BYD vehicle sales climb 18% in August as record exports outweigh China decline

Investing.com -- BYD Co. reported vehicle sales of just over 440,000 units in August, marking an 18% increase from the same month last year, according to figures released Tuesday. The Chinese automaker posted growth compared to July as well, though sales remain below the pace needed to achieve its annual target.

Exports more than doubled in August and accounted for 43% of total deliveries. The company continues to expand its presence in Southeast Asia, Europe and South America. BYD is challenging established automakers in these regions partly to avoid intense competition in China, where the auto market is declining amid weak consumer spending. In the first half of the year, BYD's international sales exceeded 50% of group revenue for the first time.

The August results showed improvement over the first half of the year, when BYD modified assembly lines to prepare for upgraded batteries. The company would need to increase its sales rate to reach the lower end of its 5 million to 5.5 million unit target for the full year.

BYD's Hungary flagship factory has faced scrutiny over alleged labor abuses by subcontractors. The company said it followed local laws and regulations. The European Union is considering tariffs targeting Chinese hybrids, Handelsblatt reported in June.

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