BYD profit drops 30%, but 5.5 million sales remains doable

BYD has released its Q2 earnings, reporting a rare 30% decline in its profit to CN¥6.4bn (US$895m)—the Chinese automaker's first year-over-year earnings drop since early 2022. It pinned the disappointing results on brutal domestic price competition, despite revenue climbing 14% to CN¥201bn during the three-month period.