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China issues new rules to curb auto price war after January passenger car sales drop 20%
China moved on Thursday to curb a fierce price war among automakers that has caused massive losses for the industry, after passenger car sales dropped nearly 20 per cent 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 ban 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 ... (full story)
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China moved on 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 ...
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