New BYD models spur sales rebound
After declining for a year, BYD Co.'s auto sales grew in the third quarter thanks to new model launches.
Led by the redesigned F3 compact sedan and new models such as the L3 compact car and the S6 SUV, BYD's auto sales rose 15 percent year-on-year to 38,015 units in September, according to J.D. Power and Associates.
BYD's third-quarter net profit also rebounded after tumbling 89 percent year-on-year in the first six months.
Thanks in part to rebounding auto sales, BYD's net profit surged nearly 600 percent year-on-year in the third quarter to 77 million yuan ($12 million), according to the company.
BYD, headquartered in the south China city of Shenzhen, is partly owned by Warren Buffett's Berkshire Hathaway Inc.