As the price war among Chinese carmakers continues, Bloomberg quoted statistics from the Shanghai-based Gasgoo Research Institute as saying that China's annual auto output was as high as 55.5 million vehicles, but 2024 capacity utilization rate was only 49.5%, meaning more than half of output in China's auto industry are still idle.

Haima Automobile, which was originally invested by FAW JIEFANG(000800.SZ)  -0.060 (-0.878%)   and set up as a joint venture with Japan's Mazda Motor (7261.JP) in the early years of the company's history, had a capacity utilization rate of only 1.5% last year, according to data.

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On the other side of the market, leading companies had significantly higher capacity utilization rates, the report added. BYD COMPANY (01211.HK)  +1.300 (+1.044%)    Short selling $973.71M; Ratio 36.327%   's 2024 capacity utilization rate was 82.1%, and continued to expand domestic and overseas factories, becoming one of the most aggressive carmakers in the current price war.

Furthermore, some of the leading competitive companies are operating at nearly full capacity, thanks to strong domestic demand and large export scale, with Tesla (TSLA.US)      's Shanghai factory reaching a 96.1% capacity utilization rate last year.
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