China’s Car Dealers in Tears: Car Price Freefall, ￥190,000 Cuts Still Unsold, Turning New to Rust
As the year ends, major Chinese car brands have intensified discounts and engaged in a price war, launching full-scale price reductions. Some automakers have slashed prices by as much as 190,000 yuan, causing consumers to feel betrayed. Amid the current economic downturn, the Chinese automotive industry is believed to be facing severe sales challenges.
#chinacars #chinaauto #carprice #chinaobserver
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If a new car is rusting this quickly, its not very well made. It should take at least 8 years before the first spots form.
If the dealership is near the ocean, the rust can form much faster.
Where did you get that information about 8 years
china moment
Possibly it’s just the brake rotors, normal.
China makes junk that is for sure. Any car that sits there and not driven will rot underneath from moisture from the ground. That and these cares were made, sold and licensed to artificially boosting their GDP with plans they to be sold later as used. Almost the same thing they did with the housing market.
Meanwhile here in America, car dealerships are going thru the same thing.
Definitely worse in China. Chinese GDP per capita being much lower, most of the population can’t afford the cars they built.
@@SERGIO-cr6uy yep a you know it’s bad when you the primary battery provider and producer are in trouble with EVs.. every car manufacturer need to back out of it immediately.
New car sales are bad everywhere because people know that EVs are going to totally take over from ICE cars. They’re just waiting for EV prices to fall even further before buying one. ICE is dead.
Still half of the workforce earn less than $150 / month. @@SERGIO-cr6uy
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you…prevent inflation
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this is what happens when vehicles are marked up so high that its like buying a car that could be destroyed as soon as you drive out
Interesting. In china, the base model Camry sells for the equivalent of $28,200 in Canadian dollars. In Canada, the same car STARTS at $34,500. Why so expensive in Canada? Well, I suppose it doesn’t matter. I can’t afford a new OR used car, ice OR electric. Things are so bad in this country, I’ve been forced to keep my existing car on the road for longer than I’m comfortable with, but it’s the most economically feasible thing I can do. I recently had my older ice car repaired and maintained for a SMALL FRACTION of what even a late model used car costs here in communist Canada. A new Corolla starts at $29,000 in these parts and a used Corolla is almost as much, so I just saved myself the better part of 30 thousand dollars by not buying another car.
Because Made in Canada is not the same quality as of Made in China !
Don’t worry, EVs are getting better and cheaper. China’s BYD Seagull starts from less than CAD 14,000. BYD makes excellent cars, but not sure when they’ll be exported to Canada.
Because the body is made of thin metal the exterior and interior finishes are of synthetic materials.?
❤we shave massive supply issues in Australia with big wait times from months up to a year for some new cars.
Who in the US is not smiling by seeing it?
It’s not like EVs are not selling in the US, it’s just that much slower than they expected.
By the way, the car dealer owners have no fault in his part.
They just chose a wrong business.
The fact that you can only keep cars for 10 years is a killer on used cars
@@sandponics The point is that it doesn’t matter which manufacturers it is.
Once the electronics is done with the isolation falling apart shortening the controll units, the car is totalled after 10 years. There’s no chance to fix it in an economical way.
There’s no point in spending a lot of money on a expensive car.
I don’t know where you are located, but my 1989 Japanese made small car (with no on-board computers), is still in great condition with zero rust, and only needs a simple engine and gearbox rebuild. Try doing that with Chinese made cars.
This why BYD wanted to enter Indian market to be able to release the pressure, but Govt of India refused.
@@David-fj5lzBest flamethrowers in the world ??????????
BYD wants to avoid India like plague afterall everything from a Chinese company would be confiscate by the Indian government. Look at what happened to Xiaomi and SEPG? Indian government ordered BYD electric buses, but BYD said full payment in RMB before the orders would be accepted.
Chinese products are being boycotted in India
BYD are allegedly the best mobile flame-thrower brands. “burning up” the roads
@@David-fj5lz ya needed the fact check. it is becoz Indian are too dodgy and they want the products in first paid later when sold. This is why BYD pulled out. They want payment first before sending out the products. Cos indian government already scammiong off them charging them more taxes to pay or the goods stays in india.
A replace, not repair, economy is great until customers can’t afford to replace because EVERYTHING they have is a replace item.
If the car firms are forcing their parts/component suppliers to cut their cost, you can bet the components they sell to the car firms will be even more rubbish than they are at the moment.
I find it funny because the car sellers around me did the complete opposite and raised all their prices saying that the market is tough and they aren’t selling. lol $150k for a new f150 is ridiculous and i have zero sympathy for someone who chooses to pay that.
Yeah lets go to work by foot ?
Or buy used trash overpriced
People wait for the electric cars to get better and cheaper ?
