BYD misses Q1 revenue estimates

By Agence France-Presse

May 01, 2024 12:16 am

SHANGHAI: Major Chinese electric carmaker BYD reported lower-than-expected revenue for the first quarter (Q1) of 2024 on Monday, as an aggressive domestic price war and Western regulatory pressure weighed on the company's growth.

BYD posted an operating revenue of 124.94 billion yuan ($17.25 billion) for the first three months of the year, up 3.97 percent from a year ago, according to a stock exchange filing.

MISSED People visit the BYD stand at the Beijing Auto Show on Monday, April 29, 2024. The Chinese EV giant did not meet its expected revenue targets for the first quarter citing price wars and Western regulations, it reported on Monday. AFP PHOTO

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