BYD offers discount for some EV models in December Share down 16.19% in 3 months
$BYD COMPANY (01211.HK)$ The article reported that China's electric vehicle giant BYD Co Ltd on Friday announced subsidies for some models and a discount of up to 20,000 yuan ($2,803) in December for buyers who are switching from oil to electric cars.
BYD in March set a target to sell 3 million vehicles by the end of this year, local media Yicai has reported. ($1 = 7.1353 Chinese yuan renminbi)
BYD in March set a target to sell 3 million vehicles by the end of this year, local media Yicai has reported. ($1 = 7.1353 Chinese yuan renminbi)
According to Market Watch, BYD share price down 16.19% in 3 months and only +6.96% YTD low compared to other Chinese EV stocks and Tesla.
BYD EV price cutting is not a rumour afterall. It showed that BYD is facing immense pressure to meet the year end sales target. The price cutting will certainly affect its revenue and profit margin.
Related articles:
1) Share price down 5.6% after dealers released news about BYD EV price reduction
2) BEV Q1-Q3 2023 registration share Tesla (20.1%) beats BYD (15.9%)
BYD EV price cutting is not a rumour afterall. It showed that BYD is facing immense pressure to meet the year end sales target. The price cutting will certainly affect its revenue and profit margin.
Related articles:
1) Share price down 5.6% after dealers released news about BYD EV price reduction
2) BEV Q1-Q3 2023 registration share Tesla (20.1%) beats BYD (15.9%)
Source:
$BYD COMPANY (01211.HK)$ $BYD Co. (BYDDF.US)$ $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Tesla (TSLA.US)$ $VOLKSWAGEN A G (VWAGY.US)$ $NIO Inc (NIO.US)$ $Li Auto (LI.US)$ $XPeng (XPEV.US)$ $General Motors (GM.US)$ $Ford Motor (F.US)$ $Rivian Automotive (RIVN.US)$ $MERCEDES-BENZ GROUP AG (MBGAF.US)$ $TOYOTA MOTOR CORP (TOYOF.US)$ $GEELY AUTO (00175.HK)$ $Stellantis NV (STLA.US)$
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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72734102 : They should stop misrepresenting their real retail sales to investors! Selling to your own dealers isn’t a retail sale! Sec should investigate.
ZnWC OP 72734102 : Care to share the media that report this?