Well, that's what happens when you build cars that no one wants or needs then take the government money, fake their registration and park them in a lot for storage (these are EV's btw and when one of them catches fire thousands of them are going to burn). Archive: https://archive.today/RmEd4 From the post: >>China’s automotive industry must seem like an unstoppable force to outsiders. Local champions like BYD (002594.SZ), opens new tab and Geely have supplanted the international brands that first made the country the world’s largest car market in 2009. They sport the most advanced battery technology. And the People’s Republic is now the largest vehicle exporter, prompting the U.S. and the European Union to impose tariffs. Despite these advantages, scores of their carmakers are heading for a crash. The ostensible problem is a vicious price war that has lasted more than two years. Rivalry has spiralled into what policymakers call “neijuan”, which translates literally to “involution”, a buzzword for a frantic, self-destructive struggle. The average price of a new car is likely to fall to around $24,000 this year for a basket of six automakers including Great Wall Motor (601633.SS), opens new tab and BYD; that’s 21% lower than 2021, according to estimates gathered by Visible Alpha. Carmakers also try to outdo one another with features like built-in hotpot cookers and multiple screens, free insurance and cheap loans.