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BYD's Q3 net profit fell 33% year-on-year amid declining sales and competition, though international growth and R&D continue.
Chinese electric vehicle maker BYD reported a 33% year-on-year drop in third-quarter net profit to 7.8 billion yuan, marking its second straight quarterly decline, amid falling domestic demand, intense competition, and a 3.1% revenue drop.
The company saw its market share in China fall to 14% from 18% a year earlier, its first quarterly sales decline since 2020, and reduced its 2025 sales target by 16%.
Despite challenges at home, BYD's international expansion is gaining momentum, with European registrations nearly quintupling and exports expected to double from 2024.
The company unveiled a new mini-EV for Japan and increased R&D spending by 31%, while also issuing a recall for over 115,000 vehicles.
El beneficio neto del tercer trimestre de BYD se redujo un 33% interanual en medio de una disminución de las ventas y de la competencia, aunque continúan el crecimiento internacional y la I+D.