US EditionChinese Vehicle Makers Scale Back EV Discounts on Beijing’s Orders
8 Articles
8 Articles
The Chinese government has said enough, given the reality that the country’s automotive industry faced itself. Therefore, they have clearly explained to them that the price war on electric cars cannot threaten the economic growth of the country. The authorities of the Asian giant have demanded that car manufacturers take action and end this competition, because apparently if they did not, from Beijing have warned that action could be taken on it.
Chinese carmakers reduce discounts after Beijing's warning, but no end in sight to price war
Chinese carmakers have refrained from offering steep discounts to align with Beijing's efforts to protect a vital industry, but an end to the prolonged price war remains elusive, as the sector grapples with overcapacity and weak consumer demand for high-ticket items.
The boom in the Chinese car market ended after too large discounts were banned in June, with sales falling by 12 percent in July.
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