Chart of the Day: Price War Takes Toll on BYD’s Profits
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
China’s aggressive price war has finally taken a toll on BYD Co. Ltd., as the country’s top electric-car firm reported its first quarterly profit decline in more than three years.
The Shenzhen-based carmaker reported a net profit of 6.36 billion yuan ($891 million) for the June quarter, down nearly 30% from a year earlier, according to data compiled by financial information provider iFinD. In the same period, revenue grew 14% to 200.92 billion yuan.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
What Happened When
- Third quarter of 2022：
- BYD's gross profit margin was at its previous lowest level before hitting a new low in June 2025.
- 2023：
- BYD actively participated in the price war by cutting prices.
- Early 2025：
- BYD decided to include limited self-driving capabilities in more affordable models, increasing costs.
- May 2025：
- BYD cut prices, offering up to 53,000 yuan discounts on 22 models equipped with assisted driving systems.
- May 2025 to July 2025：
- BYD's domestic vehicle sales declined for three consecutive months, from 293,429 vehicles in May to 263,559 in July.
- June 2025：
- BYD and several other major carmakers pledged to pay all suppliers within 60 days to support supply chain stability.
- First half of 2025：
- BYD reported a 50.5% increase in overseas revenue to 135.36 billion yuan.
- June quarter of 2025：
- BYD reported a net profit decline (6.36 billion yuan), the first quarterly profit drop in over three years.
- First seven months of 2025：
- BYD achieved 45% of its global 2025 sales target and sold about 545,000 vehicles abroad.
AI generated, for reference only
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新