BYD is drawing the most fire after it announced price cuts in late May for many of its models. Some of the discounts are as steep as 34%. Its cheapest car, the Seagull mini hatchback, now costs only about $7,700, down from about $10,000. The intense price war has led high-profile auto executives to sound the alarm — with the head of Great Wall Motor calling the industry "unhealthy." In an interview with Chinese news outlet Sina Finance on May 23, Great Wall Motor Chairman Wei Jianjun drew parallels to China's moribund property sector and its now defunct poster child, developer Evergrande. "An 'Evergrande-like' crisis already exists in the automotive industry," he said. "It just hasn't erupted yet." A government-backed industry group has also called on companies not to "dump" vehicles below the cost of production. In a statement, the China Association of Automobile Manufacturers took a veiled swipe at BYD.