BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Tesla Rival BYD Cuts Sales Target Amid China’s EV Market Pressures
Tesla Rival BYD Cuts Sales Target Amid China’s EV Market Pressures
19
3
BTCCSquare news:
BYD Co., a key competitor to Tesla in the electric vehicle sector, has slashed its full-year sales target by 16% to 4.6 million vehicles, down from an earlier projection of 5.5 million. The revision follows a 30% quarterly profit decline and stagnant deliveries in July and August, as rivals gain traction with cheaper mass-market models.
Beijing's crackdown on heavy discounts has further constrained BYD's ability to defend market share. Bernstein analyst Eunice Lee termed the adjustment a 'near-term clearing event,' noting the new target aligns with investor expectations. The coming peak sales season will test BYD's capacity to compete without reliance on aggressive price cuts.
By:
