BYD Faces Mounting Challenges as Domestic Sales Decline

The Chinese electric vehicle manufacturer BYD is navigating its most difficult period in recent years. Third-quarter earnings revealed a sharp downturn, with net profit plunging 32.6% to 7.8 billion yuan. This represents the most significant quarterly decline the company has reported in over four years. Furthermore, quarterly revenue contracted for the first time in more than five years, falling 3.1% to 195 billion yuan.

These financial results highlight the intense pressure on BYD’s previously dominant position within the electric vehicle sector. As the company scrambles for effective countermeasures, competitive forces in the market continue to intensify.

In a significant operational shift, BYD is dismantling its controversial Dilian payment network. The company announced on Read more...