Etiqueta: Great Wall Motor

The figures come on the heels of China’s top industry regulator promising to strengthen efforts to rein in “involution-style” competition in the country’s auto industry.

Chairman of Great Wall Motor says EV price war, profitability problem could nudge industry into a liquidity crunch.

A top industry group had a stern rebuke Saturday for automakers fuelling a "price war", a week after Chinese EV giant BYD announced sweeping trade-in discounts, with multiple competitors following suit.Days later, Stellantis-backed Chinese EV startup Leapmotor announced similar discounts on two "entry-level" models through June 8.

BEIJING (Reuters) - Tensions between two of China's largest automakers erupted into the open on Friday when a BYD executive slammed as alarmist comments by the chief of Great Wall Motor that called the industry "unhealthy". Shares in Chinese automakers such as BYD, Nio and XPeng tumbled this week after the chairman of Great Wall Motor, Wei Jianjun, worried openly about China's deepening price war

BYD's brand chief refuted recent allegations based on metrics including debt ratio, total debt, and payment cycles to suppliers.

BYD's aggressive price cuts are rattling China's EV giants. Margin squeeze and fierce competition threaten the sector's future.

China’s electric vehicle (EV) giant BYD Co. has ignited a fresh wave of competition in the world’s largest auto market by slashing prices by up to 34% on 22 electric and plug-in hybrid models.

BYD Stock Dives as Dealer Inventory Overhang Prompts Heavy Discounts

Manufacturers are continuing to slash prices and offer premium features to lure in customers

China's commerce ministry will meet with industry bodies and automakers to discuss the sale of used cars that have never been driven, Reuters reported.