BYD, Xpeng Lead Chinese EV Stock Selloff Amid Poor January Sales

Chinese automakers BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF), Xpeng Inc. (NYSE:XPEV), among others, recorded a decline in stock values on the Hong Kong exchange following poor January sales figures.

BYD Shares Fell 5.1%

BYD shares fell by over 5.1% in early trading on the Hong Kong stock exchange after it reported a sales decline of over 30% in January, Bloomberg reported on Sunday.

The world’s largest EV maker sold 210,051 units in January, which also demonstrated a 50% MoM decline in sales, amid strong overseas performance in Europe.

Xpeng, Nio Fell Almost 6%

Meanwhile, Xpeng also declined close to 6%, the report suggests, after it also reported weakened sales figures. Xpeng sold 20,011 units in January, illustrating a 34% decline. Nio Inc. (NYSE:NIO) also fell close to 6% despite a strong January sales performance as it delivered 27,182 vehicles, a 96% YoY surge.

Xiaomi’s Poor Sales

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