BYD aims to double car sales again in 2010

Shanghai, December 30 (Gasgoo.com) BYD Auto has announced its plans to release five new car models in 2010 and to sell 800,000 cars during the year, up from 400,000 units in 2009, China Business News reported yesterday.

BYD said it will launch the L3, I6, G6, S6, M6 all-new car models next year. The five new vehicle products include the sedan, SUV and MPV, of which only the M6 has been displayed to the public. All these new models will be priced between 100,000 yuan ($14,700) and 200,000 yuan.

In November, BYD sold 50,650 cars, up 132.6% from a year earlier. Sales in the first 11 months surged 150.2% to 388,246 units, and this year's sales hit 400,000 units on December 5, reaching the company's sales target for 2009. About two-thirds of the car sales were achieved by its F3 model.

China sold 1.04 million passenger cars last month, up 98% year on year, the most in at least five years, industry association said. The BYD F3 was the top-selling sedan model during the month, close to 32,000 units.

BYD's current hot-selling models are priced below 100,000 yuan for the compact car segment, which has great demand and fierce competition as well. The company expects to foray into the high-end auto market to compete with global brands of joint ventures.