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20+ BYD 4S Dealers in Shandong Halt Operations: Report
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The price war in China's auto market is intensifying. According to Chinese media, the financial crisis at Jinan Qiancheng, a core BYD COMPANY (01211.HK) (002594.SZ) dealer in Shandong Province, continues to escalate. Meanwhile, at least 20 4S dealers in Jinan, Weifang, Tai'an, Dezhou, and other locations have been left deserted or have suspended operations due to financing difficulties. The report also mentioned that consumers' prepaid three-year joint insurance fees, maintenance packages, car film services, chassis protection plates, and promised lifetime maintenance and paint services can no longer be honored, sparking widespread consumer rights actions and raising questions about BYD COMPANY's responsibility for brand oversight. In response to rumors of its dealers' financial troubles, BYD dismissed them as untrue. It emphasized that its policies toward dealers have been consistent and stable in recent years, and instead blamed the situation on these dealers' blind and rapid expansion and leveraged operations, which led to their financial difficulties. AAStocks Financial News |
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