BYD Sales Roar to a Record on Price Cuts and Upgrades

(Bloomberg) — BYD Co. Ltd. sold a record number of electric and hybrid cars in the second quarter, as price cuts and new technology encouraged consumers to buy.

China’s best-selling car brand sold nearly 1 million models over the period, according to data compiled by Bloomberg News. This solidified a rebound after a slow start to the year.

The sales were driven in part by the company’s move earlier this year to sacrifice profitability by cutting prices across most models and targeting gasoline models made by foreign brands.