BYD net profit falls 55% in first quarter amid weak China EV sales
Updated
Updated · The Wall Street Journal · Apr 28
BYD net profit falls 55% in first quarter amid weak China EV sales
3 articles · Updated · The Wall Street Journal · Apr 28
Summary
BYD reported a net profit of 4.08 billion yuan ($598 million) for Q1 2026, with revenue dropping 12% to 150.23 billion yuan.
The decline is driven by sluggish domestic demand, stiff competition, and downbeat consumer sentiment, despite strong overseas sales and surging exports, especially to Europe.
BYD’s results highlight intense price wars in China’s EV market, but its growing international presence underscores its transition from a domestic leader to a global brand.