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BYD Confident of Hitting 3 Million Sales Despite China Weakness
- China automaker signals solid profits will continue this half
- BYD shares have rallied 10% since bumper quarterly earnings
The Warren Buffett-backed clean car giant has sold 1.5 million fully-electric and hybrid passenger vehicles this year through July.
Source: Bloomberg
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BYD Co. remains confident of selling 3 million clean cars this year despite economic challenges and an intense price war in the world’s second-biggest economy, founder and Chairman Wang Chuanfu told analysts at a briefing Tuesday, according to people who were present at the event.
China’s best-selling auto brand also signaled solid profits will continue in the second half of 2023, further boosting the outlook for the company, according to the people, who declined to be identified because the analyst meeting was private.