BYD’s Growth Slows as China’s Auto Price War Takes a Toll

(Bloomberg) — BYD Co. Ltd. reported its weakest revenue growth in more than a year in a potential sign of the damage discounting has done in China, the world’s biggest auto market.

Revenue rose 67% to 140 billion yuan ($17.8 billion) in the three months ended June, the smallest gain since the first quarter of 2022, according to Bloomberg calculations based on first-half earnings published Monday. Net income more than doubled to 6.8 billion yuan after the company sold a record number of plug-in hybrid and fully electric vehicles (EVs).