Source: China – South China Morning PostAfter years of rapid expansion, Chinese carmaker BYD saw sales fall for the first time in over five years in the third quarter of this year on an annual basis. Amid fierce competition at home, BYD’s vehicle sales in September alone fell by 5.5 per cent year on year. This comes after a 30 per cent profit drop in the second quarter.
The company’s sales and profit drops reflect the fortunes of many other Chinese carmakers as domestic demand for electric vehicles slows. But what does this mean for…Read More