Overseas media: Intense price war breaks out in China's auto industry, triggering official warnings.
The Ministry of Industry and Information Technology of China (MIIT), Xinhua News Agency, People's Daily, and automobile industry associations have collectively spoken out to criticize the recent significant price cuts by car manufacturers, deeming such "self-destructive" vicious competition as obstructing long-term investment in research and development. This behavior damages product quality, performance, and services, affecting the sustainable development of the industry.
The MIIT pointed out that there are no winners or futures in price wars, and promised to strengthen supervision. The People's Daily commented that the current automotive industry is "unhealthy," with overcapacity leading to continuously declining profit margins.
Original article: https://www.toutiao.com/article/1833921932175364/
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