China's BYD faces domestic sales slump as demand weakens

Chinese electric vehicle giant BYD reported its vehicle sales fell for an eighth consecutive month in April, dropping 15.5 percent compared with a year earlier, marking its longest-ever sales downturn amid weakening domestic demand, News.Az reports, citing Reuters.

Despite the continued decline at home, the company’s overseas performance improved significantly.

International sales rose 35 percent to 130,000 vehicles, reversing a 20.5 percent drop recorded in March, according to Reuters calculations based on a Weibo post from BYD executive Li Yunfei.

The ongoing downturn surpasses the company’s previous longest decline streak of six months, which occurred during a government subsidy rollback that ended in December 2019 and had weighed heavily on China’s electric vehicle market at the time.

News.Az 

By Nijat Babayev