Etiqueta: Industry

Byd Company Limited ( ($BYDDY) ) has released its Q2 earnings. Here is a breakdown of the information Byd Company Limited presented to its investor...

BYD's 30% Earnings Drop: A Cautionary Tale for EV Investors?

Yahoo Finance Senior Business Reporter Ines Ferré tracks Friday's top moving stocks and biggest market stories in this Market Minute. Gold (GC=F) is pushing back toward record highs. BYD (BYDDY) stock is slipping after the company reported a decline in quarterly profits. Tesla (TSLA) stock extends declines from the company's continued loss in European auto sales. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.

China successfully subsidized a massive expansion of its auto industry; now it has more cars than customers.

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.

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.

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.

Year-to-date, 1,011,903 new battery-electric cars were registered, capturing 15.6% of the EU market share,  an increase from the low baseline of 12.5% in July 2024.

It may be easy to dismiss initial numbers in emerging markets as being relatively small in quantity and purchasing power. But those markets are developing as the people within them develop. Establishing brand preference and tying the brand to the economic emergence of these countries has an impact that extends far beyond monthly sales rankings. Electric vehicles are the future, and BYD can make their brand most associated with that future. The opportunity exists to establish long-lasting brand preference that can span generations, if BYD can take advantage of it.

EVs and hybrids gain traction, but China's BYD edges out Tesla for market share