BYD announced last Tuesday that it has decreased its sales target this year from 800,000 units to 600,000 units.

According to an insider from the company's sales department, BYD began cutting output in June in a move to reduce inventory.

The adjustment comes as a response to a slowing car market, inadequate sales and a deterioration in the company's brand image, the insider added.

BYD Chairman Wang Chuanfu and his management team plan to focus more on improving the company's product quality and brand image than increasing sales volume. The company will launch the higher-grade L-series in the near future.

China's business press carried the story above on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.