HONG KONG (AP) China moved Thursday to curb a fierce price war among automakers that has caused massive losses for the industry, after passenger car sales dropped nearly 20% in January from the year before, the fastest pace in almost two years.
The State Administration for Market Regulation released guidelines for manufacturers, dealers and parts suppliers aimed at preventing a race-to-the-bottom price war.
They forbid automakers from setting prices below the cost of production to squeeze out competitors or monopolize the market. Violators may face significant legal risks, the regulator warned.
The rules also target deceptive pricing strategies and price fixing between parts suppliers and auto manufacturers.
Passenger car sales in China fell 19.5% in January from a year earlier, according to the China Association of Automobile Manufacturers. That was the biggest percentage drop since February 2024.
The 1.4 million passenger cars sold in January compared with 2.2 million units sold in December, CAAM said.
Weakening demand reflects a reluctance of cash-strapped buyers to splash out on big purchases . Sales also have suffered from a cut in tax exemptions for EV purchases, coupled with uncertainties over whether trade-in subsidies for EV purchases will continue after some regions phased them out , auto analysts said.
The aggressive price war in Chinas auto sector has caused an estimated loss of 471 billion yuan ($68 billion) in output value across the whole industry in the past three years, Li Yanwei, a member of the China Automobile Dealers Association, wrote recently.
Analysts expect domestic demand to dip this year. S&P has forecast sales of light vehicles, including passenger cars, in China will fall up to 3% in 2026.
However, Chinese automakers are gaining ground in global markets. Chinas exports of passenger cars jumped 49% year-on-year to 589,000 in January.
We dont foresee a loss in momentum for the Chinese auto industry this year, said Claire Yuan, director of corporate ratings for China autos at S&P Global Ratings.
Chinese automakers like BYD which overtook Tesla as the worlds top electric vehicle maker are targeting markets in Europe and Latin America as they confront intense competition in both prices and lineups at home due to oversupply.
Analysts at Citi expect Chinas car exports could jump 19% this year driven by exports of electric vehicles and plug-in hybrids.
Last month, Canada agreed to cut its hefty 100% tariff on China-made EV imports in a move welcomed by Chinese carmakers. China also recently reached a deal with the European Union that could allow more of its EVs to enter the European market.
BYD, Chinas largest carmaker, targets around 1.3 million of overseas car sales in 2026, up from the 1.05 million last year. Other major Chinese automakers have also set ambitious sales targets with a focus on exports.
香港（美联社）——中国周四采取措施遏制汽车制造商之间的激烈价格战，这场价格战已给行业造成巨大损失。此前，1月份乘用车销量同比下降近20%，降幅为近两年来最快。
国家市场监督管理总局发布针对制造商、经销商及零部件供应商的指导方针，旨在防止恶性价格战。
监管机构警告称，禁止汽车制造商将价格设定在生产成本以下以“排挤竞争对手或垄断市场”，违规者可能面临“重大法律风险”。
新规还针对汽车零部件供应商与制造商之间的欺诈性定价策略和价格垄断行为。
中国汽车工业协会数据显示，1月中国乘用车销量同比下降19.5%，创下自2024年2月以来最大百分比降幅。
中国汽车工业协会（CAAM）表示，1月份乘用车销量为140万辆，而12月份的销量为220万辆。
汽车分析师表示，需求疲软反映出资金紧张的买家不愿进行大额消费。此外，电动汽车购置税减免政策的缩减，以及部分地区逐步取消以旧换新补贴后该政策是否延续的不确定性，也对销量造成了影响。
中国汽车流通协会会员李燕伟近日撰文指出，过去三年间，中国汽车行业激烈的价格战已导致全行业产值损失约4710亿元人民币（合680亿美元）。
分析师预计今年国内需求将有所下降。标普全球预测，包括乘用车在内的中国轻型汽车销量到2026年可能下滑高达3%。
然而，中国汽车制造商正在全球市场崭露头角。今年1月，中国乘用车出口量同比增长49%，达到58.9万辆。
标普全球评级中国汽车企业评级总监袁克莱尔表示：“我们预计今年中国汽车行业的发展势头不会减弱。”
比亚迪等中国汽车制造商——它们已超越特斯拉成为全球最大的电动汽车生产商——正将目光投向欧洲和拉丁美洲市场，原因是国内因供应过剩而在价格和产品阵容方面面临激烈竞争。
花旗银行分析师预测，受电动汽车和插电式混合动力汽车出口的推动，今年中国汽车出口量可能激增19%。
上月，加拿大同意削减对中国产电动汽车征收的高额关税，此举受到中国汽车制造商的欢迎。中国近期还与欧盟达成协议，可能允许更多中国电动汽车进入欧洲市场。
中国最大的汽车制造商比亚迪计划在2026年实现约130万辆的海外汽车销量，较去年的105万辆有所增长。其他中国主要汽车制造商也制定了雄心勃勃的销售目标，重点放在出口业务上。
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