Automundo China
All-new Chery QQ3 EV debuts in China as part of the...
The official market launch could be as early as the end of this year, and it will compete directly with the Geely Geome Xingyuan electric hatchback.
The post All-new Chery QQ3 EV debuts in China as part of the QQ series revival appeared first on CarNewsChina.com.
BYD Profits Plummet as China’s Price War Hits the Top Player
China successfully subsidized a massive expansion of its auto industry; now it has more cars than customers.
BYD’s quarterly profit falls for first time in 3-1/2 years
STORY: BYD's quarterly profit fell for the first time in more than three years.The Chinese electric vehicle giant said Friday net profit reached just under $895 million in the second quarter.That was down close to 30% from a year earlier.BYD's expansion was hit by a government campaign against price wars.Beijing has called for a halt to the practice which has hurt profit margins across the industry.However, revenue was up 14% in the three months to June 30th to $28 billion.The biggest Chinese rival to Tesla has faced challenges in recent months.BYD has set a target to sell 5.5 million cars globally this year, but sold 2.49 million in the first seven months, reaching 45% of its goal.BYD generates nearly 80% of its sales in China.It saw vehicle sales fall in its home market for the third straight month in July, while production slid for the first time in 17 months.The automaker has also slowed production and delayed capacity expansions at factories in China.
Tesla Rival BYD Reports Earnings Tumble 30%. The Stock Is Selling...
China EV giant BYD reported a 30% drop in net income, far below Q2 views. It was the Tesla rival's first year-over-year decline since Q1 2022.
BYD profits fall as mainland price war swamps EV export surge
Second-quarter profits drop 30 per cent for the world’s largest EV maker, despite 145 per cent year-on-year rise in overseas deliveries.
BYD’s First-Half Profit Rose, Margin Narrowed
The Chinese auto giant’s results come amid concerns the company won’t meet its sales target for the year.
BYD misses quarterly earnings forecasts due to supplier payments crackdown
Chinese carmaker’s revenues also affected by Beijing’s campaign against discounting which has cooled EV price war
Electric vehicles reach tipping point in China, surge to 51% market...
Electric vehicles have reached a tipping point in China. They now represent the majority of the new car market, surging...
BYD sees net income drop 30% in Q2 as competition intensifies
This marks the first year-on-year decline in BYD's net income since the first quarter of 2022.
BYD’s quarterly profit falls for first time in 3-1/2 years as...
BEIJING (Reuters) -Chinese electric vehicle maker BYD's quarterly profit fell for the first time in more than three years, as its expansion hit a speed bump amid a government campaign against price wars. Net profit at the world's biggest EV producer totalled 6.4 billion yuan ($894.74 million) in the second quarter, it reported on Friday, down 29.9% from a year earlier, after rising 100.4% in the first quarter. The biggest Chinese rival to Tesla has faced challenges in recent months as Chinese authorities have called for a halt to a bruising price war in China that has pressured profit margins across the entire industry.
