Shares of the Hong Kong-listed automobile manufacturer BYD Co Ltd (HK:1211) slumped more than 5% on Wednesday in Asia after the company reported weak vehicle sales in July.
In a press release filed on Tuesday after markets closed, the company reported that 16,567 new energy vehicles were sold in July, down 12% year-on-year. Car sales in July came in at 30,985 units, down 17% year-on-year.
Shares of the company were down 5.1% by 1:29 AM ET (05:29 GMT) at HK$42.75.
BYD, short for “Build Your Dreams,” is also listed in Shenzhen. The company is a manufacturer of automobiles, battery-powered bicycles, buses, trucks, forklifts, and rechargeable batteries.
