China Auto Body Slams ‘Vicious Competition' After BYD Price Cuts
China's automobile industry association warned against 'vicious competition,' days after BYD Co. 's price cuts fueled market concerns of a discount war that would further weigh on profits of electric carmakers.
After an automaker slashed prices on May 23, many others followed suit, 'triggering a new round of 'price war' panic,' the China Association of Automobile Manufacturers said in a statement on its website Saturday, without naming any company.
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