Chinese cars shuffle again, who will get off the table?

According to the latest data released by the National Bureau of Statistics at the end of August, the overall revenue of the automobile manufacturing industry from January to July was 5314.84 billion yuan, a year-on-year increase of 11.8%; The total profit was 258.31 billion yuan, a year-on-year increase of 1%.
The scale has increased, but profits are still stagnant, which is equivalent to car companies "working harder, losing more", which is obviously problematic. In fact, this trend has been "hidden" for a long time.
Taking the statistics of the operating status of the "automobile manufacturing industry" by the National Bureau of Statistics from 2019 to present (after corresponding annualized rolling value processing, highlighting the trend of change) as an example, the revenue and profit of the automobile manufacturing industry continue to show the opposite trend of change. Over a period of three years (compared to July 2019 and July 2023), operating revenue increased by 23%, while profit only increased by 0.6%, resulting in a significant 23% decline in profit margin.
If we further strip away the automotive parts industry, which is more prosperous according to the National Bureau of Statistics, the remaining automotive vehicle segment will be even more miserable.