"BEIJING (Reuters) -Chinese automaker BYD said on Saturday its October sales dropped 12% from the same month a year earlier to 441,706 vehicles."
"The company sold 502,675 vehicles in October 2024."
"BYD reported a nearly 33% drop in third-quarter profit on Thursday."
"Revenue was down 3% for the quarter, the first such decline in more than five years, reflecting increasing competition from domestic rivals."
BYD's October vehicle sales fell 12% year‑on‑year to 441,706 vehicles. The company had sold 502,675 vehicles in October 2024, showing a notable year‑on‑year decrease. The update on global deliveries was posted on Weibo by a BYD executive responsible for marketing and public relations. BYD's third‑quarter profit declined nearly 33% compared with the prior period. Quarterly revenue fell 3%, marking the first revenue decrease in more than five years. The revenue contraction reflected increasing competition from domestic rivals. The combined declines in sales, profit and revenue indicate mounting market pressure on BYD from domestic competitors.
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