Chinese automotive giant BYD Co. announced on Tuesday that its net profit for the first quarter of 2025 could more than double compared to the same period last year. This statement comes after a slow start to the year when the company sold over 1 million vehicles. According to preliminary reports, the net profit for the three months ending March 31 is expected to reach between 8.5 billion and 10 billion yuan, equivalent to approximately 1.2 to 1.4 billion U.S. dollars. This implies a profit growth of 86-119% compared to last year's first-quarter profit of 4.6 billion yuan.
Mercedes-Benz Group AG is continuing to face challenges in its largest market - China. Confronted with intense competition and a pricing war, European automakers, including Mercedes, are under significant pressure. This article explores the reasons behind the decline in sales and the successful strategies of Chinese manufacturers.
BYD Co. $1211.HK , one of the leading global electric vehicle manufacturers, has announced its plans to build a third factory in Europe. This step is aimed at expanding its presence in the market, particularly in light of increased tariffs on electric vehicle imports from China. Stella Li, the company's Executive Vice President, shared insights about potential locations and timelines for the decision during a recent press conference in Frankfurt.
Mercedes-Benz Group AG $MBG.DE and its subsidiaries are preparing to lay off up to 15% of their workforce in China. This decision reflects the increasing competition faced by the German automaker in the world's largest automotive market, where it is experiencing rising challenges from local manufacturers.
