Seres auto sales tumble in September
Car manufacturer Seres Group Co. Ltd. (9927.HK) on Thursday said it sold 32,218 vehicles in September, down 33.28% year-on-year. The company sold 283,161 vehicles in the first nine months of the year, down 16.88% from the year-ago period.
Sales of the company’s new energy vehicles (NEVs) fell 34.48% year-over-year in September to 29,271 units, bringing cumulative sales for the first nine months of the year to 256,521 units, down 15.79%. Notably, Seres models recorded sales of 25,370 units last month, down 38.5% year-over-year, while sales of its other brands declined 18.32% to 2,947 units. Production retreated in tandem, with total output in September sliding 38.38% from a year earlier.
Shares of Seres opened up 1.3% at HK$34.98 on Friday. The stock is down more than 70% from its IPO price of HK$131.50 last year.
By Lau Chi Hang
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