BYD's (1211) target cut tells tougher years ahead - Goldman

  <ET Net News Agency, 5 August 2010>  BYD (01211) announced a 25% cut in its 2010 car
sales target from 800k units to 600k units, which Goldman Sachs estimates might not be
easy to fulfill if the new models fail to perform.
  Due to the dominance of its current low-price image, it takes time for BYD to improve
its brand prestige and persuade consumers to purchase the more expensive new models, the
research house added.
  It also noted that BYD's target revision might also suggest tougher years ahead, given
the current total market outlook.
  Goldman reiterated its "sell" rating on BYD with a target price of HK$41.22.