China Meet Detroit | BYD F3DM at NAIAS
It was not so long as the North American automotive market got its first look at the potential competition from new Chinese automakers intend to make their first sales of cars in the US Several prototypes were presented to the most major auto shows across the country, and many of them were produced by BYD Build your dreams native of Shenzhen, China, BYD seemed about to be among the first wave of Chinese brands to become household names among American car buyers.
Delays concerning safety and the most recent global recession seem to have taken their toll on vehicle aspirations of BYD, but this week, the automaker has made public the fact that he was dealing with a decline of 99 percent in earnings the announcement of the third quarter was hand to hand with the news that BYD lowered its sales forecast for 2010 to 75 percent of the original number, and the resulting fall of its share price has created financial difficulties for the company.
As relayed by an article published by Bloomberg, BYD's fall from grace - including issues with Chinese government agencies led to the hand over of seven facilities that were built in violation of the regulations of the State - has accelerated by the imposition of additional taxes on small cars on the Chinese market despite boasting the best passenger car sales in China the BYD F3, the company is facing increased local competition from SAIC Motor Corp and Dongfeng Motor Group, entities that are not expressed at approximately the same level of ambition as BYD when it comes to export vehicles from China in terms of international support, account BYD Warren buffet as an investor in his company Berkshire Hathaway, but is more certain that the brand will be able to bring one of its cars across the Pacific and in US showrooms.
This news will be disappointing for the eco-conscious car fans had been eagerly awaiting the 2011 arrival of the battery powered BYD B6 sedan The vehicle, which is facing the technological challenges related to its battery systems during its development, was intended for sale in California early next year the company has not taken a US B6 completely off the table, but he does not have a timetable as to when the 'promising automobile could begin US sales at this stage, BYD may be forced to highlight its automotive interests and invest in its other industrial operations to maintain liquidity in the end, it seems that buyers interested potential of cheap Chinese imports and the availability of a fresh player on the EV car scene will no longer be able to count on the presence BYD.
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