Business

BYD Posts First Annual Profit Decline in Over 4 Years
By Reuters | 27 Mar, 2026

China's biggest electric vehicle maker was hurt by weak sales in its home market amid fierce EV competition.

BYD, China's biggest electric vehicle maker by sales, on Friday posted its first annual profit drop in four years, hit by weak sales in the world's largest auto market.

Net profit slid 19% to 32.6 billion yuan ($4.72 billion), the automaker said in a stock exchange filing. That compared with an average 12.1% fall expected by analysts polled by LSEG.

Revenue grew 3.5%, the weakest rate in six years.

For the three months through December, profit fell 38.2% from a year earlier to 9.3 billion yuan, a third consecutive quarter of decline.

($1 = 6.9130 Chinese yuan renminbi)

(Reporting by Qiaoyi Li, Zhang Yan and Ju-min Park; Editing by Christopher Cushing and Jan Harvey)