Buffett-backed BYD sees China auto sales up 20 pct this yr

BEIJING, April 22 (BestGrowthStock) – BYD (1211.HK: ), China’s eighth
largest car maker, expects China car sales to grow about 20
percent this year, fueled by continuing government incentives
implemented at the height of the global financial crisis.

The growth will be fueled in part by strong demand from
China’s smaller cities, which is expected to continue over the
next five years, said Henry Li, general manager of the export
division for BYD, backed by U.S. billionaire investor Warren
Buffett.

He made his comments at an industry forum timed just before
the start of this year’s Beijing auto show, China’s largest.

His remarks echoed earlier ones at the forum from a
government researcher, who also predicted China’s car sales would
grow 20 percent this year. [ID:nBJD003677]

Stock Market Money

(Reporting by Doug Young; Editing by Ken Wills)

Buffett-backed BYD sees China auto sales up 20 pct this yr