Chinese company BYD recorded its biggest quarterly profit drop in more than four years, with a 32.6% contraction in the third quarter compared to the same period in 2024, according to a balance sheet published this Thursday (30). The result represents the second consecutive quarter of decline and reflects the advance of domestic competition in the Chinese electric vehicle market, especially from brands such as Geely and Leapmotor, which have been gaining ground in the segment of more affordable models.

Net profit totaled 7.8 billion yuan, while revenue fell 3.1% to 195 billion yuan, the first decline since 2020. With the loss of market share in China — which fell from 18% to 14% in one year — BYD revised its sales target for 2025 downwards, reducing it by 16% to 4.6 million vehicles.

Nevertheless, the automaker is betting on international expansion, focusing on Europe and Japan, and continues to offer discounts to maintain its competitive position in an increasingly competitive sector.