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Investing.com -- BYD reported a decline in quarterly earnings as competition and regulatory scrutiny in China’s electric vehicle market weighed on performance.
The Chinese automaker said third-quarter net profit fell 33% year on year to 7.82 billion yuan ($1.1 billion), below analyst expectations of 9.02 billion yuan, according to Visible Alpha data.
Revenue slipped 3% to 194.98 billion yuan, also missing forecasts of 215.30 billion yuan.
The weaker results underscore the pressure BYD faces as it tries to shift from being known for affordable EVs to positioning itself as a premium global brand.
Domestic demand has softened after Beijing urged automakers to curb price discounting, ending a protracted price war that had boosted sales volumes but eroded margins. BYD’s sales dropped 2.1% in the third quarter, marking its first decline since 2020.
For the first nine months of 2025, the company’s net profit fell to 23.33 billion yuan from 25.24 billion yuan a year earlier, while revenue rose to 566.27 billion yuan.
Despite the slowdown at home, BYD is making headway abroad. New-car registrations in Europe surged nearly fivefold in September to 24,963 units, data from the European Automobile Manufacturers’ Association showed.
The company also launched a battery-powered kei car tailored for Japan, underscoring its push into markets dominated by domestic brands.