Overview
- October marked a second straight year-over-year sales decline, with reported totals varying between 441,706 (company) and 429,808 (third-party) even as volumes rose 11.5% from September.
- Third-quarter net profit fell about one-third to CNY 7.8 billion, and gross margin slid to 17.6% versus a year earlier.
- China’s market regulator announced a recall of more than 115,000 BYD vehicles over design and battery-related safety issues.
- Exports rebounded in October after softening post-June record levels, and BYD is expanding abroad with factories under construction in Hungary and Turkey and a planned rollout of roughly 1,000 new European stores next year.
- Domestic rivalry intensified as Geely, Xpeng, and Nio posted record October sales, highlighting pressure on BYD’s home-market momentum.