Cars

BYD says China sales to recover from this month

(Agencies)
Updated: 2011-01-11 14:59

BYD Co, the Chinese carmaker backed by Warren Buffett, expects sales in China to recover from this month after the company missed targets in 2010, Bloomberg reported citing chairman Wang Chuanfu.

Chinese customers tend to buy cars before the traditional Spring Festival, which falls on Feb 3 this year.

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Inventory levels at the Shenzhen-based automaker are also now at "normal" levels after the company cut 100 dealers in the nation in 2010, Bloomberg cited Wang as saying.

BYD missed its 2010 target by 13 percent, selling 519,806 cars. The automaker fell short of the goal even after it cut the target by 25 percent in August from an earlier estimate of 800,000 units.