#price-war

#price-war

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.

Right now, there is an incredible price war going on,

The intense rivalry among the three tech giants has showered Chinese consumers with dirt-cheap indulgences - bubble tea and lattes for as little as 1 Chinese yuan, or $0.14, and meals dropped at their door in under 30 minutes. It's not just food. As growth in China's traditional e-commerce slows, companies are racing into the new fast-delivery segment. "It can be flowers, it can be medications, it can be toiletries," Jason Yu, the managing director for Greater China at consumer insights company Kantar Worldpanel, told Business Insider.