BYD Slumps After Scaling Back Production, Rising Inventories, Slower Sales Growth BYD stock and its U.S. listed ADRs slumped about 3% on Wednesday this week, after it was reported the vehicle manufacturer was cutting production. China’s top automaker is scaling back production at several factories due to rising vehicle inventories and slower-than-expected sales growth, multiple outlets including Reuters and CarNewsChina reported. The company has canceled night shifts and delayed adding new production lines, reducing output at at least four factories by about one-third. “There were two reasons for the mentioned actions: saving costs and failing to meet targets,” two sources… — Continue at ZeroHedge News : Read More
