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Maxus Reportedly Urges Suppliers to Aim for 10% Cost Cut
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Following BYD COMPANY (01211.HK)'s request for a 10% price reduction from suppliers, Maxus has also sent letters to its suppliers inviting them to join a major cost-control project that aims for a 10% cost cut given the current issue of supply exceeding demand in the automotive market, the China Securities Journal cited sources from the automotive supply chain as saying. It is reported that with the influx of new cars, Maxus believed the market's supply-demand imbalance is unlikely to be fundamentally resolved in the near term and will lead to ongoing price wars. It also expected that the competitive landscape of the automotive market will gradually become clearer by 2025 or 2026. AAStocks Financial News |
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