BYD's pursuit of Tesla comes at a price. Now the value of the Chinese brand is rattling down on the stock market after a disappointing account.
The Chinese brand BYD will be the world's largest car manufacturer. But the car brand's accounts leave much to be desired.
And the shareholders are now punishing them for that. The value of BYD's immediately fell by 5 percent after the car brand presented an account that did not live up to expectations.
Specifically, the BYD share is falling because the Chinese have not been able to deliver the profit that was otherwise expected of them. However, BYD defends itself by saying that it sold a record number of cars in 2023.
This is written by the financial media Bloomberg .
Just as the brand believes it has sold more cars outside of China. At home, however, motorists still stay away from BYD, which has just teamed up with a controversial garage chain on a service agreement, and this is reflected in the sales figures.
Last year, 465 Danes bought a new BYD. According to Bilstatistik.dk, it is not even enough for BYD's share of the Danish market to be calculated as a percentage.
In all fairness, BYD was indeed moving forward globally. With 3.02 million cars sold, the Chinese could note a total progress of 62 percent compared to the previous year. But the earnings per car is therefore missing. In any case, it is lower than expected.
