On the eve of the Spring Festival, the China Association of Automobile Manufacturers (CAAM) stepped on the "dots" to provide the production and sales situation of the car market in January this year. Obviously, whether it is due to the loss of customer sources caused by the approaching Spring Festival or the fermentation of consumer wait-and-see sentiment caused by subsidy policy adjustments, the market beginning in 2026 cannot be considered clear. Given that this trend is likely to continue, the ambiguous attitude of companies towards market expectations has also made everyone feel uneasy during the time when they should be happy. I heard that during the Spring Festival, many employees within car companies did not slow down their work pace. So much so that from that moment on, we all had a feeling that the curtain of industry competition for the whole year seemed to have been secretly lifted? As the holiday draws to a close, some people are busy rushing back to the battlefield to prepare for this year's fierce battle, offering a series of promotional plans. To be honest, the car market in 2026 has basically set a new tone. The word 'roll' is not enough to describe it. Without a life and death struggle, it is impossible to give up. Do you believe that the Accord, once a benchmark for B-class cars, directly offered a price of 138800 yuan for repeat purchases of the e: PHEV version by old customers? At the beginning of the year, just as construction began, GAC Toyota immediately launched the Weilanda AIR version with an equity price of 137800 yuan and offered an 8-year ultra long term low interest financing car purchase policy? In recent years, everyone has been investing in joint venture brands: they believe that times have changed and it's time for them to give up their market share in China. The closure and merger of second tier joint venture car companies actually reflects this trend.

However, with Toyota, Volkswagen, Nissan and others releasing ALL IN "Chinese style" new energy vehicles in 2025, they are still tirelessly singing the praises of "hard and tough" and even leading to price wars today. The outcome of this war always seems uncertain. There is no doubt that this move by Honda and Toyota could only be an appetizer before this year's market shock. The price war will not stop, nor can it stop. Especially in this year's car market, there is a bit of a 'black door' trend, and the competition in the car market will not improve compared to last year. Whether it's joint venture or independent, 'mutual squeezing' is nothing, and 'self cutting' will only become the norm. The "official reduction" is just a new beginning. As early as February 11th, the China Association of Automobile Manufacturers provided data that passenger cars (including sedans, SUVs, MPVs, and crossovers), which are the core components of China's automobile consumption, had a production and sales volume of 2.062 million and 1.988 million units respectively in January, a year-on-year decrease of 4.1% and 6.8%. The next day, data from the China Association of Automobile Manufacturers also pointed out that 1.544 million new narrow passenger cars were sold domestically in January this year, a year-on-year decrease of 13.9%. Looking at this situation, some people may wonder if the vast Chinese car market can still be so sluggish in the context of the government's efforts to stimulate consumption? In fact, as long as you are in the industry, you must be aware that such data cannot reflect the severe trend of the entire market. In other words, a dismal start only sends a signal. The competitive situation in the car market in 2026 will far exceed our imagination.

All in all, for the joint venture company, after careful consideration and the use of extraordinary measures to defend the Chinese market, this year is only the second full year. To prevent the achievements of the past from falling short, there is no time to slow down and take a break. Looking back at the past year, the decline in sales of Guangqi Honda/Dongfeng Honda, Dongfeng Nissan, and North South Volkswagen is visible to everyone. Even if it is as strong as Toyota, the two joint ventures in the north and south have only managed to achieve single digit growth through significant price adjustments and the localization of new energy strategies in China. Watching Toyota Platinum 3X and Nissan N7/N6 debut at their peak, it is inappropriate to say 'joint venture is like a wooden fish's head, unable to see the situation clearly'. But an undeniable fact is that, apart from a few cars that can last forever, the reality of a significant decline in the freshness of new models is bound to put forward new requirements for all joint ventures once again. Price wars and car wars are indispensable. In the eyes of ordinary people, limited by its limited product line and the pain caused by the setback of its new energy strategy, Honda's willingness to put the Accord on the shelves for promotion is indeed helpless and astonishing. Given the significant decline in sales for several consecutive years, it seems reasonable to take this action. However, when GAC Toyota eagerly picked up the price butcher's knife and targeted the Weilanda, which had just been launched less than half a year ago, to some extent, the outside world could still read some new meanings from it. Faced with market changes, joint ventures are slow to heat up and are accustomed to doing things with a proud attitude. But the hidden killing intent of 2026 is just as clear in front of us.

