BYD's sales dropped nearly 50% in February

Gasgoo.com (Shanghai March 9) - BYD Automobile announced February sales reports of 26,500 vehicles, caixun.com reported earlier this week. The figure represents a staggering drop of near 50 percent from January.

The news disappointed many in the industry, which came after the Buffet-based manufacturer's decision to axe prices of their entire lineup.

BYD was quick to point out that the decrease in sales was due in part to the decline in demand experience by manufacturers across the board in the post-holiday season. Industry insiders believe that it will be important to wait for the company's official performance results to be reported next week.