# Chinese electric vehicle maker BYD's quarterly profit fell at its fastest pace since 2020.

*business · news · 2026-04-28 · Devdiscourse*

## Key points

- BYD's first-quarter net profit fell 55.4% year-on-year, the steepest drop since 2020.
- BYD has recorded declining sales for seven consecutive months in its home market.
- China has scaled back trade-in subsidies for entry-level EVs and plug-in hybrids, affecting BYD.
- BYD is aggressively targeting international markets with a 2026 overseas sales goal of 1.5 million units.
- BYD is focusing on ultra-fast charging technology to attract drivers from petrol-powered cars.

**Companies:** BYD, Geely
**Countries:** China

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/technology/3889554-update-2-byd-posts-steepest-profit-drop-in-six-years-as-china-sales-falter)

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