Chinese carmaker BYD says it sold 24,107 vehicles in January, up 80% on last year.
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The carmaker attributed the sales increase to the government’s initiative to encourage the consumption of small cars via a tax break on cars with an engine displacement under 1.6 litres.
BYD, which has also attracted investment from US investor Warren Buffett, said it aims to double its car sales this year to 400,000 units.
The company, which is also a leading producer of battery and plug-in hybrid cars, plans to introduce more models and set up more sales outlets this year to spur sales growth.
January saw output of China-made autos at 658,800 units, up 5.07% from the previous month, though still down 20% from the same month last year.
January sales in China were also underpinned by manufacturers’ price cuts ahead of the lunar new year, a traditional high spot for consumption in China (it occurred in January this year and fell in February in 2008).
