BYD's First-Quarter Profit Plunges 55% to Lowest Since 2023

Chinese electric vehicle manufacturer BYD reported a 55% year-on-year decline in net profit for the first quarter of 2025. According to the company's financial results, profit for the period fell to its lowest level since 2023. The decline comes as BYD faces competitive pressure and rising costs in the global EV market. The company noted that intensifying price wars in China's domestic market and higher supply chain costs have negatively impacted profitability. The sharp drop in BYD's first-quarter profit has heightened investor concerns about the company's growth momentum and financial sustainability. Analysts expect BYD to focus on cost control and new model launches in an effort to restore profitability in the coming period. This is not investment advice.