China's Byd reduces neV sales in May

摘要

Chinese automotive manufacturer BYD's new energy vehicle (NEV) sales fell in May from a year and month earlier because of weak demand. BYD sold 11,325 NEVs in May, down by 12.9pc from 12,995 in April and by 48.3pc from 21,899 a year earlier. The firm's NEV sales last month accounted for 35.6pc of its total vehicle sales of 31,821. The Covid-19 outbreak has increased downside risks for the global economy and affected automotive production and demand since the start of this year. The Chinese government has taken measures to boost NEV demand, which will take time to fully recover from the pandemic.