Etiqueta: Sales

BYD has slashed its sales target for this year by as much as 16% to 4.6 million vehicles, two people with knowledge of the matter said.

BYD is feeling increasing competitive pressure from rivals such as Geely and Leapmotor, Reuters said.

The company last week reported its first quarterly profit drop in over three years, while rivals like Geely are gaining ground and even raising their own sales targets.

BYD’s Profit Margin Compression and Slowing Growth: A Cautionary Tale for EV Investors

The target remains subject to change depending on market conditions, the people added. The latest target, which has not been previously reported, is below several recently lowered forecasts from analysts. The new target represents a 7% increase from last year and would be the slowest annual growth since 2020, when sales fell by 7%.

Four Chinese brands have made it to the top 10 of all sales in Australia for the first time.

On Monday, shares of Chinese electric vehicle maker BYD tumbled nearly 8% after the company reported a 30% drop in quarterly profit.

BYD's global deliveries totaled 373,626 in August, barely changed from a year earlier.

BYD has achieved its first major milestone in its car business in India, clocking 10,000 units in retail sales. The company reached this figure solely through

Tesla’s Struggling Entry in India and BYD’s Competitive Edge: A Deep Dive into EV Market Dynamics in Emerging Economies