BYD’s third-quarter profit fell short of expectations — OilPrice

Chinese electric vehicle manufacturer BYD posted net profit of 10.02 billion yuan, or $1.5 billion, in the third quarter of 2026. This was 28% higher than a year earlier, but below analysts’ expectations of around 11.1 billion yuan, OilPrice reports.

The company’s quarterly revenue rose by 13.6% to 221.5 billion yuan, or $33.3 billion, also falling short of market forecasts. Over the first nine months of 2026, BYD’s net profit declined by 4.2% to 22.34 billion yuan, while revenue was nearly unchanged at 566.3 billion yuan.

Competition in the domestic market

OilPrice attributes BYD’s weaker-than-expected quarterly results to fierce competition and slowing demand in China’s domestic market. The company is increasingly relying on higher-margin international sales to maintain profitability.

More current news is available on the UA.News Telegram channel Telegram.

Geely Automobile’s net profit in the third quarter also rose by 28% to 4.84 billion yuan, or $726 million, but came in below analysts’ forecast of 5.19 billion yuan. Geely’s quarterly revenue increased by 10% to 98.96 billion yuan, while underlying net profit rose by 32% to 5.21 billion yuan.

Betting on overseas sales

Geely sold around 812,500 vehicles during the quarter, while its exports more than doubled to 323,442 vehicles. Both automakers are expanding their presence abroad, including in Europe.

The European Union has already imposed additional duties on battery electric vehicles made in China and is considering measures to restrict imports of Chinese hybrids. BYD is expanding its production capacity in Europe: its plant in Hungary is expected to begin mass production by the end of 2026. Geely, for its part, is developing its international operations, including through a manufacturing partnership with Ford in Spain.