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The automotive market's trend of price reductions persisted in 2026, with nearly 70 car models, especially new energy vehicle models, seeing significant price cuts, averaging a reduction of RMB 38,000. Over the past three years, the relentless price war has squeezed the profit margins of car companies to the point where "incurring losses for publicity" has become a widespread practice. At the 2026 High-Level Forum on the Development of Intelligent Electric Vehicles, several executives remarked that it is increasingly challenging for automakers to generate profits solely from vehicle sales. The industry is now mired in a conundrum where "sales volume rises without a corresponding increase in revenue, and revenue grows without a boost in profits."
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