By Sherry QinShares of Chinese electric-vehicle makers listed in Hong Kong were broadly weaker early Monday, as they engaged in new price war which investors believe could hurt their margins. New-energy vehicle players have started to cut prices again in August, only months after their last price war to attract consumers. The price war, its impact on margins and cash flow concerns are likely be more of a factor for EV makers' shares in early 2024, Citi analysts said in a research report. They added that even if sales volumes are surprisingly strong, these EV makers are unlikely to achieve sequential on-quarter sales growth into the first quarter of 2024 given the currently weak macroeconomic environment. Most EV makers registered lower retail sales in the first week of August.

Source: Wall Street Journal August 14, 2023 11:20 UTC