BYD Earnings Miss Estimates as China's EV Price War Takes Its Toll
Mexico’s Richest Man Sells $1.15 Billion in Oil Stocks Chinese electric vehicle giant BYD reported weaker-than-expected third-quarterearningson Thursday, highlighting the growing challenges facing China's automakers even as overseas sales continue to surge.
BYD's net profit rose 28% year-over-year to 10.02 billion yuan ($1.5 billion), missing analysts' expectations of approximately 11.1 billion yuan.
Revenue increased 13.6% to 221.5 billion yuan ($33.3 billion), also falling short of market forecasts.
The earnings miss comes as the Chinese automaker struggles with fierce competition and slowing demand in its domestic market, increasingly relying on higher-margin international sales to support profitability.
Despite the quarterly improvement, BYD's net income for the first nine months of 2026 declined 4.2% to 22.34 billion yuan, while revenue remained virtually unchanged at 566.3 billion yuan.
However, BYD isn't the only Chinese automaker feeling the pressure.
Domestic rival Geely Automobile also reported third-quarterresultson Thursday, with net profit climbing 28% to 4.84 billion yuan ($726 million), below analysts' expectations of 5.19 billion yuan.
Geely's quarterly revenue rose 10% to 98.96 billion yuan, while core net profit jumped 32% to 5.21 billion yuan.
The company sold approximately 812,500 vehicles during the quarter, with exports more than doubling to 323,442 units.
The contrasting results underscore a broader transformation of China's automotive industry, where manufacturers are increasingly looking overseas to escape intense domestic price competition.
As previouslyreportedby Oilprice.com, record gasoline and diesel prices have accelerated Europe's transition toward electric vehicles, with battery-electric vehicle registrations surging 60% year-over-year in September.
BYD was among the biggest beneficiaries, with European sales more than doubling.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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