BYD In Trouble, Lowers Targets For 2010
Reacting to previously reported bad news, China’s BYD has cut its 2010 sales target by 25 percent to still quite ambitious 600,000 units, reports The Nikkei [sub].
China’s government introduced subsidies for fuel-efficient models in July, and as a result, sales of fuel-efficient compact cars – – -dropped.
Only in China: “Many people appear reluctant to buy now in the hope that even bigger discounts will be introduced in the future,” writes The Nikkei [sub]. BYD dealerships sit on two-months worth of inventory, an outrage in China. Their answer: Discounts. The customers wait some more.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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