BYD projects annual sales increase despite EV market cooling
Updated
Updated · Bloomberg · May 11
BYD projects annual sales increase despite EV market cooling
13 articles · Updated · Bloomberg · May 11
The Shenzhen-based carmaker expects 3.5 million to 4 million domestic sales this year, implying home-market growth of up to 13%.
JPMorgan said the forecast followed a post-holiday briefing with management and was stronger than analyst expectations for flat volumes or a moderate decline.
BYD is betting on a brighter domestic outlook and aggressive global expansion to keep growing even as broader electric-vehicle demand shows signs of cooling.
With its home market sales plummeting, is BYD's optimistic forecast a bluff or a global power play?
As rivals lose billions on EVs, what is the secret to BYD's massive cost advantage and profitability?
Are Western nations trading national security for the immediate benefits of affordable Chinese electric cars?