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Largest NEV company in China, BYD Company (OTCPK:BYDDF) ended a 10-month growth streak in NEV (new energy vehicle) sales and saw a drop of 36.3% M/M in January to 151,341 units. Y/Y the figure was up 62.4%. The Chinese new year likely took a toll on the sales figure.
Bifurcating: BEVs (battery electric vehicles) were down 36.3% M/M; PHEVs (plug-in hybrids) down 35.7% M/M explained by cnevpost.com reports. Overall in January, the company sold 10,409 NEVs in overseas markets, down 8% from December.
The company's installed power and energy storage battery capacity in January was about 8.148 GWh, up 70.82% Y/Y, but down 26.9% from 11.152 GWh in December.
Model-wise sales: BYD Song family SUVs sold 49,865 units in January, up 122.1% Y/Y, but down 28.8% M/M, the Yuan family was second-highest seller in January at 23,231 units, up 170.3% Y/Y but down 21.2% M/M, BYD Dolphin sold 17,629 units in January, up 66.3% Y/Y but down 32.4% M/M.
Premium models contributed 26.1% of total sales, down 5.2 percentage points from December.
Among recent company news: Ford in talks to sell German plant to BYD Company; Chinese automakers gain ground in Australia.
Contributor commentary on the stock: 'BYD YangWang: A Premium Brand With Limited Scope' and 'BYD: All Eyes On Sales Data And NEV Subsidy Policy'
The stock has a Buy rating by Wall St. analyst and a Hold rating according to Quants with lowest factor grades given to valuation.