BYD Shares Plunge Amid Steep Sales Decline and Intensifying Competition
BYD stock cratered 6.9% in Hong Kong trading, hitting a 12-month low after reporting a 30% year-over-year sales collapse. The Chinese automaker delivered just 210,051 vehicles globally in January - its fifth consecutive monthly decline and worst January performance since 2020.
Domestic rivals Geely and Leapmotor are gaining ground, with the latter posting 27% growth as BYD loses market share in China's budget segment. Overseas sales now represent nearly half of total volume, jumping 43% as the company pursues ambitious international expansion targets.
The selloff reflects broader pressures in China's auto market, where revised subsidies favor premium vehicles and overall demand stagnates. Other domestic manufacturers including Geely, Xiaomi, and Xpeng saw shares decline 1.2-6.8% in sympathy.
