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BYD sets lower sales growth & warns of looming price war

Teslarati

BYD set lower sales growth goals for 2024, warning of a looming price war and overcapacity in Mainland China’s electric vehicle (EV) sector. BYD Chairman and President Wang Chuanfu held an investors conference earlier this week. The Chinese automaker estimates account for some challenges BYD expects this year.

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BYD is stealing Toyota’s limelight in this key auto market with low-priced EVs

Electrek

China’s largest EV maker, BYD , is quickly making a name for itself in overseas markets. Despite recently entering the Thai auto market, BYD has already surpassed several Japanese rivals in sales as it sneaks up on Toyota’s spotlight.

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China’s BYD tops sales of 3 million EVs in 2023

Electrek

It was a huge year for profits at Chinese auto behemoth BYD. Adding up sales for all so-called new energy vehicles, including battery-only vehicles and plug-in hybrids, BYD sold a whooping 3 million vehicles in 2023. more… The post China’s BYD tops sales of 3 million EVs in 2023 appeared first on Electrek.

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BYD profits decline 47% quarter-over-quarter in Q1 2024

Teslarati

BYD’s profits declined by 47% in the first quarter of 2024 compared to Q4 2023. BYD sold more than 300,000 battery electric vehicles (BEVs) in the first quarter, down from 526,000 in the fourth quarter of 2024. In March 2024, BYD set lower sales growth goals for the year.

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China’s BYD tops 1.6 million BEV sales in 2023

Baua Electric

The Atto-3 SUV / Source: BYD Europe It was a huge year for profits at Chinese auto behemoth BYD. Adding up sales for all so-called new energy vehicles, including battery-only vehicles and hybrids, BYD sold 3 million vehicles in 2023. Tallying up its year-end sales, it’s a massive 62% growth from 2022.

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BYD Chairman forecasts falling profit margins in 2024

Teslarati

BYD Chairman Wang Chuanfu forecasts falling profit margins in 2024 but remains confident that the company will maintain stable profitability. Wang predicted that the intensifying price war in China would result in falling profit margins for BYD. BYD hopes to ensure stable profitability by improving sales. year over year.

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BYD Europe aims to beat Tesla & big EU automakers

Teslarati

BYD Europe aims to beat Tesla and other prominent EU automakers, like Volkswagen and Stellantis. BYD European boss Michael Shu made bold claims during the Financial Times’ Future of the Car Summit. BYD Europe wants to triple its market in the region by 2025. “We are confident that we could be in a leading position.

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