Etiqueta: Tesla

BYD’s Earnings Miss and Margins Under Pressure in a Competitive China EV Market

If you’ve been watching Tesla’s share price, you’re probably wondering what’s next. Some days, it feels like every headline could send the stock soaring or sinking, and the past year has shown just how fast sentiment can change. Tesla’s price has climbed an impressive 55.9% over the last twelve months, despite being down 12.0% year-to-date. That’s quite a roller coaster, and the story behind those moves is anything but boring. The action isn’t just about market mood swings. Tesla caught a...

This incredible growth stock isn't on enough investors' radars.

Key PointsBYD isn’t a household name within the United States largely because it doesn’t do business here.Nevertheless, this EV powerhouse does do business where electric vehicles

BYD's 30% Earnings Drop: A Cautionary Tale for EV Investors?

Yahoo Finance Senior Business Reporter Ines Ferré tracks Friday's top moving stocks and biggest market stories in this Market Minute. Gold (GC=F) is pushing back toward record highs. BYD (BYDDY) stock is slipping after the company reported a decline in quarterly profits. Tesla (TSLA) stock extends declines from the company's continued loss in European auto sales. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.

BYD is set to end the reign of Tesla's electric vehicle dominance with the release of a brand new model to the European market earlier this month

STORY: BYD's quarterly profit fell for the first time in more than three years.The Chinese electric vehicle giant said Friday net profit reached just under $895 million in the second quarter.That was down close to 30% from a year earlier.BYD's expansion was hit by a government campaign against price wars.Beijing has called for a halt to the practice which has hurt profit margins across the industry.However, revenue was up 14% in the three months to June 30th to $28 billion.The biggest Chinese rival to Tesla has faced challenges in recent months.BYD has set a target to sell 5.5 million cars globally this year, but sold 2.49 million in the first seven months, reaching 45% of its goal.BYD generates nearly 80% of its sales in China.It saw vehicle sales fall in its home market for the third straight month in July, while production slid for the first time in 17 months.The automaker has also slowed production and delayed capacity expansions at factories in China.

Chinese carmaker’s revenues also affected by Beijing’s campaign against discounting which has cooled EV price war

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.