XPEV - Why XPeng Shares Are Moving Lower Monday | Benzinga
XPeng (NYSE:XPEV) stock is trading lower on Monday after China’s car sales dropped in June.
The Details: China’s car sales decreased by 6.9% in June compared to last year, according to Reuters.
Data from the China Passenger Car Association shows that June is the third consecutive month where Chinese car sales have declined. In April car sales fell 5.8% and in May car sales fell 2.2%.
Of Chinese vehicle sales, electric cars made up a record 48.1% over the prior month. In fact, electric vehicle sales were ...