Etiqueta: Rising

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.

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Tesla’s sales freefall in Europe continues. The American automaker’s sales declined by 40% in July, while BYD’s increased by 225%....

Tesla's troubles across the pond in Europe are worsening. Per the European Automobile Manufacturers' Association, Tesla EV registrations (a proxy for sales) in Europe fell to just 8,837 units in July, a 40.2% drop compared to a year ago. Meanwhile, overall EV registrations in the region, which includes the UK and the European Free Trade Association, rose 33.6% in July, with overall registrations up 5.9%.

Se proyecta que el tamaño del mercado de vehículos eléctricos de China registrará una tasa compuesta anual del 18.4% durante el período de pronóstico.

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