business

BYD reports declining sales of new energy vehicles in 2020

BEIJING, Jan. 9 (Xinhua) — China’s leading new energy vehicle (NEV) manufacturer BYD reported a sharp drop in its NEV sales in 2020.

BYD sold a total of 189,689 NEVs last year, down 17.35 percent from the same period in 2019, the company said in a filing with the Shenzhen Stock Exchange.

In December last year, it sold 28,841 NEVs, up 120.18 percent compared with a year ago.

Despite the sales slump in the NEV sector, BYD reported a sales rebound for gasoline-powered vehicles. Last year, the carmaker sold 237,283 gasoline-powered vehicles, up 2.32 percent year on year. 

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