Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    miraDry® erhält EU MDR-Zertifizierung und erweitert Indikationen zur Schweiß-, Geruchs- und Haarreduzierung in ganz Europa

    Yankees Turn No-Hitter Into Extra Innings Walk-Off Victory

    Kieferorthopäden aus aller Welt treffen sich in Europa, um den Durchbruch von Smartee bei der Kieferreposition zu erkunden

    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram Pinterest VKontakte
    Sg Latest NewsSg Latest News
    • Home
    • Politics
    • Business
    • Technology
    • Entertainment
    • Health
    • Sports
    Sg Latest NewsSg Latest News
    Home»Business»BYD shares extend losses as price cuts throw spotlight on sales
    Business

    BYD shares extend losses as price cuts throw spotlight on sales

    AdminBy AdminNo Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    [HONG KONG] BYD shares extended losses in Hong Kong trading on Tuesday (May 27) – taking their two-day slide to more than 10 per cent – as last week’s sweeping price cuts stoked concern of another wave of discounting in China’s cutthroat electric car market.

    The stock fell as much as 4 per cent in morning trading, following Monday’s 8.6 per cent drop. The sell-off was sparked after the electric vehicle giant announced cuts of as much as 34 per cent on 22 electric and plug-in hybrid models in China until the end of June.

    The move came after the company last month posted its slowest year-on-year growth in vehicle deliveries in more than four years. While April sales rose 21 per cent from a year earlier, that was the smallest monthly gain since August 2020, except for a drop in deliveries in February last year, when the Chinese New Year holiday saw nationwide industry sales contract 22 per cent.

    Rival Geely Automobile Holdings’s compact hatchback Xingyuan last month became the top-selling model in China, overtaking BYD’s popular Seagull, according to data from the China Automotive Technology and Research Center.

    Morgan Stanley analysts said the price competition sparked by BYD is likely to drag on, with ripple effects into the second half of the year.

    The steep price cuts have taken some of the gloss off what has so far been a stellar year for BYD. The stock hit a record high last week, it posted its best month of sales in China and outsold Tesla in Europe for the first time in April, and raised HK$43.5 billion (S$5.5 billion) in a Hong Kong share sale in March.

    BT in your inbox
    Newsletter Img

    Start and end each day with the latest news stories and analyses delivered straight to your inbox.

    Before this week’s slide, BYD Hong Kong-traded shares had surged almost 75 per cent this year, and with a market value equal to around US$158 billion, is bigger than Ford Motor, General Motors and Volkswagen combined.

    On the technology front, it has unveiled a lineup of cars it says can charge in five minutes, and started to make its God’s Eye advanced driver-assistance system standard in vehicles priced from 100,000 yuan (S$13,900) and include it in several lower-cost models such as the popular Seagull hatchback.

    Some of the recently discounted models include those equipped with God’s Eye.

    Investors will get more insight into how BYD is tracking when monthly sales for May are released on Sunday. BLOOMBERG

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Admin
    • Website

    Related Posts

    Singapore, Cambodia solidify joint efforts in energy, climate finance, agri-trade

    4 dead, 38 missing after ferry sinks on way to Indonesia’s Bali

    Thailand set for another acting PM after cabinet reshuffle

    Asia: Stocks mixed as traders shrug at US-Vietnam trade deal

    Add A Comment
    Leave A Reply Cancel Reply

    Editors Picks

    Microsoft’s Singapore office neither confirms nor denies local layoffs following global job cuts announcement

    Google reveals “material 3 expressive” design – Research Snipers

    Trump’s fast-tracked deal for a copper mine heightens existential fight for Apache

    Top Reviews
    9.1

    Review: Mi 10 Mobile with Qualcomm Snapdragon 870 Mobile Platform

    By Admin
    8.9

    Comparison of Mobile Phone Providers: 4G Connectivity & Speed

    By Admin
    8.9

    Which LED Lights for Nail Salon Safe? Comparison of Major Brands

    By Admin
    Sg Latest News
    Facebook X (Twitter) Instagram Pinterest Vimeo YouTube
    • Get In Touch
    © 2025 SglatestNews. All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.