Fast Expansion Hurt BYD, Chairman Says

(Beijing) -- Disorderly expansion, low quality requirements and weak brand awareness were the major problems that slowed private auto manufacturer BYD in recent years, its founder and chairman says.

Wang Chuanfu said at a January 10 press conference that BYD had completed restructuring aimed at fixing major flaws in the company's strategy.

"During the past three years, we made a sincere analysis of our problems," Wang said. "The first change is we will not focus on the number of dealerships, but quality.