· Foreign companies open price wars and Chinese local brands may encounter shocks

According to overseas media reports, according to the leaders of the China Association of Automobile Manufacturers, local brands may once again face the dilemma of falling market share, as foreign automakers have begun to increase sales through price competition.
Dong Yang, secretary general of the China Association of Automobile Manufacturers, commented on the website that the sales incentives and subsidies implemented by foreign automakers in the Chinese market will affect the sales of local auto brands in the coming months. He added that the industry integration proposed by FCA CEO Sergio Marchionne is worth learning, because there are too many local brands in China, so they should focus on cooperation and mergers and acquisitions instead of blindly increasing production. “Most local automakers have been facing more and more difficulties, and a few of them still have blind expansions in violation of market rules,” Dong Yang said. “The price wars that foreign companies will launch through joint ventures will Quickly impact local brands.
China, the world's largest auto market, is currently experiencing a slowdown in sales growth due to shrinking economic growth, and some cities have begun to restrict car purchases, while the fast-growing stock market has also separated large amounts of money from the auto industry. According to the China Association of Automobile Manufacturers, the development of Chinese local automakers during this period benefited from the boom of economical SUVs and crossovers, and the sales growth of the entire passenger car market has dropped to a record low in May this year. However, Dong Yang believes that there is still room for development in the Chinese market. At present, there are 150 million vehicles in China, and he expects to reach 400 million units.

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