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BYD's production in July fell for the first time in 17 months as BYD expansion spree slowed

BYD’s vehicle production dropped 0.9% from a year ago in July, ending a 16 month growth streak which had catapulted BYD into the top spot for electric vehicles makers worldwide.

BYD produced 317,892 plug-in hybrids and electric vehicles (PHEVs), globally, last month. Sales increased 0.6%, to 344 296 vehicles. This is a sharp slowdown from the 12% growth in June.

In July, EV production and sales grew compared to last year. However, PHEV production and sales fell by 24.6%.

In February 2024 the company's production shrank, as did the industry, due to the timing and length of the Chinese Lunar New Year, which was in February, versus January the year before. In February 2024, sales also decreased.

BYD is the largest Chinese competitor to Tesla. Both production and sales reached record highs in 2024's fourth quarter before declining this year.

BYD, the world's largest EV seller, has overtaken the U.S. electric vehicle specialist with its 41% share of sales in the last year.

BYD has been a part of a brutal price war on the world's biggest auto market. It has slowed down its production in recent months, by cutting shifts in some factories in China, and delaying plans to add more production lines. This was reported in June. Reporting by Qiaoyi Li and Brenda Goh, Editing by Susan Fenton and Frances Kerry, Emelia Sithole Matarise.

(source: Reuters)