BYD Must Make Inroads Abroad to Grow

Chinese carmaker BYD (Build Your Dream) has enjoyed phenomenal growth in recent years, especially in recent months. In Hong Kong, the manufacturer's shares have soared 66 percent since February last year. 

In June, July and August, the company sold more than 1.1 million electric vehicles, a quarterly record for the company, according to Bloomberg. The challenges remain for the manufacturer, however, as tariffs in Europe and North America will undoubtedly put a damper on its growth ambitions. 

BYD has already established itself as the benchmark for electric vehicles in China. It is on track to overtake Tesla's sales there for the first time. The company's profitability figures will be closely scrutinized when they are released on October 30th. Analysts estimate the Shenzhen-based car and battery maker will post sales of $28.8 billion, an all-time record, ahead of Tesla's $25.2 billion.

The market is expecting record sales from BYD. However, in order for this growth to continue and for the company's shares to continue to shine as they do at the moment, overseas sales will need to grow. 

Which brings us back to the tariffs imposed by the West. 

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