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Reacting to previously reported bad news, China’s BYD has cut its 2010 sales target by 25 percent to still quite ambitious 600,000 units, reports The Nikkei [sub].
China’s government introduced subsidies for fuel-efficient models in July, and as a result, sales of fuel-efficient compact cars – – -dropped.
Only in China: “Many people appear reluctant to buy now in the hope that even bigger discounts will be introduced in the future,” writes The Nikkei [sub]. BYD dealerships sit on two-months worth of inventory, an outrage in China. Their answer: Discounts. The customers wait some more.
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