Overview
- Net profit fell about 33% to roughly 7.8 billion yuan in the third quarter, with revenue down around 3% to about 195 billion yuan, missing analyst estimates.
- BYD delivered approximately 1.11 million new-energy vehicles in the quarter, slightly lower year on year and quarter on quarter.
- European momentum strengthened, with 24,963 September registrations reported by ACEA, narrowing the gap with Tesla’s 39,837 as Tesla’s sales declined 10.5% year on year.
- The company is expanding its European footprint, targeting 2,000 showrooms in 2026 and building a local supply chain for regional production.
- Management has trimmed the 2025 sales target to 4.6 million vehicles as domestic demand softens, even as overseas sales grew about 160% year on year in the quarter.