Hong Kong Stock Market News | Auto stocks generally weaken, Tesla's first-quarter delivery volume falls short of expectations, and a price war among car companies resumes in April

Automobile stocks are generally weak. As of the time of publication, XPeng Motors-W fell by 3.14% to HKD 29.35; Li Auto-W fell by 2.12% to HKD 121.2; Huachen China fell by 1.91% to HKD 6.67. On the news front, Tesla's first-quarter delivery volume fell short of expectations, dragging down the new energy vehicle stocks. Overnight, Tesla's US stocks fell by nearly 5%. Tesla's first-quarter delivery data for 2024 showed that the company produced a total of 433,400 electric vehicles globally in the first quarter of this year, with deliveries of 386,800 vehicles, both below Wall Street's expectations. In addition, a new round of price wars in April has begun in the new energy vehicle sector, with many mainstream car companies including XPeng and FAW-Volkswagen recently announcing new discount policies. The China Association of Automobile Manufacturers previously pointed out that the new round of price wars has once again caused consumers to adopt a wait-and-see attitude, further intensifying the wait for the implementation of the trade-in policy, which is not conducive to the full release of terminal demand in the short term