BYD new energy vehicle sales slump in January


China's leading new energy vehicle (NEV) manufacturer BYD saw its NEV sales tumble in January, company data showed. The company sold 7,133 NEVs in January, compared with 28,668 last year, representing a drop of 75.12 percent, BYD said in a statement filed with the Shenzhen Stock Exchange.

The firm sold 18,040 gasoline-powered vehicles last month, up 18.28 percent year on year. In total, BYD sold 25,173 vehicles, down 42.68 percent. The figures are unaudited and may be subject to adjustment, the statement said. Sales of NEVs in China have been trending down amid weak automobile demand, scaled-back subsidies and fiercer competition from gasoline-powered vehicles.