Warren Buffet BYD Electric Car Stock Tesla 2010 IPO InvestorPlace

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BYD e6 Electric Cars

Buffett Stock BYD Sees Slump After Tesla IPO

Electric vehicle company just 35,356 cars in

Jul 8, 2010, 8:27 pm EDT | By Paul

Chinese auto and battery BYD Co. Ltd. (OTC: BYDDF ) a nasty surprise today: in June fell 21% from May The company sold just cars in June compared 45,020 in May. In June the company sold 34,265 so year-over-year sales actually for the month by 3.2%. For the first six of 2010, BYD has sold 289,014 a rise of 63% over last s sales.

  A division of Warren Buffett s Hathaway Inc. (NYSE: ) owns 10% of BYD.

Earlier year the company said it plans to sell 800,000 in 2010, double the 400,000 it in 2009. Even the weak for June did not cause the company to off that forecast. A bit more might have been for, given the beating shares in Tesla Motors, (NASDAQ: TSLA ) in the week its IPO.

  Tesla has now gone from a hot IPO to a busted IPO trading under its offering price.

BYD has benefited Chinese government incentives a reduction in the small-vehicle tax, and to gain even more incentives kick in for purchasers of vehicles. BYD expects to release its e6 model before the end of this

Most auto industry expect Chinese demand to in the second half of 2010 manufacturers inventory levels to If that turns out to be the case, BYD really have no option but to its aggressive full-year forecast.

BYD e6 Electric Cars

The however, believes that its of four new models in the next six coupled with historically sales numbers for the second of the year will pull the to meet its forecast.

Compare BYD s with some recent from the CEO of Tesla Motors. expects to build about of its $108,000- roadsters annually by The company s sedan, likely to around $50,000, is not expected to go production until 2012.

BYD s e6 is a horse of a different color. and lighter, it is expected to be priced at $40,000 in the US and slightly more in The Chinese government will offer a subsidy of around for all-electric cars like the e6.

The BYD e6 a greater range than of the Tesla cars and its recharging is much quicker. The battery is cheaper because it does not use and it is far less likely to explode in the of a crash.

BYD and Tesla are not really competing for the customers, but the comparison could be when the e6 enters the US market. in China, BYD has got to be looking for something to its sales the boost required to hit its The e6 is not it, and shined-up new models probably won t do the either.

Article printed from Media, http://investorplace.com/2010/07/byd-byddf-tesla-tsla-ipo-electric-car/.

BYD e6 Electric Cars
BYD e6 Electric Cars
BYD e6 Electric Cars


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