Oh No, BYD Fails to Reach 2010 Sales Target!

Sad things happen every once in a while, including in the automotive industry and, although most people expected it, it's still regrettable to see them becoming reality. Leaving the ironical tone aside, Chinese carmaker BYD, who once dreamed about becoming the world's number one manufacturer, will most likely miss the 2010 sales target as things didn't go exactly as planned.

BYD had a goal of 600,000 units to be sold this year, but the company will most likely deliver between 520,000 and 550,000 cars until year end, China Daily informed today. And this should be no surprise for the Chinese entity, as signs of a such a fail could be seen from earlier this year - BYD decided in August to lower its sales target for 2010 from 800,000 vehicles to 600,000 units.

Furthermore, Q3 figures weren't exactly encouraging. The Chinese company posted, according to Bloomberg, a profit which is 99 percent down for Q3, results which in turn pulled BYD's stock down 10 percent, the biggest decline of the 982 stocks listed in the MSCI Asia Pacific Index.

BYD on the other hand has more optimistic goals for the future and will attend the 2011 North American International Auto Show to present its latest goodies in the green sector.

BYD's all-electric vehicle called e6 Premier, prepared for model year 2012, plus the dual-mode electric SUV, the S6DM, will be introduced at the show. In addition, the world's first mass-produced F3DM sedan plus the pure-electric bus developed by the company will also be displayed within the Chinese company's NAIAS booth.