On April 11, auto stocks collectively plummeted. Rising prices, supply disruptions, production halts, and the pandemic have sent the automotive sector into a 'plummeting mode,' with some stocks experiencing losses beyond 50%, even down to below 25% of their original value.
In Hong Kong-listed auto stocks, Great Wall Motor once fell over 14%, Nio dropped more than 13%, XPeng Motors fell over 10%, Geely declined 6.5%, BYD dropped 6%, and Li Auto fell 5%.
In A-shares, BAIC BluePark New Energy fell more than 6%, JAC Motors declined by 5.7%, and both Seres and Changan Auto dropped over 5%.
The lithium battery sector also trended lower, with Ganfeng Lithium plummeting 10%, and CATL falling over 7% during trading.
Regarding individual stocks, Great Wall's decline may be related to its sales announcement. In March, vehicle sales reached 100,930 units, a year-on-year decrease of 8.86%. In Q1, cumulative sales amounted to 283,500 units, marking a 16.3% year-on-year decline. Sales declines were primarily due to the impact of the pandemic on the supply chain. Influenced by outbreaks in regions like Shanghai, Jiangsu, and Jilin, multiple parts suppliers for Great Wall Motors were affected, leading to constrained factory capacity.
Insiders pointed out that under the influence of outbreaks in areas such as Shanghai, many automakers' factories and R&D bases are close to a standstill, with no output. At the same time, logistics in the supply chain has been impacted, causing considerable obstacles in the delivery and receipt of goods and components. 'Some parts are even stuck on highways.'
On this basis, upstream and downstream suppliers suspended operations, and a large number of vehicle manufacturing plants in the Yangtze River Delta region also halted production.
Among the emerging forces, Nio was the first to announce a production halt...