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On July 15th, reports emerged that the “China’s Automotive Industry Group Standard for Cost Calculation Rules of Complete Vehicles,” a project organized by the China Association of Automobile Manufacturers (CAAM) and developed with contributions from 18 leading automotive companies, has been formally issued. This marks China’s first-ever unified set of cost calculation rules for complete vehicles, effectively putting an end to the longstanding issue of “inconsistent standards and a lack of benchmarking” in the industry’s cost accounting practices. The standard represents a critical step in curbing disorderly price competition and fostering high-quality development within the sector. It also stands as a significant milestone in fostering industry-wide consensus and establishing self-regulatory norms.
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