BYD: E-cars and plug-in hybrids help to triple profit

BYD: E-cars and plug-in hybrids help to triple profit-help

Sales of fully electrified vehicles was the growth driver par excellence for the profit and turnover of BYD. The automobile manufacturer was able to profit its profit in the first half of the year, as well as increase sales. While the sales of pure electric cars has almost doubled, the paragraph of burners has almost halved.

In the first half of 2019, BYD looks at a profit of $ 205 million, which is equivalent to growth of 203.6 percent, compared to the same period of the previous year,. Sales increased an increase of almost 15 percent and achieved $ 8.79 billion until the end of June. The view of the sales figures reveals that growth is mainly from the electro car and plug-in hybrid sector.

So it brought BYD to 145.653 vehicles with alternative fuel, a growth of 94.5 percent compared to the first half of 2018. In the same period, the sales of pure burners went by 44.9 percent to 82.419 vehicles back. In total, however, one sold only 1.59 percent more cars than until June 2018.

The sales analysis still lacks July 2019, which comes up with a burglary of the market, driven by cutting appropriate subsidies for the New Energy Vehicles (NEV). By side you still calm down. So the reduction of subsidies would put the industry under pressure in the short term, but in the long term, however, a healthy development is promoted.

BYD will bring new models to the market in the second half of the year and expects that they continue to promote sales growth and further expand the company’s leading position. Also planned with Toyota is a private electric car on the streets of China. It is not yet known whether electric cars from BYD-Toyota will also be offered in other markets.

Otherwise, ByD is still powerful by the planned delivery of more than 1.000 electric cars according to Thailand, the replacement of all diesel vehicles by E-cars or building a battery cell production in Europe. In addition to the European site search, the Chinese company employs the task of bringing a spreading of the battery business to the stock market. By the end of 2022 the IPO is targeted.

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