BYD May Report Record Third-Quarter Profit on Surging Auto Sales

(Bloomberg) — BYD Co., China’s top maker of electric cars, said it expects net income for the third quarter to come in as high as 11.5 billion yuan ($1.6 billion) despite slowing growth in sales of new-energy vehicles across the country.

Shenzhen-based BYD reported preliminary net income for the period ended Sept. 30 of 9.55 billion yuan to 11.5 billion yuan, according to an exchange filing late Tuesday. Preliminary net income for the nine months may be between 20.5 billion yuan and 22.5 billion yuan, it said.