VW ID3 in China now only 17 000 euros while VW in my country still sell same car for 45 000 euros
I wonder what is going on. I keep hearing that prices are now cheap by some people, and others like yourself. I wonder if it is just for the F 150, because you’re the second one saying it is ridiculous price now during a Tesla Cyber Truck dispute in comments sections haha..
I’m wondering what model you’re looking at though. Like is that a high end F 150 with a massive engine?
Love how the makers are demanding the suppliers to cut cost. Makes me question what the margins are, or what they would have to cut in order to still be profitable or competitive.
@@dianapennepacker6854it’s pretty simple. It’s location, location, and location. If you’re in Truck country, USA., truck pricing will still be high due to high popularity. If you’re in places like Portland, Oregon., truck prices are low because they are not popular.
@dianapennepacker6854 Compare to a couple of years ago, a 30k truck can go for 40k to 60k, so even if some people say it’s cheap realistically it’s overprice. Then, add dealer insurance, them scamming you, and vehicle packages it can be way more. My friend got a used sports car for 11k from some random guy, and my other friend bought a used 25k sports car from a dealer but with all the bs they add it’s gonna be more than 40k for the 5 years of payments.
Could also be the pollution. When I was in Kampala for example, the acid rain would eat the clear coat right off my Toyota. I am sure China’s pollution is much worse.
Tofu Dreg vehicles sell in china ?????
This is a completely valid point. Pollution, plus rain, equals acid rain, which EATS vehicles.
You’d be right Mr. Kornnugget! Back in the double otts, I saw pictures of buildings in China literally drooling, like a bad acid trip! That’s why the CCP CLOSED all industrial businesses by force, 2 weeks before the Beijing Olympics, just to let the air clear enough to be able to land planes and see, never mind for the athletes’ health! ?
This is what is known as “a race to the bottom” and it never ends well for anyone.
They are suffering massive inflation there in China, the US is also experiencing it.
When will that come to my country,here price off cars almost doubled in last few years
@@mikelbrenn153Inflation in the US is literally at a 15 year low. Don’t confuse corporate greed for inflation.
@@TheRealCatof
???
And China is leading this race… Good for them as they want to be the best in everything…
When the majority of your population can’t afford rent, what makes you think they’d be interested in a car that’s starts falling apart after it’s sold?
@@ronnelacido1711 define ‘good’
And why would they care about AI driving features? This is all nonsense the CCP is pushing to look high tech, when people are struggling with the basics.
They have a good public transport system. That’s another disincentive to buy a car.
usually they don’t even last that long before disintegrating
Baw f7 pick Up us$ 8.500 toyota hilux champ us$ 13.000
The problem is not the cars sitting in the
car lot. Consumers have no purchasing power to buy these cars. Unless these issue is addressed and resolved, those cars will continue to sit in the lot, rusting and loosing it’s value significantly.
Lower the price and some smart person will buy them and then sell them to idiots.
0:00: ? Car salesperson struggles to sell old inventory due to stagnant market.
3:52: ? The video discusses the price war and stock price declines faced by Chinese automobile manufacturers.
6:44: ? The video highlights the oversaturation and challenges in the used car market in Shihua County, China.
9:47: ? BYD and its suppliers are facing immense pressure due to slowing sales growth and demands for price reductions.
13:10: ? The impact of soaring housing prices in China on residents’ financial constraints and the automotive market.
Recapped by TammyAIchrome
you left out the part about the flux capacitors,
People get used to price cuts discretionary purchases becomes delayed. Flow of demand shrinks to a trickle and companies downsize to reflect the new income potential. Consolidation seems inevitable because small players cannot survive this, and large players need every bit of the trickle to keep ticking.
You can sell crap to someone once. Don’t expect repeat customers.
The old ,” If you can cheat someone, do it”. Philosophy doesn’t work if you want repeat future costumers.
I bought a brand new LG fridge several years ago, within 6 months it started having problems. I took the back panel off the fridge, and found paint peeling off all the internal parts that had been painted., I mean complete delamination of all the painted parts, and the now exposed metal was completely rusted out, and if you touched it, it would crumble.
Needless to say the fridge was irreparable. Thankfully the establishment that sold me the fridge took it back and upgraded me to a German made fridge, and they stopped selling Chinese made appliances.
LG is junk.
LG is a brand from South Korea
The parts were from “China”.
@@soupystevesguitarartsextra3697
Fun fakt,
In Germany we say, never buy an american car, because of the lousy quality.
Best cars are from Japan and Korea
I can be racist too based on my experience. I bought a 2014 BMW and had two recalls in the first year. Never buying German crap again
Most people literally only need one car per person at most. It’s not like car are getting any better. They kind of reached peak performance as far as utility goes.
Who can afford to buy new cars for fun every few years? I know lots of people can, but You only need one. I guess I just look at it from a poor man’s perspective.
When people don’t make a lot they don’t buy a lot. Wages need to increase and inflation needs to stop for a few years if you want to stimulate careless spending