As the most representative joint venture car company, does GAC Toyota feel that the price of the Venza was set too high before? Maybe. Compared to it, what we can see seems to be a response rule made in advance for the future market direction. Isn't it exciting to be able to buy a new generation of joint venture products at almost half the price of the past? "Obviously, this is not the main message that joint venture companies want to convey to consumers at this stage. Their implicit message is that from this moment on, 'joint venture' is no longer a label for product premium. Even the most influential IP will put down its dignity and speak with quality and price. Weilanda is just a pioneer in the vast array of vehicles. In March, GAC Toyota's Platinum 7 will be officially launched. Afterwards, Nissan NX8, Audi E7X, Volkswagen ID.ERA 9X/and Zhong08, which had previously been listed in the declaration catalog of the Ministry of Industry and Information Technology, will all appear one after another. A new war has quietly begun, and as a deep participant in the Chinese car market, any joint venture company that wants to stay here will do its best. The official price reduction is not the only measure to solve the survival crisis. Since we have reached the stage of either life or death, it is always right to play first. Regardless of whether using unconventional tactics may seem embarrassing to onlookers, survival is ultimately a prerequisite for survival.

The 02 market defense war is not just talk,
 there are not many stories that have happened to joint venture brands during this period.

Amidst the public outcry of "joint venture decline", the fact that "Honda's new Fit was limited to 3000 units but sold out immediately" is quite magical. But it is precisely these subtle waves that can summarize the pattern of the Chinese car market. The foundation with an annual sales volume of 30 million vehicles will not be given to any struggling car companies, closing the window for them to stand out. We are well aware of how difficult the situation of joint venture brands dancing with shackles is as China's automotive industry rapidly transitions from the fuel age to the EV era, from manufacturing transportation vehicles to producing emotional values. Of course, in the face of such irreversible trends, we have never felt that companies such as Suzuki and Renault DS、Jeep、 Mitsubishi's departure is a loss for Chinese consumers. To do things with a high attitude, one must bear the consequences. No one has reason to refute this point. In China, joint ventures seeking development also need to solve problems according to trends, and any attempt to be sophisticated is meaningless. Looking at the Chinese auto market in 2026, is it bullish or bearish? Too many people would raise such a question. But interestingly, for the individuals involved, no matter how good the market environment is, the current competition will not decrease at all due to the rise or fall of the overall market. The dividends of the times have long disappeared. The only way for surviving joint ventures to avoid repeating the same mistakes is to rely on China and provide solutions that are in line with the cognitive thinking of Chinese users. We have been saying that after all the second tier joint venture brands exit China, it is time to draw the next 'lucky one' from Mazda, Peugeot/Citroen, Hyundai/Kia, and even General Motors or Honda.

In 2025, the emergence of new cars such as Mazda EZ-60, Buick Zhijing L7, and Hyundai EO will be the last trump card for these brands to redeem themselves in order to save their last lifeline. For Chinese automobiles, these products may not have the power to revive the company, but one can feel the determination of joint ventures to wake up. This year, no one can expect to be better! "This is not the inner monologue of the joint venture struggling to survive after finding direction. Having gone through the ups and downs of development in recent years, it is not an exaggeration to say that joint venture brands in 2026 are all looking down on death. Everyone knows that after so many years of lying and winning, it is very difficult for joint ventures to rise up again and shoulder the heavy burden of market defense. But during the Spring Festival, Honda and Toyota showed the momentum of a decisive battle at the beginning of the year. Can the script that originally had the protagonist killed be eased a bit? It is highly likely that after this self depreciation, a large number of joint venture fuel vehicle models will also move towards the direction of "price reduction and configuration increase". The new new energy products led by the Platinum Intelligence 7 will not only use the two "big and small kings" of Chinese technology and large factory quality in their hands, but also truly position themselves, abandon brand baggage, and define themselves as equivalent products in the same class, opening a gap.

In China, there should be a Chinese enterprise that looks like it. Standing at the 2026 milestone, regardless of whether this year will continue the economic record of 'this year is the best year in the next 10 years', the momentum of joint venture counterattack will not disappear. Moreover, as the pace of pure electric transformation slows down, product competition returns to the brand level or enterprise system level, and it seems possible to expect joint ventures to kill the red eye. In the new round of competition, the anti involution initiative has always been used as a self healing or a psychological chicken soup to numb opponents. Joint ventures and independence, traditional and new forces, were not allies on the same front in the past, and it is even more impossible to work together now. Seeing this clearly, the self encouragement of 'white knife in, red knife out' is a true portrayal of the Chinese car market in 2026, no matter how bloody it may be.