BYD was not singled out by name, but a leading China automakers group warned of a "price war" after the company cut prices on nearly two dozen models "Since May 23, a certain automaker has taken the lead in launching a substantial price drop campaign... triggering a new round of 'price war' panic," the China Association of Automobile Manufacturers (CAAM) said in a statement posted to its WeChat account. The CEO of China's Great Wall Motor, whose annual revenue was roughly a quarter of BYD's, compared it to the start of China's years-long housing slump triggered by the 2021 default of property giant Evergrande.
Published at: 2025-05-31 21:10:16
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