Etiqueta: Geely

BYD Stock Dives as Dealer Inventory Overhang Prompts Heavy Discounts

BYD’s fresh price cuts have reignited China’s fierce EV price war, sending stocks of major local automakers tumbling.

Manufacturers are continuing to slash prices and offer premium features to lure in customers

BYD Co. shares extended losses in Hong Kong trading Tuesday — taking their two-day slide to more than 10% — as last week’s sweeping price cuts stoked concern of another wave of discounting in China’s cutthroat electric car market.

BYD has triggered another EV price war in China by slashing the price of several models, sending the stocks of...

The Chinese market leader BYD is offering considerable discounts on models from the Dynasty and Ocean series in its home market as part of a promotion until

SHANGHAI (Reuters) -Shares in Chinese automakers such as BYD, Nio and Geely tumbled on Monday after industry leader BYD offered fresh incentives on over 20 models and the CEO of Great Wall Motors warned that the world's largest auto industry was in an unhealthy state. The Hong Kong-listed shares of BYD Co Ltd closed 8.6% lower, while Geely Auto fell 9.5%. Chinese electric vehicle giant BYD over the weekend announced a fresh round of subsidies and incentives for more than 20 models, which reduced the starting price of its cheapest model, the pure battery-powered Seagull hatchback, to 55,800 yuan ($7,765).

BYD offers discounts of 10 to 30 per cent on 22 of its battery-powered and plug-in hybrid models.

Carmaker BYD last week offered discounts for many of its models, triggering industry concerns about another price war.