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Price War Escalates among CN Automakers; Profit Margins of Upstream Firms Compressed to 10% Purportedly
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Several automakers in Mainland China, including BYD COMPANY (01211.HK), Geely Galaxy, and SAIC General Motors, successively launched price reduction promotions, potentially sparking a new round of price wars in the Chinese automotive market, China Business Network reported. China Business Network reporters visited multiple suppliers and found that upstream car companies' profit margins have been continuously compressed to 10%, with payment terms extended to 120 days, as the Chinese auto market's price war escalates. The price war may lead suppliers into losses and trigger automotive quality and safety issues, the report quoted industry insiders as saying. AASTOCKS Financial News Website: www.aastocks.com |
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