Etiqueta: Hong Kong

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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

(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).

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.

Industry leader BYD announces fresh round of price cuts for its models

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

BYD shares dropped 8.5% after announcing price cuts up to 35%.