China electric car firm BYD's shares dip on subsidy cuts, sales worries

BEIJING - Shares in Chinese electric car maker BYD Co Ltd fell more than 3 percent on Thursday, weighed down by concerns over government cuts to subsidies on new energy vehicles and the firm’s first-quarter sales, analysts said.

But the comparison seemed skewed, as BYD’s first-quarter profit in 2018 fell sharply on cuts to subsidies for electric vehicles, prompting some analysts to say the forecast profit was below expectations. The company sold 520,000 vehicles last year, up 27 percent from a year earlier. BYD, whose popular models include its Tang-series electric cars, has said it aims to sell 650,000 vehicles this year.

China on Tuesday raised its standards for electric cars that qualify for subsidies and reduced the amount it is willing to provide to relevant companies.

EV is coming fast .$3=300MPC and Clean and Green compared to Fossil fuels , Ethanol people are freaking out , trumps Pushing hard to sell America his Ethanol Promise AKA Agricultural Welfare paying for Farmers Corn votes , Americas realize they don't need his DC Swamp Gas Ripoff

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China to Reduce the Juice for Electric-Car SalesChina is slashing subsidies for electric vehicles, which will test the resilience of a fast-growing EV market that government support helped create. China's electric vehicles have their own market, It will not disappear In my hometown, electric buses have been running for several years, and this phenomenon will become more common 中国政府の補助金カットにより、遂に、大部分の中国電気自動車メーカーが撤退に追い込まれるらしい。 共産党独裁体制の綻びが至る所で表面化しているということだろう。
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