English
Back
Download
Clear
All
Quotes
News
Learn
Help
All
US
HK
CN
SG
AU
JP
All
News
Announcements
No matches yet
Operations too frequent. Please try again later.
Please check network settings and try again Refresh Refresh
Loading
History record
    Latest News
      Quotes More
      News More
      Learn More
      Help More
      Loading
      News More
      Announcements More
      Reports More
      Log in to access Online Inquiry
      Back to the Top
      Monthly Journal: Traders' Insights Wanted!
      Views 363K Contents 3991

      BYD BEV Q2 2024 only +20.98% YoY and NEV export +7.7% QoQ nearly flat

      1) I will compare BEV (battery electric vehicle) sales because the PHEV (plug-in electric vehicle) is not pure EV as it still has an internal combustion engine or ICE. From the BYD sales data, more than 50% are from PHEV. I will also compare quarterly sales because that data will reflect more accurately how the carmaker performs as it will also report the quarterly earnings a month later.
      2) There's no surprise in BYD Q2 2024 sales - BEV growth compared to Q1 remains weak despite price cutting and NEV (new energy vehicle) export is nearly flat. Note that BYD didn't provide export data for BEV separately NEV=BEV+PHEV. Hence it is logical to assume that BEV export growth will be even smaller. The overseas NEV delivery will be further weakened when the EU imposes new tariff 20+2% starting in July.
      3) As usual, the Chinese media painted a rosy picture of the Q2 sales ignoring the challenges. For those who want to read the full content, I have put the link below. Here is the data:
      BYD's passenger BEVs sold 426,039 units in Q2 2024, +20.98% YoY and +41.96% QoQ.
      BYD BEV Q2 2024 only +20.98% YoY and NEV export +7.7% QoQ nearly flat
      Passenger PHEVs sold 556,708 units in Q2 2024, +59.94% YoY and +71.67% QoQ.
      BYD BEV Q2 2024 only +20.98% YoY and NEV export +7.7% QoQ nearly flat
      BYD sold 105,505 NEVs in overseas markets in Q2 2024, +196.65% and +7.77% QoQ.
      BYD BEV Q2 2024 only +20.98% YoY and NEV export +7.7% QoQ nearly flat
      BYD stock performance after announcing Q2 sales data: -1.64%
      Is the falling share price a reflection of a weaker than expected delivery will depend on what you believe in.
      BYD BEV Q2 2024 only +20.98% YoY and NEV export +7.7% QoQ nearly flat
      Source:
      Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
      +2
      2
      Translate
      Report
      38K Views
      Comment
      Sign in to post a comment
      • RedDevil7 : Price drop is all a matter of EU tariff...... Speculation is taking position for a quick drop and ready for the next ride. Trust me. Nobody will win the race against BYD for the mid and long term

      • ZnWC OP RedDevil7 : It depends on what you believe. I support the possibility that Tesla and BYD can coexist in a partnership (win-win).

      avatar
      ZnWC
      Moo Contributor
      I reflect trading experience by writing journals. My posts and comments are for education purpose not financial advice.
      3639
      Followers
      107
      Following
      13K
      Visitors
      Follow
      Discussing
      Trump 2.0 Era: How will global markets evolve?
      🎙️Discussion: 1. How will tariff policies affect the movement of key assets such as U.S. stocks, gold, and Bitcoin? 2. Given this context, Show More
      How will you adjust your portfolio under Trump's tariff impact?
      55%
      45%
      🚀Risk Assets
      🛡️Safe-Haven Assets
      1291 votes