Etiqueta: Europe

Tesla's Chinese competitor BYD recorded a 73 per cent jump in fourth-quarter profit on Monday and said its annual revenue for 2024 crossed the $100 billion US mark, surpassing the U.S. automaker.

BYD has surpassed Tesla in annual revenue for the first time since 2018, reporting 777 billion yuan ($107 billion) in sales for 2024.

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The firm’s new energy vehicles have continued to experience "strong growth", with sales increasing by over 40% year-on-year.

Tesla sales in Europe fell 44% last month, year-on-year, while Chinese automaker BYD this week said its 2024 sales surpassed $100 billion for the first time.

China’s BYD recorded revenues of 777 billion yuan ($107 billion) for 2024, surging ahead Elon Musk’s Tesla in annual sales amid intensifying competition in the global market for clean-energy cars.

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In the fourth quarter of 2024 BYD’s profits surged by 73 per cent, filings show

Hyundai (HYMTF) is planning to expand in the US, with the automaker set to spend about $21 billion in the US through 2028. Additionally, shares of Chinese automaker BYD (BYDDY) jumped as the company reported better-than-expected earnings results, beating Tesla's (TSLA) full-year 2024 sales. Yahoo Finance Senior Reporter Pras Subramanian joins Market Domination hosts Julie Hyman and Josh Lipton to discuss Hyundai's expansion, BYD's earnings, and declining Tesla sales in Europe. To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

China’s BYD beat estimates after sales topped the $100 billion mark for the first time last year. Even with lower-priced...