Etiqueta: Sales

Tesla CEO Elon Musk meets with Chinese Premier Li Qiang to discuss cooperation and competition in the electric vehicle market.

STORY: China's BYD posted its weakest quarterly profit growth since 2022 on Monday (April 29).Revenue growth also slowed to its lowest level in almost four years.The electric vehicle maker was hit by slowing demand and a price war in the world's largest auto market.First-quarter net profit was up around a tenth at just over $631 million, while revenue grew 4% to $17.25 billion.The quarterly results suggest BYD still pulled ahead of U.S. rival Tesla.Elon Musk's company recently reported its first quarterly revenue fall since 2020.BYD has ramped up efforts to move upmarket while doubling down on discounts.It aims to find cautious consumers amid a sputtering economic recovery.The push to sell to higher-end segments came alongside an intensified price war in China.It has led BYD to slash prices since February on the latest versions of its lineup by 5% to 20%.The auto giant is targeting an annual sales jump of a fifth this year.But, outside of big-hitters like Tesla, BYD is also under pressure from local EV upstarts betting big on an all-electric future.

Chinese brand admits it needs to educate Aussies about its plug-in hybrid tech; plays down potential EV buyer backlash

Chinese Premier Li Qiang told Musk that he hopes the US will work more with China on “win-win” cooperation, citing Tesla's operations in China as a successful example of economic cooperation

(Bloomberg) -- Chinese automaker BYD Co.’s first-quarter revenue missed estimates as aggressive price cuts across most of its lineup ate into its financial performance.Most Read from BloombergTesla Soars on Tentative China Approval for Driving SystemStocks Trade for 390 Minutes a Day. Increasingly, Only 10 MatterUS Warns ICC Action on Israel Would Hurt Cease-Fire ChancesYen Sparks Intervention Suspicion After U-Turn From 1990 LowsWhat 60,000 Headlines Say About the Fed’s Next MoveNet income rose

The e:NP2 is now on sale from GAC Honda Automobile

The e:NS2 will be sold by Dongfeng Honda from June 2024

China's BYD shows effects of price war with weaker profit growth