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TimesLIVE
28-05-2025
- Automotive
- TimesLIVE
China car market price war stokes fears of industry shake-out
An intensifying auto industry price war in China has stoked fears of a long-anticipated shake-out in the world's largest car market. Shares of China's largest carmakers sank Monday after Chinese electric vehicle giant BYD offered fresh discounts across more than a dozen models, and an executive at another car company fretted openly about the country's deepening price war. BYD's moves cut the starting price of its cheapest model, the battery-powered Seagull hatchback, to 55,800 yuan (R139,596), from nearly $10,000 (R179,779). The BYD price cuts, along with other developments, signal a potential tipping point, where weaker players can no longer sustain deepening losses from the downward spiral on prices, said Tu Le, MD of Sino Auto Insights, an advisory firm. 'This points to a bloodbath later this year,' he said. 'This could be the first domino that would finally put pressure on weaker players, startups such as Neta and Polestar, that have been teetering.' On Friday, the chair of Great Wall Motors, Wei Jianjun, warned that China's car sector was in an unhealthy state, with pricing pressure hammering the bottom lines of car companies and suppliers. He drew a parallel to Evergrande, the Chinese property developer that was liquidated last year after a major debt crisis. " Evergrande in the automobile industry exists, but it has not collapsed," he told Sina Finance in an interview. In another sign of stress in the market, Reuters reported Chinese commerce regulators are examining a growing phenomenon that has also strained the industry: sales of 'used cars' that are essentially new cars with zero miles. The tactic is seen as a way for carmakers and dealers to hit aggressive sales targets, a person familiar with the matter told Reuters. The Hong Kong-listed shares of BYD closed 8.6% lower on Monday, while Geely Auto fell 9.5%. Others, such as Nio and Leapmotor, closed between 3% and 8.5% lower. A slew of startup companies have piled into China's car market over the past decade, drawn by the burgeoning electric vehicle sector. The market has grown crowded with cut-throat price competition and most companies sustaining heavy losses. Of the 169 carmakers operating in China today, more than half have less than 0.1% market share, according to data from research firm Jato Dynamics. The crowded field is reminiscent of the US car sector in the early 20th century, when more than 100 companies vied with big players such as Ford before the industry consolidated. Le said the price war has lasted roughly three years. Car makers once enjoyed a premium for advanced features such as driver-assistance systems that take control of steering and braking in certain situations, but more have been offering these as part of the sticker price. Last week, China's state planner cautioned that competition in some industries was getting too heated, with some companies selling their cars below cost, disrupting fair competition. On Friday, Wei warned the prolonged price war was harming the automotive supply chain. Some suppliers are at risk of going under because of pressure from car companies to lower their prices, he said. "Some products have been reduced from 220,000 yuan (R548,805) to 120,000 yuan (R299,449) in the past few years,' he said, without naming companies. 'What kind of industrial products can be reduced by 100,000 yuan (R249,541) and have quality assurance?' Predictions of consolidation in China's car market have gone on for years, but the field has only grown, said Michael Dunne, a consultant who closely follows the China car industry. 'BYD's price cuts will drive out some of the weaker players,' he said.
Indianapolis Star
19-05-2025
- Sport
- Indianapolis Star
Indianapolis high school sports: Three finalists for Marion County Male Athlete of the Year
The Marion County Athletic Association will soon name its City and County Athletes of the Year, an award that dates to 1950 and grew to include girls' achievements in 1979. The awards are geared toward athletic achievement, but almost every winner over the years has exhibited impressive credentials in and out of their athletic, academic and personal areas. Generally, multi-sport athletes are given consideration over single-sport athletes, though in some cases a single-sport athlete has been so outstanding that he or she has been selected as the winner. More: 3 finalists for Marion County Female Athlete of the Year Here are the three finalists for County Male Athlete of the Year (last year's winner was Bryson Luter of Lawrence Central): Chandler, an Indiana football recruit, was a two-time Marion County Offensive Player of the Year. He caught 40 passes for 779 yards and 13 touchdowns as a junior on a 7-4 team, then caught 49 passes for 971 yards and 10 TDs as a senior on a team that was 11-0 and ranked No. 1 in the state before falling by one point in the regional to state champion Brownsburg. Chandler finished his high school football career with 111 receptions for 2,039 yards and 24 TDs. He compiled 2,696 career all-purpose yards and scored 27 touchdowns. Chandler, a team captain, was named to the Indiana Football Coaches Association All-State Top 50 as a senior and was a two-time All-MIC selection. In track and field, Chandler was sectional and regional champion in the 110-meter hurdles as a junior. He was also a member of the 4x100 meter sectional champion relay team. The 4x100 relay team is currently ranked No. 1 in the state and posted the No. 2 time in state history. Chandler is currently ranked No. 5 in the state in the 110 hurdles. At IU, Chandler plans to study sports management and marketing. His volunteer work includes working as a mentor for elementary and middle school football and as a youth football coach. Ward, a Butler football recruit, is a nine-time letterwinner in football, basketball and track and field as a three-sport athlete at Lutheran. As a football player, Ward played on state championship teams as a sophomore and junior, starting at receiver and defensive back. As a senior, Ward caught 39 passes for 752 yards and 13 TDs and had 33 tackles and three interceptions on defense and was named to the IFCA All-State team. He also returned one kickoff and one punt for a touchdown. For his high school career, Ward caught 74 passes for 1,439 yards and 27 TDs, rushed for two TDs, averaged 33.9 yards per kickoff return and 16.1 yards per punt return and totaled 32 touchdowns. On defense, Ward accumulated 111 tackles and 10 interceptions. Ward was a two-time member of the All-Marion County third team in basketball, winning a Class A state championship as a sophomore. He scored 1,148 career points. As a junior, Ward averaged 18.9 points, 3.8 assists, 3.4 rebounds and 3.2 steals per game. He was limited to 10 games as a senior due to injury. Ward took sixth place at the state meet in the high jump (school record) as a sophomore and was fifth in the long jump (school record) as a junior. He was academic all-state in both basketball and football and a member of the National Honor Society. Ward plans to pursue a career in sports medicine. Zackery, an eight-time letterwinner in football and basketball, was voted Indiana Mr. Football as a senior after catching 58 passes for 1,036 yards and 12 touchdowns as a receiver and making 62 tackles and eight interceptions as a defensive back. The Notre Dame football recruit finished his high school career with 119 receptions for 1,924 yards and 21 TDs on offense and 140 tackles, 14 interceptions, four fumble recoveries, three caused fumbles and two blocked punts on defense. Zackery averaged 22.2 yards per kickoff return and finished with 25 total touchdowns. Zackery won a Class 6A state championship in football as a junior and a Class 4A state title in basketball as a sophomore. He was named academic all-MIC four years and academic all-state two years. Zackery was also one of six recipients for the Watkins Award, presented by the National Alliance of African American Athletes to promote academic excellence among young African-American males. On the basketball court, Zackery was named an Indiana All-Star as a senior and was a Junior All-Star last season. He averaged 11.0 points, 4.3 assists and 2.1 rebounds as a junior. Zackery missed most of his senior season on the basketball court after undergoing a procedure on his thumb suffered during the football season. Zackery served many roles as a volunteer, including at the Coburn Place Domestic Violence Shelter. He plans to study marketing at Notre Dame with a goal of working on the business side in the sports industry after his playing career.
