Etiqueta: Ford

The Canadian government has signalled its 100-per-cent tariffs on China-made EV imports may not be set in stone. But changes risk disrupting the Canadian auto sector and U.S. relations.

There are essentially two different ways a company can account for Research and Development (R&D) spending: as an operating expense that reduces reported net earnings or as a capital expenditure, counted as investing money from net earnings and other sources. One shows up on the income statement, the other shows up on the balance sheet. It might seem like a minor difference, but it can significantly impact financial reporting and how a company approaches R&D.

(Reuters) -BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter said, as the Chinese EV giant faces its slowest annual growth in five years and other signs that its era of record-setting expansion could be drawing to a close. China's largest automaker told analysts in March it was targeting sales of 5.5 million vehicles

STORY: BYD’s era of white hot growth could be coming to an end.Reuters sources say the Chinese EV giant has slashed its sales target for the year by up to 16%.The country’s largest automaker said in March it was targeting sales of 5.5 million vehicles this year.But the sources say that number has been cut repeatedly since then.They say BYD is now aiming for at least 4.6 million unit sales, with that number still subject to change.The company did not respond to a request for comment on the report.If confirmed, the new target would mark a 7% increase from last year, or the firm’s slowest growth since 2020.It comes amid weak domestic demand in the world’s second largest economy.Consumers in China have had their confidence sapped by factors including a deep downturn in the country’s housing market.Now BYD’s numbers will be closely watched.The firm has transformed from an EV upstart to one of the world’s most important automakers in a few short years.Its sales of electric cars and plug-in hybrids grew ten-fold between 2020 and 2024, putting it on par with Ford and General Motors in scale.But the company is showing undeniable signs of a slowdown, especially in China, which accounts for 80% of its sales.BYD has slowed production and put back capacity expansion plans at domestic plants.A Reuters analysis shows its sales of budget cars, which make up the bulk of its home-market demand, fell close to 10% on the year in July.By comparison, local rival Geely saw its sales of cheap autos leap 90% over the same period.

After a slow start to 2025, Tesla's sales are rocketing ahead, potentially putting it on course to overtake BYD later in the year. By Will Girling

BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter said.

The company last week reported its first quarterly profit drop in over three years, while rivals like Geely are gaining ground and even raising their own sales targets.

The target remains subject to change depending on market conditions, the people added. The latest target, which has not been previously reported, is below several recently lowered forecasts from analysts. The new target represents a 7% increase from last year and would be the slowest annual growth since 2020, when sales fell by 7%.

Four Chinese brands have made it to the top 10 of all sales in Australia for the first time.