BYD new-energy vehicle sales slump

BEIJING -- China's leading new-energy vehicle (NEV) manufacturer BYD reported on Thursday that its NEV sales have tumbled in the first seven months of this year.

The company sold a total of 75,777 NEVs in the Jan-July period, down by 53.29 percent from the same period last year, BYD said in a filing with the Shenzhen Stock Exchange.

In July alone, it sold 15,100 NEVs, down from 16,567 units in the same month a year ago.

Despite the sales slump in the NEV sector, BYD reported a sales rebound for gasoline-powered vehicles. During the first seven months, the carmaker sold 114,233 gasoline-powered vehicles, up by 17.96 percent year-on--year.