Overview
- October marked a second consecutive year-on-year drop in global sales, even as year-to-date deliveries reached roughly 3.6–3.7 million vehicles.
- Third-quarter net profit fell about one-third to 7.8 billion yuan, with gross margin down to 17.6% from a year earlier.
- Battery-electric models accounted for just over half of October registrations, outpacing BYD’s plug-in hybrids as PHEV volumes weakened.
- Overseas shipments rebounded in October and the company is accelerating its international push, including factories under construction in Hungary and Turkey and plans to expand retail in Europe.
- Domestic headwinds intensified as Geely, Xpeng, Nio and others set October delivery records, and China’s market regulator announced BYD’s largest recall, covering more than 115,000 vehicles.