Tesla's Rival BYD Reports 88% Increase In Japan Sales In H1: Report
Portfolio Pulse from Shivani Kumaresan
BYD Company (OTC:BYDDY) reported an 88% increase in Japan sales in the first half of 2024, selling 1,084 vehicles. Despite the growth, BYD's sales in Japan remain modest. The company plans to expand its store count in Japan from 55 to 90 by the end of 2024. BYD's international NEV sales rose by 173.8% year-on-year, contributing 12.6% to its total NEV sales. The Japanese market accounted for 0.5% of BYD's overseas sales. BYDDY shares are trading lower by 0.28% at $62.88 in premarket.
July 15, 2024 | 12:23 pm
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BYD Company (OTC:BYDDY) reported an 88% increase in Japan sales in H1 2024, selling 1,084 vehicles. Despite the growth, sales remain modest. BYD plans to expand its store count in Japan from 55 to 90 by the end of 2024. BYDDY shares are trading lower by 0.28% in premarket.
The 88% increase in Japan sales is a positive indicator of BYD's growth in the Japanese market, although the sales figures remain modest. The planned expansion of stores in Japan suggests a strategic push to increase market presence. The slight premarket decline in BYDDY shares may be a short-term reaction, but the overall growth trend is positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100