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FT商學院

BYD quarterly sales beat Tesla for first time

Warren Buffett-backed Chinese carmaker』s revenues surge 24 per cent but fierce competition slims margins

China’s biggest electric vehicle maker BYD has posted higher quarterly revenues than US rival Tesla for the first time, but a bruising price war in its domestic market dragged on its profitability. 

BYD revenues for the third quarter reached Rmb201bn ($28.2bn), surpassing the $25.2bn sales that Tesla reported last week. The Warren Buffett-backed carmaker sold a record 1.1mn cars in the three-month period, boosted by a new round of Chinese government subsidies for EVs.

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