BYD posts strong NEV sales in Jan-Feb

SHENZHEN - Leading Chinese new energy vehicle (NEV) maker BYD sold 43,097 NEVs in the first two months of 2019, up 174.7 percent year-on-year.

The strong growth was primarily fueled by the sales surge in the pure electric passenger vehicles, with sales soaring 36.4 times to 24,179 units. Sales of plug-in hybrid electric passenger vehicles rose 21 percent to 17,831 units, the Shenzhen-based company said in a statement filed to the Shenzhen Stock Exchange late Thursday.

In February alone, its NEV sales totaled 14,429 units, up 72.7 percent from a year earlier.

Sales of its gasoline-powered vehicles in the first two months declined 47.7 percent to 27,656 units, with sales in February falling 30.8 percent to 12,404 units, it said.

Shares of BYD fell 2.25 percent to 52.18 yuan ($7.7) at 11:00 am Friday in Shenzhen.