Backed by Beijing, China's Auto Association Pushes to End Destructive Price War

China's auto association is sounding the alarm over a "cutthroat" price war that is eroding profitability and jeopardizing the industry's long-term health, after a new round of price reductions. The China Association of Automobile Manufacturers (CAAM) has publicly called for an end to unfair competition, a stance strongly supported by the government, which has vowed to intervene and regulate the market.