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00:02Chinese electric vehicle stocks have plunged this year as a prolonged price war erases
00:08billions of dollars in market value, according to Benzinga.
00:12Xpeng has fallen to its lowest level since September 2024,
00:16while NIO, Li Auto, Polestar, and BYD have also suffered steep declines.
00:22China's automotive sales are on track for their worst performance since 2014,
00:26with passenger vehicle sales projected to fall to $18.5 million this year, according to Alex Partners.
00:34Meanwhile, manufacturers have increased production,
00:36forcing companies to cut prices to compete for market share.
00:40Chinese automakers are expanding into international markets,
00:44particularly Europe, where they face the threat of higher tariffs.
00:47Some Wall Street analysts see buying opportunities in Chinese EV stocks,
00:51with Goldman Sachs, Jeffries, and Bernstein forecasting gains for Xpeng and NIO.
00:57For all things money, visit Benzinga.com.
