BYD Reports 55% Drop in Q1 2026 Profit Amid Intensifying EV Price War
BYD reported a 55% decline in net income to 4.08 billion yuan ($597 million) in Q1 2026, driven by an ongoing EV price war with competitors like Xiaomi and Geely. Total sales fell 12% year-over-year to 150.2 billion yuan, with international shipments rising sharply but domestic demand remaining weak.
Topics: BYD Earnings EV Industry Market Competition Price War Profit Decline