BYD records 50% sales increase

Chinese automaker BYD Co. posted a 50% year-on-year increase in sales during the first three quarters of this year, reports Reuters. According to local newspaper China Securities Journal, BYD sold about 300,000 vehicles during the period, while sales surged 88% year-on-year in September alone to 44,000 units. Meanwhile, China Car Times has revealed that the automaker will launch its first premium-segment G3 sedan in the local market in late October. The new model is set to be priced between 56,800 yuan (US$8,318) and 76,800 yuan (US$11,247) and will be sold through BYD’s A3 sales network. The G3 sedan will boast either a 1500cc engine supplied by Mitsubishi or an indigenously developed 1800-cc engine from BYD. (October 21, 2009)