US EditionBYD's Annual Profit Drops for First Time in Four Years as Price War Hurts Margins
BYD's profit fell 19% to 32.6 billion yuan due to intense domestic price competition and subsidy cuts despite record 804 billion yuan revenue and overseas growth.
- On Friday, Shenzhen-based BYD reported its first annual profit drop since 2021, with net profit falling 19% to 32.6 billion yuan amid intense domestic price competition.
- Chairman Wang Chuanfu wrote in the earnings report that competition in the new energy vehicle industry has reached a 'fever pitch,' characterizing it as a 'brutal 'knockout stage'.'
- Although revenue grew 3.5% to 804 billion yuan in 2025, the automaker disclosed a workforce reduction of 10.2% to 869,622 employees, reflecting cost pressures.
- BYD aims to sell around 1.3 million vehicles overseas in 2026, up from about 1.05 million last year, prioritizing international expansion to offset domestic weakness.
19 Articles
19 Articles
Associated Press News
China's BYD sees first profit drop since 2021, even as the Tesla-rival takes global EV crown
Chinese automaker BYD reports its annual revenue rose to a record $116 billion last year, outpacing Tesla's, but profit fell for the first time since 2021 under pressure from cutthroat competition.
In 2025, BYD’s profits fell for the first time in four years due to bad behaviour in the Chinese market, where it lost its presence against competitors such as Leapmotor and Geely. Through a statement, BYD reported that during the year its net profit fell 19%, to 32.600 million yuan, equivalent to 4.720 million dollars (mdd). These results were worse than investors expected, as the market predicted a decrease of 12.1%. The automotive revenues in…
Profit decline instead of growth spurt: China's electric car champion BYD reports its first profit slump in four years. Price competition in its home market is pushing net profit down by 19 percent in 2025.
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