BYD's sales extend growth streak on strong exports

BEIJING, Sept 1 (Reuters) - ‌Chinese electric vehicle ​maker ​BYD reported rising global sales for the fourth straight month, as robust exports continued to ‌cushion the impact of sluggish domestic demand.

Total sales ⁠climbed 17.8% from a year earlier to 440,293 vehicles in August, ‌while overseas shipments jumped 134.5% ‌to 189,466 vehicles, according to Reuters calculations based on BYD's disclosure on Tuesday.

BYD has spearheaded the international ​ambitions of Chinese automakers, gaining ground in key overseas markets including Europe and Southeast Asia, as it works ⁠to diversify beyond China's increasingly saturated EV sector.

That strategy is contributing to ​profitability. The world's largest EV maker by shipments generated more revenue overseas than in China for ​the first time in the ‌January to June period, with growing vehicle exports helping lift gross profit margins.

Brazil, BYD's largest ⁠market outside China, has become a key pillar of that overseas growth. The company is preparing to launch its first ⁠locally produced plug-in hybrid flex-fuel vehicle there, aiming to capitalise on ​surging demand as it deepens its manufacturing footprint in Latin America's largest auto market.

The growing contribution from international markets provided a buffer ‌against weakening profitability at home. BYD posted its first quarterly profit rise in more ‌than a year, although the rebound in the second quarter ⁠fell short of expectations ‌as competition in ​China's auto market remained intense.

(Reporting by Qiaoyi Li, Zhang Yan and Ju-min Park; Editing by Sharon ‌Singleton)

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