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3h ago

BYD Profit Plunges 55% as China EV Squeeze Deepens

Subsidy cuts in China are pushing carmakers to chase growth overseas.

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Die neue S-Klasse GUARD. Stuttgart, 2026. Mercedes‑Benz S 680 GUARD 4MATIC | Energieverbrauch kombiniert: 19,1 l/100 km | CO₂-Emissionen kombiniert: 434 g/km | CO₂-Klasse: G[1] [1] Die angegebenen Werte wurden nach dem vorgeschriebenen Messverfahren WLTP (Worldwide harmonised Light-duty vehicles Test Procedures) ermittelt. Der Energieverbrauch und der CO2-Ausstoß eines Pkw sind nicht nur von der effizienten Ausnutzung des Kraftstoffs bzw. des jeweiligen Energieträgers durch den Pkw, sondern auch vom Fahrstil und anderen nichttechnischen Faktoren abhängig.;Mercedes‑Benz S 680 GUARD 4MATIC | Energieverbrauch kombiniert: 19,1 l/100 km | CO₂-Emissionen kombiniert: 434 g/km | CO₂-Klasse: G* The new S-Class. GUARD Stuttgart, 2026. Mercedes-Benz S 680 GUARD 4MATIC | Combined fuel consumption: 19.1 l/100 km | Combined CO₂ emissions: 434 g/km | CO₂ Class: G[1] [1] The figures provided were determined in accordance with the prescribed WLTP (Worldwide Harmonised Light-Duty Vehicles Test Procedure) measurement method. A vehicle's fuel consumption and CO2 emissions depend not only on the efficient utilization of fuel or energy source by the vehicle itself, but also on driving style and other non-technical factors.;Mercedes-Benz S 680 GUARD 4MATIC | Combined fuel consumption: 19.1 l/100 km | Combined CO₂ emissions: 434 g/km | CO₂ Class: G*

Overview

  • BYD, which reported Tuesday, said first‑quarter net income fell to about CN¥4.09 billion as revenue slid 11.8% to CN¥150.23 billion.
  • The company delivered 700,463 vehicles in the quarter, with exports accounting for roughly 45% after overseas shipments rose more than half year over year.
  • BYD says it is targeting 1.5 million overseas sales in 2026 to offset weaker home demand.
  • China’s removal of purchase‑tax breaks for short‑range plug‑in hybrids led to a 62% year‑on‑year drop in BYD’s domestic PHEV deliveries.
  • The China slowdown is hitting global rivals too, with Mercedes reporting Q1 net profit down about 17% as China sales fell 27% and Geely and Chery also posting double‑digit declines.