Etiqueta: Great Wall

China's commerce ministry will meet with industry bodies and automakers to discuss the sale of used cars that have never been driven, Reuters reported.

SHANGHAI (Reuters) -China's commerce ministry will meet industry bodies and automakers including BYD and Dongfeng Motor to discuss increasing sales of "used cars" that were never driven, a person with direct knowledge of the matter said. The meeting is set for Tuesday afternoon, the person said, speaking on condition of anonymity as details of the meeting were confidential. It comes after Great

SHANGHAI (Reuters) -China's commerce ministry will meet industry bodies and automakers including BYD and Dongfeng Motor to discuss an emerging trend of sales of "used cars" that were never driven, a person with direct knowledge of the matter said. The meeting is set for Tuesday afternoon, the person said, speaking on condition of anonymity. It follows last week's comments by Great Wall Motor's

(Bloomberg) -- BYD Co. lideró la caía de las acciones de empresas chinas de vehículos eléctricos en Hong Kong el lunes, mientras los inversionistas digerían los fuertes recortes de precios de hasta un 34% anunciados por el gigante automotriz a fines de la semana pasada.Las acciones de la marca de automóviles más vendida de China se hundieron hasta un 8,3%, mientras que sus competidores Li Auto Inc., Great Wall Motor Co. y Geely Automobile Holdings Ltd. registraron descensos superiores al 5% ante

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).

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.

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

(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%,

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 34% late last week.

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