Baolong Technology Chairman Zhang Zuqiu predicts the auto market in 2024

Zhang Zuqiu, chairman and president of Baolong Technology, predicts that the total volume of the auto market will not change much in 2024, but competition will be more intense. He believes that although the predictions at the beginning of the year have been basically verified, the actual intensity of competition has even exceeded expectations. As there is almost no incremental growth in the industry, overcapacity, oversupply of brands and oversupply of models have led to fierce price wars. Zhang Zuqiu expects that this situation will not change in the next two to three years, and companies need to make long-term preparations for this.