business / news / / Reuters
BYD's first-quarter net profit dropped 55.4% from a year earlier to 4.1 billion yuan ($599.46 million) Revenue fell 11.8% to 150.2 billion yuan, extending a declining streak.
BYD's Q1 net profit dropped 55.4% year-on-year to 4.1 billion yuan.
KEY POINTS
- BYD's sales have declined for seven consecutive months despite strong overseas shipment growth.
- BYD is focusing on ultra-fast charging technology to attract drivers from petrol-powered vehicles.
- BYD launched pre-sales of its Datang electric SUV, targeting the premium segment at the Beijing auto show.
- Overseas sales are projected to grow 25-30% in 2024, but may not offset domestic weakness.
COMPANIES
Summarized by Newsio from Reuters. How we summarize →