Cover Story: Chinese Carmakers Enter 2024 Fighting Price War, Heightened EV Competition

China’s automakers -- on track for record sales in 2023 – have little to celebrate in the New Year as a continuing price war squeezes profitability and increased competition in the market for new energy vehicles (NEV) overhangs a key segment for growth.

Domestic and export deliveries jumped 10.8% to 26.94 million units through November. The China Association of Automobile Manufacturers expects promotions in December to push full-year sales beyond 30 million vehicles.