Kingwu Financial News | Auto stocks generally fell, Geely Auto (00175) fell by 3.58%, Leapmotor (09863) fell by 3.29%, Nio Inc (09866) fell by 2.98%, BYD Company (01211) fell by 2.69%, Great Wall Motor (02333), Guangzhou Automobile Group (02238) fell by 1.69%.

Republican presidential candidate Trump announced his victory in the 2024 presidential election in the early morning of the 6th. The market expects that after Trump wins the US presidential election, tariff issues will again affect Chinese export companies, with the auto industry being hit the hardest.

Trump previously stated that he would impose tariffs of up to 100% on all cars sold to the USA, which will heavily impact the auto industry.