With Only 3,000 Yuan Profit Per Car, Automakers Need to Think Like Product Managers

Core Judgment: A 1.5% net margin isn't a cyclical bottom, but a structural one. The problem automakers face now isn't selling too few units, but rather their product value definitions being torn apart by the dual pressures of intelligence and batteries, leading to runaway cost structures. This is essentially the same as the vicious subsidy wars in retail back in the day where companies 'lost money just for the sake of noise.'