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As per the latest reports, BYD has reportedly gone ahead and shared its sales report for the month of August 2021. The company has revealed that it has experienced a higher number of sales in the month of August as compared to the month of August in 2020.
The company has reported that in the month of August 2021, it has sold 61,409 cars that are energy-based. As compared to August of 2020, BYD has reported that its sales have grown four times in August of 2021.
According to analysts, the rise in the sales of cars is due to the high demand for electric cars all around the world. As per the analysts, the demand for electric cars is constantly on the rise which is causing the monthly sales for BYD to experience a significant bounce.
The company has announced that the sales it has experienced are for plug-in hybrids as well as battery vehicles. BYD has announced that it has also surpassed the vehicle sales it achieved in the month of July 2021.
A BYD has announced that in the month of July 2021 it sold around 50,492 cars, which means that BYD has sold over 10,000 cars in the month of August. After sharing the sales report for the month of August, BYD has recorded a significant rise of 5.5% in its share prices for Monday, September 6, 2021 trading. At present, BYD is one of the major electric car manufacturing companies in China that is listed on the Hong Kong Stock Exchange.
BYD is also backed by one of the oldest and veteran investors from the United States, Warren Buffett. Buffett is reportedly the Chairman of Berkshire Hathaway that is responsible for running several arms into different industries.
While BYD constantly makes a name for itself in the electric car industry, trying to compete with Tesla, other China-based electric car companies are also in the same marathon.
At present, China-based electric car companies such as XPeng, Li Auto, and Nio are also in the race. The companies have started showing Tesla and other international electric car manufacturing brands their true potential. These companies have also started expanding their businesses beyond China and are targeting the European region.
Despite all their efforts, these three companies are not as big as BYD. The data shows that these cars only managed to deliver cars below 10,000 each in the month of August.
Unlike the rest of the startup companies in China, BYD exerts its resources to achieve high sales volumes in a month. On the other hand, companies such as XPeng, Li Auto, and Nio, focus their efforts towards achieving deliveries.
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