BYD deliveries slide despite robust EV demand
Automotive News China
Automotive News | 2019-6-11
Sales at BYD Co., China¡¯s largest electrified vehicle manufacturer, dropped 10 percent to 33,920 in May, marking the first monthly decline the company has recorded this year. |
Weaker deliveries of gasoline-powered vehicles more than offset robust demand for BYD¡¯s full-electric vehicles and plug-in hybrids.
BYD has stopped expanding its traditional vehicle lineup to focus on developing new EVs and plug-in hybrids.
As a result, sales of gasoline vehicles including sedans, crossovers and multipurpose vehicles plunged 49 percent to 12,021 in May.
By contrast, deliveries of EVs and plug-in hybrids surged 54 percent to 21,899.
In the first five months, BYD¡¯s total sales edged up 1.3 percent to 189,337. Combined deliveries of the company¡¯s EVs and plug-ins soared 106 percent to 119,082. But gasoline vehicle sales tumbled 46 percent to 70,255.
BYD, headquartered in the south China city of Shenzhen, is partly owned by U.S. billionaire Warren Buffett. It is listed in Hong Kong and Shenzhen.
Entire contents © Crain Communications, Inc.
Use of editorial content without permission is strictly prohibited. All Rights Reserved.