BYD’s net profits in Q3 soared 582% y/y

BYD Auto, Industry News | Ash | October 31, 2011 at 3:28 pm

BYD’s fiscal report for the third quarter shows that the company’s operating revenues in the first three quarters of this year decreased 4.34% from a year earlier to 34.334 billion yuan, and its profits in the period fell 85% from a year earlier to 352 million yuan.

The company’s operating revenues in the third quarter increased 10.95% from a year earlier, and its net profits soared 582% from a year earlier to 77.37 million yuan.

Data shows that BYD’s vehicle sales in the Jan-Sep period rose about 9.1% from a year earlier to 94,024 units. The sales of BYD’s first SUV, the S6 continue to keep the company extremely busy. The G6 was launched also launched in September. Its high-end all-electric car e6, targeting at private consumers, was launched on October 26.

BYD predicts that the company’s full-year performance will decline by between 35% and 65% from a year earlier.

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.

Website - More Posts