BYD's Record December Sales Likely Mainly Supported by Exports -- Market Talk

Dow Jones01-03

0543 GMT - BYD's December sales indicated strong growth in exports but lower domestic sales, Deutsche Bank analyst Bin Wang writes in a note. The Chinese auto giant reported slightly lower-than-expected total sales in December at 514,809 units, up 51% on year. That's a monthly record for the automaker, but its domestic sales dropped 4% on month to 457,655 units. Meanwhile, its overseas sales saw a 58% on-month rise to 57,154 units, a new monthly record. There has been some front-loaded demand from January to December, given some potential concern from car buyers on the CNY20,000 per unit trade-in subsidy likely expiring in 2025, Deutsche Bank notes, as it maintains a buy rating for the stock. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

January 03, 2025 00:43 ET (05:43 GMT)

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There has been some front-loaded demand from January to December, given some potential concern from car buyers on the CNY20,000 per unit trade-in subsidy likely expiring in 2025, Deutsche Bank notes, as it maintains a buy rating for the stock. 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