BYD reported a 55% drop in net income for the first quarter of 2026. An intense domestic price war eroded profit margins and led to seven consecutive months of declining sales in China. This performance marks the company's first annual profit decline since the pandemic.
Chairman Wang Chuanfu described the current domestic competition as a brutal knockout stage. In response, BYD is accelerating its global expansion to drive future growth.
The company aims to export 1.5 million units in 2026. BYD is deploying its own fleet of cargo ships to manage international logistics. New models like the Dolphin G plug-in hybrid will target the European market.