China's EV Price Wars Hit Auto Profits, Smaller Players Struggle as Margins Shrink
China's EV Price Wars Hit Auto Profits, Smaller Players Struggle as Margins Shrink
Acute competition posed a bummer for China's automotive industry profit margins in 2024, taking a toll on weaker electric vehicle makers like Baidu Inc (NASDAQ:BIDU) and Geely Automobile Holdings (OTC:GELYF) (OTC:GELYY)-backed Jiyue and Human Horizons Group Inc.
激烈的競爭對中國汽車行業的利潤率造成了困擾，影響了像百度(臨時代碼)(納斯達克:BIDU)和吉利汽車控股(場外交易:GELYF)(場外交易:GELYY)支持的極悅及人機交互集團等較弱的電動車製造商。
Car industry margins in China averaged 4.4% from January through November, down from 5.0% in 2023, Bloomberg cited data from China's Passenger Car Association on Friday.
彭博社引用中國乘用車協會的數據，報告顯示中國汽車行業在1月至11月期間的利潤率平均爲4.4%，低於2023年的5.0%。
The margins still trailed the average profit margin of 6.1% of downstream industrial enterprises, Bloomberg cites PCA.
利潤率仍低於下游工業企業的平均利潤率6.1%，彭博社引用PCA的說法。
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The EV industry revenue for the first 11 months of 2024 rose by 3% to 9.5 trillion yuan ($1.3 trillion), Bloomberg cites PCA. Profits declined by 7.3% to 413.2 billion yuan.
2024年前11個月電動車行業的營業收入增長了3%，達到9.5萬億人民幣（1.3萬億美元），彭博社引用PCA的報告。利潤下降了7.3%，降至4132億人民幣。
Bloomberg cites Cui Dongshu, the PCA secretary general, as saying that the industry must slash costs and boost efficiency due to the dwindling margins.
彭博社引用PCA秘書長崔東樹的話稱，行業必須削減成本，並提升效率以應對利潤率的降低。
China's car market, especially its EV sector, has experienced intense rivalry for at least the last two years, prompting a price war.
中國的汽車市場，尤其是電動車板塊，在過去至少兩年內經歷了激烈的競爭，促使了一場價格戰。
BYD Co's (OTC:BYDDF) (OTC:BYDDY) consolidation wiped out the smaller players.
比亞迪（場外交易:BYDDF）（場外交易:BYDDY）的整合使得較小的競爭者被淘汰。
Reportedly, China is on track to lead global EV adoption by 2025, with electric vehicle sales projected to surpass traditional cars for the first time. The country will likely sell over 12 million EVs in 2025, doubling 2022 figures, while traditional car sales may drop below 11 million.
據報道，中國有望在2025年前領先全球電動車的普及，預計電動車銷量將首次超過傳統汽車。該國在2025年可能會出售超過1200萬輛電動車，是2022年銷量的兩倍，而傳統汽車銷量可能會降至1100萬以下。
China's EV industry progress stems from advancements in domestic technology, securing a global supply chain for lithium and cobalt, and leveraging its large-scale manufacturing to make EVs more affordable for consumers.
中國的電動車行業進展源於國內科技的進步，確保鋰礦和鈷的全球供應鏈，以及利用其大規模製造業使電動車對消費者更加實惠。
Also this week, reports indicated China eying 3 trillion yuan ($411 billion) in special treasury bonds in 2025 to drive consumption through subsidies, equipment upgrades, funding investments in electric vehicle sectors, and more.
本週的另一個報道指出，中國計劃在2025年發行3萬億人民幣（合4110億美金）的特別國債，通過補貼、設備升級、對電動車板塊的投資融資等方式推動消費。
Price Actions: At the last check on Friday, NIO is down 0.43% at $4.68. LI is up 1.70%, XPEV is down 3.70%, and ZK is up 0.46%.
價格動態：根據上週五的最新情況，蔚來(NIO)下跌0.43%，報4.68美元；理想汽車(LI)上漲1.70%；小鵬汽車(XPEV)下跌3.70%；而Zk上漲0.46%。
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譯文內容由第三人軟體翻譯。
