Buffett-backed BYD sees China auto sales up 20 pct this yr
BEIJING, April 22 |
BEIJING, April 22 (Reuters) - BYD (1211.HK), China's eighth largest car maker, expects China car sales to grow about 20 percent this year, fueled by continuing government incentives implemented at the height of the global financial crisis.
The growth will be fueled in part by strong demand from China's smaller cities, which is expected to continue over the next five years, said Henry Li, general manager of the export division for BYD, backed by U.S. billionaire investor Warren Buffett.
He made his comments at an industry forum timed just before the start of this year's Beijing auto show, China's largest.
His remarks echoed earlier ones at the forum from a government researcher, who also predicted China's car sales would grow 20 percent this year. [ID:nBJD003677]
(Reporting by Doug Young; Editing by Ken Wills)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints


Follow Reuters