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BYD snaps longest streak of sales declines
Synopsis
Chinese auto giant BYD has broken its sales slump. Global sales saw a slight increase in May, marking an end to an eight-month decline. International sales experienced a significant jump, fueled by demand for electric cars in Europe and emerging markets. This growth comes despite challenges in China's domestic market.
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Chinese electric vehicle giant BYD snapped its longest-ever eight-month sales decline streak in May, despite weakening domestic demand and intensifying competition continuing to weigh on performance..
Vehicle sales globally grew 0.3% from a year earlier to 383,453 units last month, according to Reuters calculations based on a stock filing on Monday.
Sales abroad rose 80.4% year-on-year to 160,644 units in May, supported by stronger demand for electrified vehicles in Europe and emerging markets, driven by higher oil prices following the U.S.-Israel conflict with Iran.
Vehicle sales globally grew 0.3% from a year earlier to 383,453 units last month, according to Reuters calculations based on a stock filing on Monday.
Sales abroad rose 80.4% year-on-year to 160,644 units in May, supported by stronger demand for electrified vehicles in Europe and emerging markets, driven by higher oil prices following the U.S.-Israel conflict with Iran.
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