BYD Q3 Earnings Miss Estimates Amid Domestic Slowdown, Pivots to Overseas Growth
BYD's third-quarter net profit plummeted 33% to 7.82 billion yuan ($1.10 billion), falling short of the 9.02 billion yuan analysts anticipated. Revenue declined 3.05% to 194.98 billion yuan against expectations of 215.30 billion yuan, as China's EV price war and cooling demand squeezed margins.
The automaker recorded its first quarterly domestic sales drop since 2020, with a 2.1% contraction in Q3. While some analysts suggest BYD may be nearing a trough, the outlook for Q4 recovery remains uncertain. Year-to-date figures show net profit down 7.6% despite a 12.7% revenue increase.
Europe emerges as a bright spot, with September registrations surging nearly fivefold to 24,963 vehicles. This overseas push reflects BYD's strategic shift to counter softening home demand, transforming from a budget EV Maker into a global premium contender.
