China’s Top Car Brand BYD Confirms Record Quarterly Profit

(Bloomberg) --BYD Co., China’s top-selling car brand, reported a record quarterly profit Monday, rounding out its best period ever for electric vehicle sales despite a sectorwide slowdown.

Net income grew 82% from the same time last year to 10.4 billion yuan ($1.4 billion) in the three months through September, in line with the company’s preliminary guidance earlier in October. Revenue rose 38% to 162 billion yuan.