A fresh wave of steep price cuts by BYD sent shockwaves through China’s auto sector, raising fears of escalating price wars and causing the automaker’s stocks to tumble.
At the same time, an industry leader’s warning about the emergence of an “Evergrande” within China’s auto industry—referencing the once-dominant, now debt-ridden property developer that is facing court-ordered liquidation—quickly went viral on Chinese social media, amplifying concerns about financial instability.
