Just noticed BYD shares are actually up in both Shenzhen and Hong Kong despite February's production and sales volume dropping sharply. Shenzhen up 4.4% to 93.25 yuan, Hong Kong up 2.7% to HK$97.50. Pretty interesting move given the numbers.



February NEV production hit 175,280 units, down from 334,124 a year ago. Sales volume came in at 190,190 units versus 322,846 last year. Passenger vehicles took the biggest hit across all segments. BEVs, plug-in hybrids, commercial vehicles all declined.

The volume up in share price while production down is a bit of a head-scratcher. Maybe the market's pricing in some recovery expectations or the decline wasn't as bad as feared? Definitely worth watching how March and April numbers shake out.
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