Etiqueta: Exceed

BYD confirmed its new 5.2-meter Dynasty flagship SUV will launch in Q2 2026 after an internal schedule change driven by competition.

The situation in Croatia reflects the global market. Last year, China's BYD surpassed Tesla, run by Elon Musk, for the first time

Spy photos of a large BYD sedan have prompted speculation about a 5.2-meter body, new styling language, and updated hybrid technology.

BYD is taking the long view, as it seeks to expand sales and production to many countries in Europe, South America, and the Middle East.

BYD announced its 3Q results at the end of October. Revenue was down 3%, while net profit was down 32.6%. Overall, that does not look good compared to their recent growth and fell short of expectations. But it gets more interesting when you get into the details.Not only did R&D expenses go up 31%, but development capital expenditures went up a whopping 519.65% YoY “Mainly due to the increase in in-house R&D investments.” Most of their research and development is still accounted for as expenses (43.75 billion RMB versus 3.15 billion RMB), but that is clearly a significant increase. In combination, R&D was roughly twice net profits, and net profit would have gone up if R&D was flat.Inventory was up 31.83%, due mainly “to the augmentation of automobile business.” In other words, updated product that has not yet been delivered.“Contract liabilities” went up by 40.29% YoY, “mainly due to the increase in advance receipts of the automobile business.” In other words, deposits taken on vehicles that have not yet been delivered. Having obligations to deliver vehicles that have already received deposits is overall a good kind of liability.Non-current assets were up 50.36%, while long-term receivables were up 54.90%, mainly due to increases in leasing. This foreshadows future revenue.The balance sheet overall saw a significant improvement, with assets up 15.14% and shareholder equity (assets minus liabilities) up 32.53%. Construction in progress was up 144.15%, with several global factories being built, as well as the world’s largest R&D center. However, borrowing is up while payables are down, with shifts on the balance sheet likely reflecting shorter payment terms in vendor contracts.

BYD delivered 436,856 passenger vehicles in October 2025, led by Qin and Seal models. The Dynasty and Ocean series dominated sales as usual, while Fangchengbao, Denza, and Yangwang strengthened premium segments.

BYD’s EU sales jumped 272% in September while Tesla’s fell 10.5%. The surge boosts the Chinese lead ahead of global expansion.

The Sealion 06 is replacing the discontinued Song Plus -- the only model in BYD's Ocean series named after a Chinese dynasty.