Warren Buffett's Berkshire Hathaway has more than halved its stake in Chinese electric car stock BYD over the last 18 months, filings show.
Warren Buffett's Berkshire Hathaway has more than halved its stake in Chinese electric car stock BYD through successive sales over the last 18 months, filings show. The latest share sale was dated Oct. 25, just days before BYD released record quarterly earnings that prompted a few analysts to raise their price targets. "The auto segment achieved Rmb9.4bn net profit during the quarter, suggesting Rmb11.
Shares are down by about 10% since. Top brand in China BYD is the top brand that consumers in China consider when buying an electric car, Bernstein analysts said in a Nov. 1 report. They cited their proprietary annual survey, conducted across more than 1,500 Chinese consumers in August and September. First-time car buyers and current owners of traditional Chinese, Korean and U.S. brands are more drawn to buy a BYD car next, the Bernstein analysis found.
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