Etiqueta: Industry
Chinese regulator gathers automakers to discuss zero-mileage used car sales, report...

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.
Exclusive-China regulator summons automakers to discuss ‘zero-mileage’ used car sales
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 Shares Extend Losses as Price Cuts Throw Spotlight on Sales

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.
Exclusive-China regulator summons automakers to discuss sale of ‘zero-mileage’ used cars
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
FirstFT: Chinese EV shares tumble as BYD sparks new price war...

Also in today’s newsletter, Singapore’s ‘scamdemic’, and Trump media group plans to raise $3bn to spend on crypto
China auto shares sink after BYD offers trade-in incentives
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: Chinese EV stocks tumble despite spike in UK demand
Shares in Chinese electric vehicle (EV) makers slumped on Monday despite surging interest from UK buyers, as industry titan BY introduced a round of new price cuts in an already bruising market battle. Hong-Kong listed BYD dropped as much as 8.25 per cent from a record high set last week, after an announcement over the [...]
Chinese Auto Stocks Fall on Fears of Fresh Price War
Carmaker BYD last week offered discounts for many of its models, triggering industry concerns about another price war.
Chinese EV shares tumble as ‘rat race’ price war heats up

Industry leader BYD announces fresh round of price cuts for its models
Shares of Chinese automakers continue to slide after fears of price...
It follows a plunge of more than 9% on Monday, which was a reversal from its record high last week.