BYD cuts sales target
Chinese car and battery maker BYD, backed by US billionaire Warren Buffett, said Wednesday it had cut its sales target by 25 percent to 600,000 autos this year due to capacity constraints.
Analysts had expected BYD, 10 percent owned by Buffett's Berkshire Hathaway, to revise down its target after the Chinese company's auto sales in June fell 21 percent from May.
