The 2026 Beijing Auto Show featured a total of 1,451 vehicles, including 181 global debuts and 71 concept cars—both figures surpassing those of the previous edition in terms of new model density and number of concept vehicles. Nearly all automakers active in the Chinese market launched new models or updated versions during the show, with some relying solely on new color options to gain visibility. The exhibition floor was packed with visitors, and booths across the venue drew large crowds—a stark contrast to the past two editions, where foot traffic was heavily concentrated around just a few brands. As the industry-wide price war has marginally subsided under policy intervention and profit pressures, automakers have swiftly pivoted to a new competitive paradigm centered on frequent new vehicle launches. Auto shows are no longer mere display platforms; they have become critical junctures for capturing sales leads, driving conversions, and controlling the pace of media narratives. Sales personnel are now deployed upfront, and practices such as live streaming, QR code-based lead collection, and interactive traffic generation have become standard. Industry insiders reveal that the average lead-to-sale conversion rate currently stands at around 3%, pushing companies to prioritize scaling up their pool of potential leads to boost sales volume. Multiple senior executives from automakers made high-profile appearances and actively engaged with attendees. Lei Jun visited numerous booths and participated in co-marketing initiatives; Li Xiang unveiled the Li L9 Livis and discussed extended-range electric vehicle technology; Wang Chuanfu remained at BYD’s booth throughout the day, taking part in multiple brand launch events; and Zhu Jiangming focused his attention on competitor models such as the NIO ES9 and BYD Tang. Amid intense competition, automakers face immense survival pressure. Zhu Jiangming, founder of Leapmotor, stated that China’s market capacity is limited, and only companies that achieve profitability and scale can survive. Developing a new model now costs nearly RMB 1 billion; insufficient sales volumes would severely disrupt cost structures. NIO CEO William Li noted that rapid product iteration has significantly increased sunk costs in both development and marketing, with some components becoming obsolete before they are even used. Vehicle homogenization is pronounced, particularly in the “9-series” full-size SUV segment, where at least ten companies have launched similar products across different price tiers in an attempt to replicate the success of the Li L9 and Aito M9. However, analysts believe only a handful of these models will sustain monthly sales above 5,000 units over the long term. Success ultimately hinges on a combination of technological capability, cost efficiency, supply chain strength, brand equity, and marketing prowess. Competition in the industry has evolved from a battle of individual products to a contest of systemic capabilities. Quality control, sales efficiency, cost management, and the ability to integrate emerging technologies like AI have become decisive factors. Industry experts emphasize that the market has entered an elimination phase, where the gap between leading players and laggards may come down to just a few percentage points of market share. To survive in this high-investment, high-risk environment, automakers must clearly define their target customers, core user needs, and unique product value propositions.