BYD's 4Q Profit Per Car Could Rise on Scale Effect, Better Product Mix -- Market Talk

Dow Jones11-06

0318 GMT - BYD's net profit per car could rise to over 11,000 yuan in 4Q on increasing scale effect and better product mix, Jefferies analysts say in a research note. The EV maker's 4Q sales volumes could reach 1.54 million units supported by strong demand after its record high sales volume in October, they say. South America has emerged as a significant growth driver for BYD's exports this year, while Southeast Asia and Europe remain key markets, the analysts note. In light of BYD's stronger-than-expected monthly sales volume, Jefferies raises its 2024 and 2025 sales? volume forecasts to 4.3 million and 5.2 million units, respectively. Jefferies maintains a buy call on BYD and raises the target to CNY426.00 from CNY356.00. BYD's A Shares are last 1.3% lower at CNY303.42.(sherry.qin@wsj.com)

(END) Dow Jones Newswires

November 05, 2024 22:18 ET (03:18 GMT)

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The EV maker's 4Q sales volumes could reach 1.54 million units supported by strong demand after its record high sales volume in October, they say. South America has emerged as a significant growth driver for BYD's exports this year, while Southeast Asia and Europe remain key markets, the analysts note. In light of BYD's stronger-than-expected monthly sales volume, Jefferies raises its 2024 and 2025 sales? volume forecasts to 4.3 million and 5.2 million units, respectively. Jefferies maintains a buy call on BYD and raises the target to CNY426.00 from CNY356.00. 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