XPENG-W (09868) saw its stock price plummet by 5.02% during intraday trading on Tuesday, reflecting broader weakness in Hong Kong's auto sector.
The decline comes amid industry data showing subdued consumer demand for vehicles in China. November retail sales fell 8.1% year-on-year, with JPMorgan attributing the softness to depleted government subsidies and cautious consumer sentiment. The bank also projected a 30% sequential drop in new energy vehicle demand for Q1 next year, further weighing on investor confidence.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments