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Investing.com -- BYD (SZ:002594), the world’s largest electric vehicle maker, reported a 0.9% drop in vehicle production for July compared to the same month last year, marking its first decline in more than 16 months.
The Chinese automaker manufactured 317,892 electric vehicles and plug-in hybrids globally last month, according to a filing with the Hong Kong stock exchange. While production decreased, sales showed a modest increase of 0.6% to 344,296 vehicles, representing a significant slowdown from the 12% growth recorded in June.
BYD last experienced a production decline in February 2024, when the entire industry saw a downturn due to China’s Lunar New Year holiday timing. Both production and sales contracted during that period.
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