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Just caught BYD's February numbers and the stock's still up despite the rough month. Shares climbing 4.4% in Shenzhen, hitting 93.25 yuan, and up 2.7% in Hong Kong at HK$97.50 - interesting reaction given what the sales volume report shows.
February production came in at 175,280 units for new energy vehicles, which is a pretty sharp drop from last year's 334,124. Passenger vehicle production fell to 172,525 units versus 329,211 a year back. Across the board - battery electric vehicles, plug-in hybrids, commercial vehicles - all took hits.
Sales volume tells a similar story. Monthly sales were 190,190 units compared to 322,846 last year. Passenger vehicle sales dropped to 187,782 from 318,233. Every segment down year-over-year, which is why I'm curious why the market's taking it so well. Maybe pricing action or guidance expectations? Worth watching how this trend develops over the next couple months.