BYD slashes sales target

Chinese car and battery maker BYD Co. slashed its 2010 auto-sales target by 25%, due to what it described as softening demand for cars and production constraints because of an increased focus on larger cars. BYD reduced its car sales target for 2010 to 600,000 from 800,000 units, following a review of market demand in China and available capacity at its production facilities, according to Henry Li, general manager of BYD’s auto export trade division. (August 5, 2010)