Etiqueta: Sales

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

BEIJING (Reuters) -Chinese electric vehicle (EV) maker BYD posted its weakest quarterly profit growth since 2022 on Monday while its revenue growth slowed to the lowest level in nearly four years, hit by slowing EV demand and a bruising price war in the world's largest auto market. First-quarter net profit was up 10.6% at 4.57 billion yuan ($631.08 million) while revenue grew by 4% to 124.94 billion yuan, BYD said in a stock market filing. With a brand portfolio at different price points, BYD has ramped up efforts to move upmarket while doubling down on discounts to vie for cautious consumers amid a sputtering economic recovery.

BYD reported net profit of RMB 4.57 billion in the first quarter, up 10.62 percent year-on-year, but down 47.33 percent from the fourth quarter of 2023.

S&P Global Ratings What’s Happening Why It Matters Looking Ahead Bottom Line Source: S&P Global Ratings

Musk is viewed in China as a favourable contrast to the stern statements from US officials, particularly during the recent visit by US Secretary of State Antony Blinken. View on euronews

2024 Beijing Motor Show: Elon Musk Ditches India Visit, Goes to China Instead, Elon Musk's Choice: Beijing Motor Show Over India Visit Signals Strategic Focus on China and more at news18.com