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On June 1, the People's Daily released a commentary emphasizing that in response to the recent 'price wars' initiated by automakers, the China Association of Automobile Manufacturers issued an appeal for fair competition and industry health. The association expressly opposed such tactics, and the Ministry of Industry and Information Technology echoed this stance, highlighting that 'price wars' offer no winners and jeopardize future prospects. This unequivocal message and firm position have effectively curtailed the chaotic pricing environment. Automakers must resist the pressure from capital that might lead them to abandon sound business practices in favor of short-term gains in market value and share price. If they do not, the industry risks being left with hollow shells once capital withdraws, impeding its international expansion efforts.
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