Recently, Guangzhou Automobile Group announced its May production and sales report. Among them, Guangzhou Automobile Group's vehicle sales for the month were 156,500 units, a significant year-on-year decrease of 25.33%. It is worth noting that the sales volume of new energy vehicles was 37,500 units, which also suffered a downward trend, down 25.51% year-on-year. From January to May this year, GAC’s cumulative sales were 699,500 vehicles, a year-on-year decrease of 24.51%. Among them, the production and sales of GAC Toyota and GAC Honda in May were 32,000 and 31,000 vehicles respectively, a year-on-year decrease of 53.66% and 41.31% respectively. It is worth mentioning that Zeng Qinghong, chairman of GAC Group, has been publicly opposed to price wars. At this year's Chongqing Automobile Forum, Zeng Qinghong publicly criticized the endless "price war" of auto companies and said that GAC also laid off many employees in the context of involution.