Etiqueta: Sales

This marks the first year-on-year decline in BYD's net income since the first quarter of 2022.

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.

BYD Co.’s profit jumped 14% in the first half on robust demand for its electric vehicles and an aggressive expansion into international markets as it seeks to shake off headwinds at home.

The change will take effect on September 19, significantly lowering the entry barrier for buying BYD shares on the Hong Kong stock market.

The new Denza D9 variants reduce the MPV's starting price from RMB 339,800 to RMB 309,800.

BYD is reaping the consequences of the domestic price war it instigated, but bright spots remain in its Q2 results. By Stewart Burnett

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.

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Cheaper Chinese EVs grab record share in growing market