Chinese automaker BYD Automobile Co. Ltd. has received some very welcome revenue from the Cuban government, which has ordered 719 fuel-burning cars from the company to rent out to visiting tourists.
Automotive News reports that the deal is made important by the fact that Chinese automotive exports have remained weak, even while manufacturers like BYD Automobile have seen reliable domestic growth. Chinese automakers sold 1.9 million cars through the month of May, 2015, with only around 70,800 of those being exported to other markets.
From January through May of this year, reports AN, Chinese automotive exports decreased a staggering 13 percent compared to the same 5-month period last year.
What small amount of exports BYD Automobile and other Chinese carmakers do manage are typically to developing countries, but each is a volatile market. The China Association of Automobile Manufacturers has found that factors from economic instability in Russia, to evolving foreign exchange policies across South America and Africa have all played a part in hindering China’s automotive exports.
BYD Automobile – a sibling to BYD Electronic – is perhaps better known for its hybrid and electric vehicles, rather than its conventional fuel-burning models. Its plug-in hybrid models include the F3DM and Qin sedans, and the company also produces the e6 pure-electric MPV.