第一财经·2025-05-26 06:38Core Viewpoint - The recent decline in automotive stocks, particularly BYD, is attributed to aggressive price cuts and promotional activities in the market, leading to a broader sell-off in the sector [1][2][3]. Group 1: Stock Performance - Automotive stocks in A-shares experienced a significant drop, with BYD falling over 5% and other companies like Seres, Zotye, BAIC Blue Valley, and Great Wall Motors also declining [1][2]. - In Hong Kong, BYD and Leap Motor saw declines exceeding 8%, while Geely, Li Auto, Xpeng, and NIO also followed suit [2]. Group 2: Price Cuts and Promotions - BYD has launched substantial promotional activities, including a limited-time price reduction for 22 models across its Dynasty and Ocean series, with discounts reaching up to 53,000 RMB [2][3]. - Specific models like the Seagull and Dolphin have seen their prices drop significantly, with the Seagull priced at 55,800 RMB and the Dolphin at 77,800 RMB [3]. - The Dynasty series also features discounts, with the Qin PLUS DM-i starting at 63,800 RMB and the Han EV at 154,800 RMB after discounts [3]. Group 3: Industry Outlook - Despite the current volatility, analysts maintain a positive outlook for the automotive industry, driven by advancements in autonomous driving and robotics [4].