BYD Tang

BYD Tang

BYD is on the raise with over 5,000 plug-in car sales sold in the single month of July.

According to The Standard, with around 20,000 New Energy Cars sold in the first half of the year, the Chinese company now targets 60,000 in 2015.

To achieve the goal of 60,000 sales, BYD must sell some 40,000 in second half of the year, which means an unprecedented average of over 6,500 a month. Because sales aren't flat but growing, peak months could be 7,000 or 8,000 this year.

BYD chairman and president Wang Chuanfu said:

"June and July make up the slack sales period for the auto sector. BYD will launch new SUV cars in the second half to counter a slower pace in sales growth for traditional-fuel cars."

This new SUV is the plug-in hybrid Tang, but BYD is developing other SUVs like Song compact SUV and Yuan micro SUV too.

Separately, BYD posted a net profit of 466.7 million yuan ($73 million) for first half of the year out of nearly 31.6 billion yuan ($4.8 billion) in revenues (up 18%).

Source: The Standard