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BYD shares down more than 7 percent on reports of weak March earnings
April 15, 2014 / 7:25 AM / 3 years ago

BYD shares down more than 7 percent on reports of weak March earnings

BEIJING, April 15 (Reuters) - Hong Kong listed shares in BYD Co Ltd fell more than 7 percent on Tuesday after media reports that March sales figures for the Warren Buffett-backed Chinese carmaker were down 24 percent on the same period last year.

Chinese media and the Wall Street Journal reported that the company sold 39,300 vehicles globally in March, citing an emailed statement from the company.

BYD did not immediately respond to requests for comment.

Shares listed on the mainland fell 3 percent.

BYD had previously reported strong earnings growth for 2013, saying on March 19 that 2013 net profit was up 580 percent from the previous year at 553.1 million yuan ($88.94 million) ($1 = 6.2191 Chinese Yuan) (Reporting by Natalie Thomas; Editing by Christopher Cushing)

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