HK Stock Market Move | BRILLIANCE CHI (01114) fell more than 4% in early trading, while the sales of foreign car brands such as BMW in China dropped across the board in the 24th year.

BRILLIANCE CHI(01114) fell more than 4% in the morning session, down 4.46% as of press time, at 3.43 Hong Kong dollars, with a turnover of 26.7067 million Hong Kong dollars. On the news front, on January 14th, with the rise of domestic Chinese car brands, sales of foreign car brands in China have cooled down. Recently, Mercedes-Benz, BMW, Audi (referred to as BBA), and Porsche have successively announced their global sales and sales in China for 2024. Audi, BMW, Porsche, Toyota, and Honda have all experienced a collective decline in sales in China, with Honda's sales in the Chinese market for 2024 decreasing by 30.9% and Porsche experiencing a 28% year-on-year drop in sales in the Chinese market, marking three consecutive years of decline. The China Association of Automobile Manufacturers stated that in 2024, the sales of Chinese brand passenger cars reached 17.97 million units, an increase of 23.1% year-on-year, with a market share of 65.2%, up 9.2 percentage points year-on-year. In 2024, apart from a slight increase in sales for Korean brands, sales of German, Japanese, French, and American brands all showed double-digit year-on-year declines.