Etiqueta: Tesla

BYD reached a new monthly sales record in Germany for the second consecutive month in October, with figures surpassing 3,000 units again.

The Chinese EV maker has denied it is stockpiling vehicles to exploit a new government kickback. Read more.

China's breakout EV giant now outsells Tesla in one of Europe's top electric car markets--and the gap is widening fast

Electrified vehicles overtake diesel-only counterparts in October, according to the SMMT trade body, as automotive manufacturers near government target

BYD surpasses Tesla in European EV sales, driven by rapid demand, strong pricing, and expanding market presence.

Hybrids slide 31%, weighing on overall performance despite EV gains.

BYD launches the Sealion 8 in Australia, revealing features, pricing and incentives as it takes on Tesla's dominance in the family EV market.

When Chinese automakers expand overseas, the real battleground lies not on exhibition stands but in people's hearts.

Support CleanTechnica's work through a Substack subscription or on Stripe. BYD had mixed results in October when it comes to vehicle sales. On the one hand, its full battery electric vehicle (BEV) sales were up solidly, +34.5% year over year. That’s the number pure EV fans are most interested in, ... [continued]

BYD announced its 3Q results at the end of October. Revenue was down 3%, while net profit was down 32.6%. Overall, that does not look good compared to their recent growth and fell short of expectations. But it gets more interesting when you get into the details.Not only did R&D expenses go up 31%, but development capital expenditures went up a whopping 519.65% YoY “Mainly due to the increase in in-house R&D investments.” Most of their research and development is still accounted for as expenses (43.75 billion RMB versus 3.15 billion RMB), but that is clearly a significant increase. In combination, R&D was roughly twice net profits, and net profit would have gone up if R&D was flat.Inventory was up 31.83%, due mainly “to the augmentation of automobile business.” In other words, updated product that has not yet been delivered.“Contract liabilities” went up by 40.29% YoY, “mainly due to the increase in advance receipts of the automobile business.” In other words, deposits taken on vehicles that have not yet been delivered. Having obligations to deliver vehicles that have already received deposits is overall a good kind of liability.Non-current assets were up 50.36%, while long-term receivables were up 54.90%, mainly due to increases in leasing. This foreshadows future revenue.The balance sheet overall saw a significant improvement, with assets up 15.14% and shareholder equity (assets minus liabilities) up 32.53%. Construction in progress was up 144.15%, with several global factories being built, as well as the world’s largest R&D center. However, borrowing is up while payables are down, with shifts on the balance sheet likely reflecting shorter payment terms in vendor contracts.