BYD "hits a sticky patch" as company falls well short of production goals

BYD Auto, the Chinese automaker known for its sometimes outlandish forward-looking predictions, is reported to have "hit a sticky patch" as sales have stalled and the company's dream of selling 800,000 vehicles in 2010 appears to have been dashed by lack of demand. According to data gleaned from J.D. Power & Associates, BYD's sales are up a paltry three percent through June of this year compared to the first half of 2009.

The modest increase in sales is overshadowed by other difficulties encountered by BYD. As the Wall Street Journal reports, sales of BYD's F3, the company's most popular vehicle in 2009, dropped 30 percent for the first half of 2010. In addition, by the halfway point of 2010, BYD had only sold 36 percent of its targeted 800,000 units for the entire year. All hope is not lost though, as BYD is still on track to comfortably exceed sales numbers posted for 2009. Still, the company's lofty production targets look to remain beyond its reach for now.

[Source: Wall Street Journal – sub. req. via Green Car Advisor]