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BYD’s Recent Sales Performance
BYD Company (OTC: BYDDY) reported total deliveries of 373,626 vehicles in August 2023, reflecting stagnant sales compared to the previous year. This marks two consecutive months of stagnation as the company faces fierce competition in the Chinese electric vehicle (EV) market.
In contrast, BYD’s overseas sales surged by 146% year-over-year, totaling 80,464 vehicles in August. However, domestic sales have declined for the fourth month in a row as the company contends with overproduction and aggressive pricing among local competitors.
Despite challenges in China, BYD’s strategy includes localized production and comprehensive supply chain control, giving it a competitive edge to thrive internationally. The company has established factories in countries such as Thailand and Brazil to enhance its global footprint.
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