1. Reuters, via The Standard (Hong Kong): https://www.thestandard.com.hk/innovation/article/305397/Local-Chinese-governments-promote-zero-mileage-used-car-exports-inflating-sales-growth-figures
2. CNBC: https://www.cnbc.com/2025/06/05/involution-or-evolution-china-wants-to-stop-the-ev-price-war-but-analysts-are-doubtful.html
3. Yicai (第一财经), citing China Automobile Dealers Association data: https://www.yicai.com/news/102912721.html
4. People's Daily commentary, via Reuters: https://finance.yahoo.com/news/chinese-state-media-calls-crackdown-065200831.html
5. South China Morning Post: https://www.scmp.com/business/china-evs/article/3311834/byds-price-cuts-shock-chinas-ev-market-spark-fears-price-war-escalation
6. China Passenger Car Association (Cui Dongshu), via CnEVPost: https://cnevpost.com/2025/01/06/china-auto-market-227-models-price-cuts-2024/
7. National Bureau of Statistics, via Gasgoo: https://autonews.gasgoo.com/articles/news/china-auto-industry-profit-margin-drops-to-38-in-h1-2026-profit-down-20-yoy-2082122015128387585
8. China Passenger Car Association, via CarNewsChina: https://carnewschina.com/2025/12/27/profit-margin-of-chinas-auto-industry-was-4-4-2000-usd-per-vehicle/
9. Ministry of Industry and Information Technology, via Xinhua: https://english.news.cn/20250531/5a9751f454384b05a2dd2cc7c4f3bbd8/c.html
10. State Administration for Market Regulation, and Li Yanwei of the China Automobile Dealers Association, via Associated Press: https://finance.yahoo.com/news/china-issues-rules-curb-auto-091116303.html
11. Bloomberg data, via Automotive World: https://www.automotiveworld.com/news/chinas-ev-price-war-rages-on-as-byd-sets-record-discounts/
12. Xiao Feng, Citic CLSA, and China Passenger Car Association, via CNBC: https://www.cnbc.com/2026/07/20/china-automotive-car-worst-year-sales-fall-20percent.html
13. Wei Jianjun, Great Wall Motor, to Sina Finance, via CNBC: https://www.cnbc.com/2025/05/27/china-auto-market-price-war-stokes-fears-of-industry-shake-out.html
14. Caixin Global: https://www.caixinglobal.com/2025-06-10/caixin-explains-chinese-dealerships-pass-off-new-cars-as-used-amid-auto-glut-102329025.html
15. Zeekr statement, via TipRanks citing Reuters: https://www.tipranks.com/news/the-fly/zeekr-states-zero-mileage-used-cars-were-not-sold-registered-reuters-says-thefly
16. Reuters, via CNBC: https://www.cnbc.com/2025/07/21/china-ev-brands-zeekr-neta-inflated-car-sales-using-insurance-scheme.html
17. BYD Q1 2026 results and China's NEV purchase tax change, via CnEVPost: https://cnevpost.com/2026/04/28/byd-reports-drop-in-q1-2026-net-profit/
18. Wang Chuanfu, BYD, via South China Morning Post: https://www.scmp.com/business/china-business/article/3215269/chinese-ev-market-consolidation-stage-byd-chief-says-some-players-being-knocked-out-others-grabbing
19. Wang Chuanfu, BYD 2025 earnings report, via CNBC: https://www.cnbc.com/2026/03/27/chinas-byd-sees-first-profit-drop-since-2021.html
20. He Xiaopeng, Xpeng, via Business Insider: https://www.businessinsider.com/xpeng-ceo-2025-2027-kick-off-ev-industry-elimination-round-2025-1