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BYD electric car sales jump, but profits nearly halve as EV price war bites

The Driven EV News

BYD's had an impressive start to 2024 with international sales steadily growing and expansion plans well underway. But its profits have nearly halved because of the EV price war. The post BYD electric car sales jump, but profits nearly halve as EV price war bites appeared first on The Driven.

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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 Seal chases down Model 3, as Australian EV sales cool and customers turn to ICE

The Driven EV News

EV sales stall in April despite price cuts across the market, and as the BYD Seal nearly catches the Model 3. The post BYD Seal chases down Model 3, as Australian EV sales cool and customers turn to ICE appeared first on The Driven.

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BYD issues substantial EV price cut, hoping to erode Tesla sales success

Teslarati

BYD has announced a significant price cut on its electric Seal sedan as the Chinese brand looks to decrease Tesla’s EV dominance in the region. With the tsunami of demand for EVs in China, one of the biggest market winners has been BYD, which is now working to become the top EV seller in the country.

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Chinese EV leaders BYD and NIO achieve record EV sales as price war looms

Electrek

Several leading Chinese EV makers, including BYD and NIO, posted strong sales results this week. NIO hit a new record in Q3, while BYD continued its dominant streak with record-breaking EV sales in September.

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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. China’s ongoing EV price war has affected economic growth as automakers compete for more market share.

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BYD unfazed by Tesla price cut, reports massive profit increase in Q4

Teslarati

1 & 2 – updated to reflect mathematical accuracy BYD has apparently been unfazed by Tesla’s dramatic price cut at the beginning of the year, as it has reported an 11-fold profit increase in Q4 year over year. BYD earned a net profit of $1.06 BYD earned a net profit of $1.06 Update: 11:48 AM ET: para.

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