BYD posts US$1.2 billion profit in second quarter on surging global demand
China’s electric vehicle (EV) giant BYD saw its earnings jump 30 per cent in the three months from April to June, ending a five-quarter losing streak as buoyant overseas sales and premium models enhanced its net margin and profitability. The Shenzhen-based carmaker, also the world’s largest EV builder, posted a net income of 8.2 billion yuan (US$1.2 billion) in the second quarter, up 30 per cent…
In the second quarter, BYD, the world's largest EV builder, reported a net income of 8.2 billion yuan (US$1.2 billion), marking a 30 per cent year-on-year increase and ending a five-quarter losing streak. The Shenzhen-based company's earnings surpassed analysts' expectations, with revenue falling 3 per cent to 194.6 billion yuan.
From April to June, BYD sold 471,091 vehicles outside mainland China, a 82.5 per cent year-on-year rise. On the mainland, the average net profit margin per vehicle is about 5,000 yuan (US$744), while overseas markets could yield four times higher margins at 20,000 yuan, given Chinese cars' higher selling prices abroad. Despite the strong second-quarter performance, BYD's net profit for the first half of 2026 fell 20.5 per cent compared to the previous year, primarily due to weaker domestic demand and increased raw material costs.
Overall, Chinese EV deliveries declined 3.9 per cent to 951,000 units in July, with Chinese carmakers reporting a 12.5 per cent drop in EV deliveries during the first seven months of the year.
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