Chinese EV Stocks Suffer As Year-End Sales Lag
Major Chinese electric vehicle (EV) makers have seen their stocks decline sharply in Hong Kong as year-end sales momentum wanes, with many companies reporting weaker-than-expected deliveries despite government subsidies.Key TakeawaysNio Inc and Xpeng both fell over 1 percent on December 4th, extending their multi-day slump.Their sales growth slowed compared to last year but still outpaced the broader market's performance.BYD saw a minor decline of about 2% in November despite leading the industry with its diverse range of models.Nio delivered 36,275 vehicles in November, marking their second-highest monthly total ever. However, this represents only a 10.2 percent drop from October's figures and falls short of expectations as subsidies taper off.Xpeng followed suit with deliveries totaling ...