1/3 Good Caixin article on rising pressures on auto-sector capacity expansion: "In the first six months of 2025, automakers in China produced 15.62 million vehicles and sold 15.65 million, with both figures jumping more than 10% year-on-year."

2/3 "But in factory floors, dealerships and corporate boardrooms across the country, the mood is far from celebratory. While consumers are snapping up ever-cheaper cars, the companies that build them are suffering."

3/3 The article notes that in spite of surging production and sales, total profits have fallen 12% so far in 2025, following over two years in which the industry "has been gripped by a relentless price war amid a cycle of self-destructive hyper competition, termed “involution.”"