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However, the retail of its EV (electric vehicle) models like the BYD F3DM, which draws more attention of domestic consumers, has not started up yet, because the individual buyers' economic burdens are predicted to be heavier before the release of some actual allowance policies.
BYD Auto, which is under the aegis of the Hong Kong-listed company, is known for the cars with a low displacement, but it has extended reaches to the middle-class vehicle market recently. On October 26, 2009, the company's first middle-class car model, the G3, hit the market, rivaling some salable counterparts like Excelle, Elantra HDC, Lavida, and Cruze.
Presently, the Chinese mainstream middle-class vehicle market is divided into three segments: the imported cars, joint-venture cars, and self-developed cars. There is a severe competition among the joint-venture automakers in China, and the imported cars are designed to charm the high-end consumers.
In particular, the self-developed car models, which have much advantage in the performance-price ratio, are expected to meet a high growth potential in the near future. So BYD Auto believes that more than 10,000 units of the G3 will be sold per month.
BYD Auto aggregately sold 44,000 vehicles in September 2009, largely rising 88% from a year ago and hitting a record high since its establishment in 2003.
To be specific, two car models of the company, the BYD F3 and F0 separately topped 10,000 in terms of total sales volume, and up to 5,709 units of the F6 were sold last month. Meanwhile, total sales volume of the BYD F3R, which hit the market just one month ago, approached 5,000.
In the first nine months, the private automaker sold nearly 300,000 cars, accounting for 75% of its sales plan for the entire 2009, and the figure was 50% higher than that in the full year 2008. Based on a fast growth and the further production capacity, it is expected to achieve the 2009 sales goal of 400,000 vehicles.
According to its product debut scheme, four new car models, including the G3, M6, S6, and L3, will be launched from October to December. Presently, BYD Auto is actively preparing for test of the pure EV (electric vehicle) e6, and the commercialization will likely be completed before this yearend.
(USD 1= CNY 6.83)
Source: www.cs.com.cn (October 28, 2009)
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