BYD Leads China EV Selloff After Weak January Sales Figures

BYD Co. led a selloff of Chinese electric vehicle makers in Hong Kong Monday, after soft January sales figures signaled demand is cooling in the world’s biggest auto market.

BYD shares fell as much as 5.1% in early trading — the most in three months — after reporting sales fell 30% last month from a year earlier. Smaller rivals Xpeng Inc. and Nio Inc. both fell more than 6% after also reporting disappointing January sales.