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On May 27, a string of automakers, including BYD, Geely Galaxy, and SAIC-GM, rolled out price reduction promotions, capturing widespread market attention and hinting at a potential new wave of price wars in China's auto market. Recent investigative reporting has unveiled that as automakers intensify their competitive pricing strategies, the profit margins of upstream suppliers have been drastically squeezed to below 10%, with payment terms stretched to as long as 120 days. This situation has sparked concern among industry insiders, who warn that the ongoing price wars could push suppliers into unprofitable territories, thereby posing potential risks to vehicle quality and safety. The market is now keenly observing the extensive ramifications of these price wars on the auto industry's supply chain.
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