The Zhitong Finance App learned that the decline in auto stocks widened in the afternoon. As of press release, NIO-SW (09866) fell 10.3% to HK$60.5; Xiaopeng Motor-W (09868) fell 8.83% to HK$31.5; Great Wall Motor (02333) fell 6.64% to HK$8.43; and Wuling Motors (00305) fell 2.74% to HK$0.71.

According to the news, CPC released the latest preliminary estimates of retail sales. The passenger car retail market in the narrow sense is expected to be around 1.73 million units in May, up 6.6% month-on-month and 27.7% year-on-year. The CPC said that the high level of concessions from manufacturers in May was compounded by local promotional fee policies, and the popularity of the car market at the beginning of the month was significantly superior to the same period in previous years, but since some consumer demand was released early at the end of April and the beginning of May, passenger flow and orders all declined to varying degrees after the May Day holiday, making it difficult to maintain the high increase at the beginning of the month.

Furthermore, Great Wall Motor's report on BYD has aroused great attention and controversy within and outside the industry. Some automotive industry analysts pointed out that at present, with the rapid development of new energy and intelligence in automobiles, the industry is facing comprehensive competition and upgrading, and there is indeed a conflict between enterprises and enterprises.