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<Research>M Stanley: BYD COMPANY (01211.HK) Raises Sales Target; Mgmt Confident on Exports
Recommend 7 Positive 12 Negative 4 |
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BYD COMPANY (01211.HK)'s management is targeting sales of 4 million units for the whole 2024, compared with its previous guidance of about 3.6 million units, implying a monthly sales of about 418,000 units in September-December, compared with a sales volume of 373,000 units in August, Morgan Stanley released a research report saying. Despite the increase in trade barriers, management remains constructive on exports, which are expected to surge 1x to over 450,000 units in 2024, implying a monthly exports of around 46,000 units from September to December. It is worth noting that management expects another ro-ro ship to arrive in 2H24, with more arriving in 2025, which may help mitigate high shipping costs. BYD COMPANY's management will focus on launching models such as DM-i 5.0 and e 3.0 Evo in 2H24, as well as releasing a variety of smart driving solutions on different models to create higher sales in premium brands. AAStocks Financial News |
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