BUSINESS BYD's green car sales down 59% in March


BYD's green car sales down 59% in March


17:42, April 09, 2020

An entrance to the headquarters of Chinese electric car maker BYD in Shenzhen's Pingshan district, Guangdong province, Oct 25, 2019. (Photo: Agencies)

SHENZHEN -- China's leading new energy vehicle (NEV) manufacturer BYD continued to report sluggish NEV sales in March amid the COVID-19 outbreak.

The Shenzhen-based company said in a filing to the Shenzhen Stock Exchange that it sold 12,256 NEVs last month, down about 59 percent from the same month a year ago.

Sales of gasoline-powered vehicles, however, increased 9.5 percent year-on-year to 18,343 units in March, it said.

In the first quarter of this year, its NEV sales plunged nearly 70 percent year-on-year to 22,192 units while sales of gasoline-powered vehicles fell about 12 percent to 39,081 units.

Its NEV sales declined 7.39 percent year-on-year to 229,506 units in 2019, the carmaker said in early January. This came amid the cut in government subsidies by the largest margin and a broader weak automobile demand in the world's largest auto market last year.

The falling sales and scaled-back subsidies drove BYD's net profit to fall 42 percent year-on-year to 1.61 billion yuan ($228 million) last year, BYD said in its preliminary earnings estimate.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue