business / news / / CNBC TV18
BYD Co. raised discounts to a record 10% in March as China’s EV price war deepens.
BYD raised average discounts on its vehicles to a record 10% in March 2024.
KEY POINTS
- BYD's net debt-to-equity ratio has climbed to 25% after being negative for four years.
- BYD recently reported its first annual profit decline since the pandemic began.
- China's car factories are running at about 50% capacity, with significant overproduction.
- China's EV exports more than doubled to a record high in March, prompting tariff increases abroad.
COMPANIES
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