Chinese EV maker BYD reports third month of sales growth driven by exports
Chinese EV maker BYD posted a 21.8% year-on-year sales increase in July to 419,211 vehicles, driven by strong export demand.
Chinese electric vehicle manufacturer BYD recorded its third consecutive month of global sales growth in July, propelled by robust international demand that helped offset sluggish market conditions within China.
According to company data released on Saturday and calculated by Reuters, BYD's total vehicle sales rose 21.8% year-on-year to reach 419,211 units last month. The expansion was primarily sustained by a sharp increase in overseas shipments of passenger cars and pickup trucks, as the automaker continues expanding its footprint outside its home market.
The domestic automotive sector in China has faced heightened competition and softening demand, prompting major manufacturers to rely increasingly on foreign sales to maintain overall volume growth.
Sources: Investor.bg.