Reported 7 months ago
China's consumer price index (CPI) for May posted a lower-than-expected annual growth rate of 0.3%, mainly due to the ongoing price war in the new energy vehicle market, resulting in a decline in overall car prices. This has been cited as the primary factor keeping the CPI at a low level. The significant price competition in the automotive industry has led to a considerable drop in prices, with over 60 electric car models reducing their prices from January to May. However, industry insiders suggest that the price war is easing in June, and the market may return to normal promotional activities rather than drastic price cuts in the future.
Source: YAHOO