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S Korean Auto Industry Foresees BYD's Dismal Sales in Beginning of Foray into Local Mkt
Korea Automobile Manufacturers Association (KAMA) released a report saying that BYD COMPANY (01211.HK) is expected to face dismal sales at the beginning of its foray into the South...
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S Korean Auto Industry Foresees BYD's Dismal Sales in Beginning of Foray into Local Mkt
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Korea Automobile Manufacturers Association (KAMA) released a report saying that BYD COMPANY (01211.HK)  +3.200 (+1.200%)    Short selling $193.11M; Ratio 21.676%   is expected to face dismal sales at the beginning of its foray into the South Korean market due to its sluggish performance in the Japanese market, South Korea's Yonhap News Agency reported.

BYD dabbled into the Japanese market in July 2022, having introduced localization of its sales network, commissioned celebrity endorsements, and provided subsidies for electric vehicles (EVs), the report said.

Related NewsNomura Expects Overall CN Auto Mkt Demand to Peak This Mth
Yet, BYD sold only 3,188 passenger vehicles (PVs) in two years, and its sales in 1-3Q24 leaped 97% YoY to 1,742 units, which was still a long way off from the 30,000 PVs annual sales target by 2025, the report said.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-12-18 16:25.)

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