BYD targets overseas sales of 1.3 million units this year, up 25pc

BYD (1211) plans to sell 1.3 million vehicles outside China this year, up about 25 percent from last year, said Li Yunfei, general manager of BYD's brand and public relations division last Saturday, according to mainland media and Bloomberg.

Overseas deliveries surged 1.5 times year on year to 1.05 million units last year, driving a 7.7 percent increase in BYD's full-year sales to 4.6 million units, despite an 18.3 percent drop in December deliveries to about 420,400 units.

However, Citi said in a report published last November that, based on discussions with management, BYD aimed to expand overseas sales to 1.5 million to 1.6 million units by 2026, suggesting the latest target is less than earlier expectations.

Cynthia ZHONG