China's new energy automaker, BYD, reported a threefold uptick in profit over the course of the first half of 2023, down from an even stronger Q1.
, BYD set a monthly sales record in July after deliveries hit 700,244 vehicles in the second quarter.at the start of the year and which has drawn in over 40 brands.
BYD has also joined a wave of Chinese EV makers looking abroad, with showrooms in countries such as Singapore and. Of the 612,425 battery-only EVs sold by BYD in the first half, 10% were exports, according to data from the China Association of Automobile Manufacturers. Tesla sold 889,015 EVs globally in the same period.
Tesla recorded a decline in quarterly automotive gross margin in the second quarter, prioritising sales over earnings.
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