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BYD shores up sales behind EV demand
Automotive News China | 2019/3/19

BYD Co.s sales rose 2.1 percent to 26,833 in February as robust demand for electrified vehicles more than offset an ongoing sharp decline in gasoline-powered car and light-truck deliveries.

BYD delivered 14,429 plug-in hybrids and electric vehicles last month, a surge of 72 percent, according to company filings. 

But sales of the companys gasoline models including sedans, crossovers and multi-purpose vehicles plunged 31 percent to 12,404. 

It was the eighth straight month that BYD sold more electrified vehicles than gasoline cars. 

In the first two months, BYDs total sales increased 3.1 percent to 70,753. During the period, electrified vehicle deliveries soared 175 percent to 43,097 while gasoline car sales plummeted 48 percent to 27,656. 

BYD, Chinas largest electrified vehicle maker, is partly owned by U.S. billionaire Warren Buffett. It is listed in Hong Kong and Shenzhen. 

The company and Great Wall Motor Co. -- Chinas largest light-truck manufacturer -- are the only two major domestic Chinese automakers that have maintained sales growth in the first two months.

In January and February, Great Walls total sales gained 7.4 percent to 180,752 on demand for pickups and new crossover models. 

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