Etiqueta: Great Wall Motor

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).

It follows a plunge of more than 9% on Monday, which was a reversal from its record high last week.

Citi estimates that BYD's price reduction may have seen a 30% to 40% spike in footfall at its dealership store on May 24 and 25, from the previous weekend.

(Bloomberg) -- BYD Co. led Chinese electric vehicle stocks lower in Hong Kong on Monday, as investors digested the auto giant’s sweeping price cuts of as much as 35% late last week.Most Read from BloombergNY Private School Pleads for Donors to Stay Open After Declaring BankruptcyUAE’s AI University Aims to Become Stanford of the GulfNYC’s War on Trash Gets a Glam SquadPacific Coast Highway to Reopen Near Malibu After January FiresShares of China’s No. 1 selling car brand tumbled as much as 8.3%,

Automakers are navigating leaps in technology, changing consumer preferences, and regulatory challenges, with China increasingly identified as a leader in intelligent driving systems.

Signs are that U.S. President Donald Trump’s 25% tariffs on auto imports are causing companies to recalibrate their strategies.

Booths of big Chinese, German and Japanese automakers are bustling at Shanghai's auto show as the industry keeps its sights on the wider global market not subject to steep U.S. tariffs on imports of cars and auto parts

With China’s growing new-vehicle market in the throes of a price war, some automakers plan to build on their success with a wide array of electrified models.

This will be the 5th time for the Nio brand to participate in the Shanghai auto show, and the first time for Onvo and Firefly to make their debut at the show.

Onvo and Firefly -- Nio's two sub-brands, Xiaomi EV and BYD Fang Cheng Bao, will be attending the Shanghai auto show for the first time.