Chinese EV giant BYD says Q3 profit down 33%

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BYD said its net profit for the third quarter was 7.8 billion yuan ($1.1 billion), a decrease of 32.6% compared to the same period last year and its second consecutive quarterly decline.

Image for Chinese EV giant BYD says Q3 profit down 33%
Chinese electric vehicle giant BYD said on Thursday its third-quarter profit had slumped by 33% year-on-year, with sluggish domestic consumption piling pressure on the carmaker as it looks to expand overseas.

BYD said its net profit for the third quarter was 7.8 billion yuan ($1.1 billion), a decrease of 32.6% compared to the same period last year and its…



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Chinese EV giant BYD says Q3 profit down 33%


Synopsis

BYD said its net profit for the third quarter was 7.8 billion yuan ($1.1 billion), a decrease of 32.6% compared to the same period last year and its second consecutive quarterly decline.

Image for Chinese EV giant BYD says Q3 profit down 33%
Chinese electric vehicle giant BYD said on Thursday its third-quarter profit had slumped by 33% year-on-year, with sluggish domestic consumption piling pressure on the carmaker as it looks to expand overseas.

BYD said its net profit for the third quarter was 7.8 billion yuan ($1.1 billion), a decrease of 32.6% compared to the same period last year and its…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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