BYD Shares Fall as Stalling Sales Put Annual Target in Question

BYD Co. shares fell in Hong Kong trading Monday, as sputtering monthly sales growth raised doubts about whether the Chinese electric-vehicle maker will meet its annual target.

The stock fell as much as 4.2% in early trading, taking its decline from a May peak to around 28%. Sales of the Shenzhen-based auto giant barely grew last month. The world's biggest EV seller delivered 344,296 vehicles in July, it said Friday. That's up 0.6% from a year earlier, but down 10% from June. BYD's overseas sales also fell 10% compared to June to 80,737 units.