Motoring

BYD’s ‘earnings miss’ triggers worst stock selloff in two months

Shares in the EV maker fell as much as 4.7 per cent in Hong Kong after the firm missed 2023 earning by less than a 1 billion yuan

BYD’s profit per vehicle likely declined by 25 per cent sequentially in the fourth quarter, Morgan Stanley analysts wrote in a report Tuesday. Picture: Getty

In China’s highly competitive electric vehicle market, even a small earnings miss is conspicuous news as BYD found out Wednesday.

It missed 2023 earnings estimate by less than a 1 billion yuan (€127.7 million), raising questions over whether China’s largest EV maker can sustain strong profit growth while fending off an intense price war. Its stock fell even though it almost tripled the final dividend payout.

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