Bolt Out of the Blue.
By Mark Andrews
South China Morning Post.
06/11/2010
With its latest hybrid, carmaker BYD has come out of nowhere to lead the charge in green vehicles on the mainland, writes Mark Andrews
<p>BYD looked set to become one of the leading forces in the mainland motoring industry earlier this year. The company only started manufacturing cars in 2005, but in the first quarter of this year it topped sales figures on the mainland with the F3. For total production figures, the carmaker came in fourth place, behind two Volkswagen joint ventures and General Motors.</p>
<p>It has since taken a tumble, however. Last month the carmaker reported a 99 per cent profit slump for the third quarter, after an already worsening picture in the previous quarter, blamed on slumping car shipments, high dealership inventories and rising costs.</p>
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