prevent unfair competition and promote quality over price [12][13]. - Automotive companies are encouraged to shift from price competition to value competition, focusing on technological innovation and market differentiation [14][15]. - Suppliers should collaborate with manufacturers to establish stable pricing agreements and engage in joint technology development to alleviate cost pressures [18][22].

（原标题：中汽协发倡议，众专家亮观点（一）| 安庆衡：为制止无序价格战提3点行动建议） 编者按： 5月31日，中国汽车工业协会面向全行业发布《关于维护公平竞争秩序 促进行业健康发展的倡议》。倡 议中指出，自2025年5月23日起，有车企率先发起大幅降价活动，多家企业跟进效仿，引发新一轮"价格 战"恐慌。无序"价格战"加剧恶性竞争，将进一步挤压企业利润空间，进而影响产品质量和售后服务保 障，不仅阻碍行业自身健康发展，也将危害消费者权益，并带来安全隐患。 倡议发布后，工信部相关负责人第一时间作出公开回应，赞同并支持此倡议，同时指出车企之间"价格 战"，给汽车企业正常的生产经营带来较大冲击，危及行业健康、可持续发展。 央视新闻、新华社、人民日报、经济日报等主流央媒纷纷报道、转载。当日此事登上多个热搜平台，引 发广泛的关注与讨论。 中国汽车工业协会旗下官方媒体《汽车纵横》围绕这一事件，推出汽车行业知名专家访谈系列。本文为 该系列第1篇，受访人为中国汽车工业咨询委员会主任安庆衡。 "中国汽车工业协会面向全行业发布《关于维护公平竞争秩序 促进行业健康发展的倡议》是十分有力的 行动，各企业应该积极响应和支持。"5月31日， ...

Sales Performance - Li Auto delivered 40,856 vehicles in May, a year-on-year increase of 16.7% [1] - Xpeng delivered 33,525 vehicles, showing a remarkable year-on-year growth of 230% [4] - Leap Motor topped the list with 45,067 vehicles delivered, marking a 148% increase [2] - Xiaomi's vehicle deliveries exceeded 28,000 units in May [11] Cumulative Deliveries - Xpeng's cumulative deliveries from January to May reached 162,578 vehicles, up 293% year-on-year [4] - Li Auto's total cumulative deliveries reached 1,301,531 vehicles as of May 31, 2025 [8] New Model Launches and Achievements - Leap Motor's B10 model won 18 awards shortly after its launch and achieved over 10,000 deliveries within 16 days [2] - Xpeng's P7+ has delivered over 55,000 units in six months, while the MONA M03 has surpassed 120,000 units in nine months [8] - Avita's sales reached 12,767 units in May, a year-on-year increase of 179% [13] Industry Trends and Challenges - The China Automobile Industry Association (CAAM) highlighted the negative impact of price wars on industry profitability and called for fair competition [17] - CAAM proposed four initiatives to maintain fair competition and prevent predatory pricing practices [18] - Industry leaders expressed a desire to focus on technology and service improvements rather than price competition [19]

金十数据5月31日讯，5月31日，针对近日汽车行业掀起的新一轮价格战，中国汽车工业协会发布《关于 维护公平竞争秩序，促进行业健康发展的倡议》。同日，2025（第三届）未来汽车先行者大会拉开帷 幕。在此次大会上，业内不少人士表达了对于汽车行业价格战的看法。"去年全年降价销售的车型有200 多款，今年一季度降价车型有60多款。销量虽然在增加，但利润持续恶化。"中国贸促会汽车分会会长 王侠在此次大会上表示，"搞研发是修炼内功，而打价格战是消耗内功。"与上述观点类似，在小鹏汽车 董事长、CEO何小鹏看来，相比于卷价格，行业要卷科技、卷高度、卷质量。蔚来创始人、董事长、 CEO李斌表示，现在肯定不希望"卷"价格，除了技术还会"卷"服务。此外，广汽集团副总经理閤先庆、 华为智能汽车解决方案BUCEO靳玉志也表达了"行业不要卷价格，要卷价值"的观点。 （每经） 反对"内卷式"恶性竞争 李斌、何小鹏、閤先庆等表态"价格战" ...

日前，有消息称比亚迪山东经销商集团济南乾城汽车贸易有限公司暴雷，其在4月17日发布的《关于处 理三保服务事宜的解决方案》的公告中解释道："近两年由于比亚迪经销商政策调整，对我司的现金流 管理带来巨大压力。加之山东地区多个汽车经销商行业暴雷，当地银行融资政策保守，造成我司融资更 加困难等系列影响，导致我司门店运营资金面临巨大挑战，不能及时向车友朋友处理退还三保费用问 题，给您们带来了不便和损失，在此我们深表歉意。" 该公司表示会积极想办法按照双方签署的合同履行相应的服务内容和退款义务，争取在2025年5月底前 解决完问题。 5月28日，比亚迪集团品牌及公关处相关人士就此事回应称："网传信息不属实！过去几年，我们对经销 商的政策连续且稳定。据了解，该经销商集团由于盲目极速扩张并加杠杆运营，导致资金链出现问题。 去年底以来，该经销商集团的部分4S店，已被当地其他经销商收购。我们对该经销商集团也在进行纾 困支持，协助该经销商集团妥善处理其客户及员工的相关问题。" 实际上，近年来随着汽车行业竞争持续加剧，"价格战"不断升级，汽车经销商也面临较大生存压力。 根据中国汽车流通协会发布的《中国汽车流通行业发展报告（2024 ...

"4 月乘用车产量达 223 万辆，同比增长 11.2% ，但同期零售量仅 175 万辆，环比下降 9.4% 。其中，纯电车企库存从 2024 年初的 66 万辆，飙升至 2025 年 4 月的 85 万辆。 " 文 / 巴九灵（微信公众号：吴晓波频道） 中国汽车产业正经历一场史无前例的信任危机。 近日， 长城汽车董事长魏建军在接受媒体专访时 语出惊人： " 汽车产业里的 ' 恒大 ' 已经存在，只不过是没爆而已。 " 此言一出， 媒体纷纷猜测到底谁是 "车圈恒大"？ 投资者们带着满脑子的问号，开始用脚投票。于是，在接下来的交易日里， A 股和港股汽车股集体暴跌，比亚迪 等头部车企的 跌幅超 8 % ， 长 城跌幅超 5% ， 蔚小理等新势力 连带 宁德时代等供应链 企业 同步下挫。截至 5 月 27 日，恒生汽车指数较 日前 高点下跌 8.3% ，沪深 300 汽 车指数同期下跌 6.7% 。 点击图片▲立即收听 众所周知，恒大的崩塌，是 高杠杆扩张 与财务造假模式下的风险性爆发。 而汽车行业，部分企业同样陷入 "高负债、 烧钱换规模 " 的困局 —— 依赖融资输血维持运营，负债率飙升至 80% 以上却难盈 ...