Hong Kong Auto Stocks Plunge on Jan. 12, Hitting Both EV and Traditional Automakers

On January 12, the Hong Kong-listed auto sector continued its weak performance, with most automakers seeing significant share price corrections. Geely Automobile fell 3.2% to close at HK$9.85, hitting a one-month low. Leapmotor dropped sharply by 3.5% to HK$28.60, while GAC Group declined 2.8% to HK$5.20. New-energy vehicle startups also came under pressure, with Li Auto and XPeng down 2.3% and 2.6%, respectively. Traditional automakers were not spared either—Great Wall Motor, NIO, and Seres fell 1.9%, 2.1%, and 1.7%, respectively—and Chery-related stocks also broadly declined. The widespread losses across the sector reflect waning market confidence and mounting pressures facing the industry.