China regulator summons automakers over rising ‘zero-mileage’ used car sales amid industry price war

AI Summary

China's commerce ministry will meet with automakers like BYD and Dongfeng Motor, industry bodies including CAAM and CADA, and used car platforms to discuss the rising sales of "zero-mileage used cars." This follows Great Wall Motor's chairman highlighting the practice of registering and plating new cars without driving them, then selling them as used, potentially to boost sales figures. The meeting aims to address this tactic amid an ongoing price war in the Chinese auto market. News of the meeting impacted automaker share prices, with BYD and Leapmotor dropping.