Chinese carmaker BYD reports rising revenue, net profit from Jan.-Sept.

SHENZHEN, Oct. 31 (Xinhua) -- Chinese auto company BYD registered increasing revenues and net profits in both the first nine months and the third quarter of this year, the company said on Wednesday.

The Shenzhen-based company's revenue for the January-September period was 502.25 billion yuan (about 70.35 billion U.S. dollars), up 18.9 percent year on year. Its net profit during the period increased 18.1 percent year on year to 25.24 billion yuan.

In the third quarter, BYD's revenue increased by about 24 percent and its net profit by 11.5 percent, the company said in its quarterly report.

A leading producer of electric cars and hybrid vehicles, BYD's auto sales surpassed 2.74 million units in the first three quarters, with its September sales hitting a monthly record of 419,400 units.

The company said its exports of new energy passenger cars doubled to 298,000 units in the first nine months, and it has entered 96 countries and regions around the world.

BYD is one of many NEV producers that have seen booming sales as China, which has the largest number of motor vehicles in the world, continues its transition toward greener technology.

China's NEV output between January and September was 8.3 million units, representing annual growth of 31.7 percent, according to the China Association of Automobile Manufacturers.  ■