BYD Group sold a record 419,426 vehicles last month, a 45% increase from September 2023. The numbers include BYD’s Denza, Fang Cheng Bao, and Yangwang subbrands.
September was BYD’s fourth consecutive record-breaking sales month. Despite an influx of new competition and an intensifying price war in China, BYD is still taking market share.
The BYD Seagull starts at under $10,000 (69,800 yuan) in China and is already stealing market share overseas.
Although BYD is best known for its affordable vehicles, the automaker is rapidly expanding its lineup with new pickup trucks, luxury SUVs, and electric supercars.
BYD is also looking overseas to drive future growth. The company is already a leading EV brand in key auto regions like Southeast Asia and Latin America. With new plants planned in Hungary, Pakistan, Mexico, and Turkey, BYD is laying the groundwork to continue its dominant expansion.
After selling more vehicles than Honda and Nissan for the first time in Q2, BYD became the seventh-largest automaker globally.
Uncle Warren has sold off 60+% of his BYD. But it had grown 30 times its purchase price the 30 years he has owned the stock.
It’s not clear whether Buffett and Munger sold BYD stock because they wanted to take profits, free up cash, prune their portfolio, cut their geopolitical risk, or avoid future problems at the company.
We do know he has been selling other stocks, including Apple, raising cash.