China’s two largest carmakers, BYD and Geely Auto, recorded their strongest monthly sales of the year in October, bucking a downward trend in the world’s largest automotive market as smaller rivals come under increasing pressure to turn a profit. Shenzhen-based electric vehicle (EV) giant BYD handed over 490,168 cars to customers at home and abroad last month, up 11 per cent year on year, while Hangzhou-headquartered Geely delivered 310,183 petrol and electric cars worldwide in the same period,...
As BYD and Geely hit sales highs, pressure mounts on China’s smaller carmakers
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SCMP - Feed 91By Daniel Ren
EXECUTIVE SUMMARY
China’s two largest carmakers, BYD and Geely Auto, recorded their strongest monthly sales of the year in October, bucking a downward trend in the world’s largest automotive market as smaller rivals come under increasing pressure to turn a profit. Shenzhen-based electric vehicle (EV) giant BYD handed over 490,168 cars to customers at home and abroad last month, up 11 per cent year on year, while Hangzhou-headquartered Geely delivered 310,183 petrol and electric cars worldwide in the same period,.
Key Takeaways
- As BYD and Geely hit sales highs, pressure mounts on China’s smaller carmakers.
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