Tesla, Other Automakers Retract Pledge To Curb 'Abnormal Pricing' In China Within 2 Days — Here's Why
Portfolio Pulse from Anan Ashraf
The pledge made by 16 automakers, including Tesla Inc., BYD Co, Li Auto, and Nio, to refrain from unsettling the China market with 'abnormal prices' has been retracted less than two days after its signing. The China Association of Auto Manufacturers, which organized the pledge, stated that the clause was inappropriate and violated the spirit of the anti-monopoly law. The association urged companies to set their own prices and compete fairly.
July 08, 2023 | 9:44 am
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NEGATIVE IMPACT
BYD Co retracted its pledge to refrain from 'abnormal pricing' in China. This could potentially lead to increased competition and price wars.
BYD Co's retraction of the pledge could lead to increased competition in the Chinese market, potentially resulting in price wars. This could negatively impact BYD Co's profitability in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Li Auto retracted its pledge to refrain from 'abnormal pricing' in China. This could potentially lead to increased competition and price wars.
Li Auto's retraction of the pledge could lead to increased competition in the Chinese market, potentially resulting in price wars. This could negatively impact Li Auto's profitability in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nio retracted its pledge to refrain from 'abnormal pricing' in China. This could potentially lead to increased competition and price wars.
Nio's retraction of the pledge could lead to increased competition in the Chinese market, potentially resulting in price wars. This could negatively impact Nio's profitability in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tesla retracted its pledge to refrain from 'abnormal pricing' in China. This could potentially lead to increased competition and price wars.
Tesla's retraction of the pledge could lead to increased competition in the Chinese market, potentially resulting in price wars. This could negatively impact Tesla's profitability in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80