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BYD's Annual Profit Drops for First Time in Four Years as Price War Hurts Margins
Profit fell 19% to $4.7 billion due to fierce domestic competition, weaker sales, and subsidy cuts despite record revenue of $116 billion, BYD said on Friday.
- On Friday, Shenzhen-based BYD reported its first annual profit drop since 2021, with net profit falling 19% to 32.6 billion yuan amid intense domestic price competition.
- Chairman Wang Chuanfu wrote in the earnings report that competition in the new energy vehicle industry has reached a 'fever pitch,' characterizing it as a 'brutal 'knockout stage'.'
- Although revenue grew 3.5% to 804 billion yuan in 2025, the automaker disclosed a workforce reduction of 10.2% to 869,622 employees, reflecting cost pressures.
- BYD aims to sell around 1.3 million vehicles overseas in 2026, up from about 1.05 million last year, prioritizing international expansion to offset domestic weakness.
23 Articles
23 Articles
Associated Press News
China's BYD sees first profit drop since 2021, even as the Tesla-rival takes global EV crown
Chinese automaker BYD reports its annual revenue rose to a record $116 billion last year, outpacing Tesla's, but profit fell for the first time since 2021 under pressure from cutthroat competition.
China's BYD sees 1st profit drop since 2021, but Tesla-rival takes global EV crown
Chinese automaker BYD reports its annual revenue rose to a record $116 billion last year, outpacing Tesla's, but profit fell for the first time since 2021 under pressure from cutthroat competition
BYD, now the world's largest electric car maker, reported its first annual profit decline in four years as a brutal price war in the Chinese market puts the company under increasing pressure as its growth engine shifts increasingly towards exports, the Financial Times reported.
BYD’s Winning Streak Ends! First Profit Drop in 4 Years
BYD’s annual profit fell 19 per cent to £3.6 billion. Workforce cut by over 10 per cent as growth slows. Rising competition and subsidy changes hit sales momentum.BYD, China’s largest electric carmaker, has reported its first annual profit decline in four years, signalling a shift in momentum for the country’s fast-growing electric vehicle market.The company said net profit fell 19 per cent to 32.6 billion yuan, roughly £3.6 billion, missing ana…
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