Traders have been abandoning Chinese auto stocks as a price war started by Tesla and BYD spread across the whole industry, a sign of weak consumer sentiment amid pessimism about the pace of economic recovery.
BYD, the world's biggest electric-vehicle (EV) maker by sales, slumped 11% in Hong Kong and 7.8% in Shenzhen last week. SAIC, China's biggest carmaker, tumbled 6.7% in the same span in Shanghai.
