BYD Quarterly Profit Decline as Exports Can’t Offset China Slump

BYD quarterly profit decline with Q3 profit fell 32.6% to $1.1 billion as China price war hit margins, but forecast exports to double.
A BYD car carrier ship offloads vehicles in Bremerhaven, Germany, on February 26, 2024. BYD quarterly profit decline with Q3 profit fell 32.6% to $1.1 billion as China price war hit margins, but forecast exports to double. (Photo: FOCKE STRANGMANN / AFP)

BYD quarterly profit declined after price cuts to fight slowing domestic demand; export growth couldn’t fully offset the China slide.

Net profit for the three months to September was $1.10 billion, down 32.6% from $1.64 billion a year earlier, BYD said in a filing in Hong Kong on Thursday. It was the second straight quarterly decline and the biggest fall in more than four years.

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by Edwin Shri Bimo

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