After Tesla, the electric car maker cut the price of its most popular models, thereby declaring a price war on other automakers in China. Shares of popular Chinese automaker BYD lost $18 billion last month, Bloomberg wrote.

U.S.-listed shares of the Warren Buffett-backed Chinese automaker have fallen 14 percent since the start of February, while its rival Tesla has posted a 9 percent gain.

So traders are wary of BYD’s prospects after the firm’s dealers slashed prices on some models to boost demand. Meanwhile, its other competitors, NIO (HK:9866) and Xpeng (HK:9868), followed Tesla’s lead with price cuts as demand slowed. Buffett’s constant selling of the stock, which has now surpassed the $500 million mark, has also taken a toll.

Analysts are seeing a gradual shift in the industry: Tesla discounts could lead to customer expectations of cars getting even cheaper, which can’t help but have a negative impact on margins for all players in the industry. Lower raw material prices today are unlikely to offset the negative impact on margins.

But BYD can hold out because it has a better pricing policy and controls most of its supply chain by producing its own chips and batteries. It reported an 85% year-over-year increase in sales to more than 190,000 units in February.

Earlier we reported that Powell’s words increased fears about rate hikes.