Etiqueta: Industry

BYD has shocked the new car marketplace in China by slashing prices on its cars by up to 34%. Is it playing the long game?

A ruthless discount blitz from BYD is shaking the foundations of China's auto industry and threatening mass consolidation

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

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

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.

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

Also in today’s newsletter, Singapore’s ‘scamdemic’, and Trump media group plans to raise $3bn to spend on crypto