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BYD posts steepest profit drop in six years as China sales falter
- On Tuesday, Chinese electric vehicle maker BYD reported a 55% decline in first-quarter net profit, reaching 4.08 billion yuan as sluggish domestic sales and intensifying competition weighed on earnings.
- Revenue fell 11.8% to 150.2 billion yuan as BYD faced a prolonged domestic slump. Authorities recently phased out certain consumer subsidies for new-energy vehicles, further diminishing local demand.
- BYD exported 120,083 units in March, marking the fifth consecutive month of shipments exceeding 100,000 vehicles. Rising overseas sales help offset the ongoing domestic market weakness.
- At the ongoing Auto China show, BYD kicked off pre-sales for its Datang full-size electric SUV, targeting European premium brands. The company remains confident in reaching a 2026 overseas sales target of 1.5 million vehicles.
- Macquarie Capital analyst Eugene Hsiao noted "BYD needs domestic sales volumes to pick up sequentially in Q2" for profits to improve. Analysts project total vehicle sales will grow about 12% this year.
36 Articles
36 Articles
The Financial Times reports that Chinese electric vehicle manufacturer BYD's profits fell by half in the first quarter.
BYD is experiencing a sharp drop in profits and is now increasingly focusing on foreign markets.
The Chinese car manufacturer BYD experienced a sharp drop in profits in the first quarter of the year. The manufacturer of both electric and hybrid cars saw its profit fall its sharpest in six years in the first three months of 2026. The bottom line showed just under $600 million, more than 55 percent less than a year earlier.
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- 55% of the sources lean Right
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