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1 week agoChina rushes to stem price war in autos as passenger car sales drop nearly 20% in January
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 preventing a race-to-the-bottom price war.
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