Ideal car's sales in June dropped significantly by 24% compared to the previous year, and its market share is facing competition from rivals eating away at it.

In June, Ideal Car delivered 36,300 new cars, a decrease of 11% month-on-month and a sharp drop of 24% year-on-year. In May of this year, the company delivered 40,800 new cars, a year-on-year increase of 16.7%. Ideal Car disclosed the above data on the evening of July 1st. The announcement also showed that the company delivered a total of 111,000 cars in the second quarter of this year, compared to 108,600 cars in the same period last year, a decrease of more than 2,000 cars. Due to the sharp year-on-year decline in delivery data, Ideal Car shares fell 3.18% at the close on July 2nd, closing at HK$103.6. Industry insiders believe that over the past two years, the average net profit per vehicle of Ideal Car has been declining, creating the impression among investors that the company's performance is "not ideal." In the future, major competitors such as Tesla will also go public in Hong Kong for financing, increasing the competitive pressure on Ideal Car. Prior to the disclosure of second-quarter delivery data, Wang Xing, CEO of Meituan-W and non-executive director of Ideal Car, had already cashed out heavily on Ideal Car. Combined with the earlier selling off of shares by several senior executives, some investors have expressed concerns about the company's operating certainty. Industry insiders say that the selling off of shares by major shareholders and senior executives is a signal that investors should be wary of.