- BYD reported vehicle sales of 122,311 units in February, down 37% from the same period last year when they sold 193,655 units.
- The company’s passenger vehicle sales also saw a decline, with 121,748 units sold, a decrease of 36% year on year.
- Sales of battery passenger electric vehicles dipped as well, with 54,908 units sold, marking a 39% decrease year on year.
- Plug-in hybrid passenger electric vehicle sales were down by 34%, with 66,840 units sold.
- Year-to-date vehicle sales stood at 323,804 units, a decline of 6.1% compared to the same period last year.
- BYD‘s stocks received 37 buys, 1 hold, and 1 sell rating from analysts.
- All comparisons to past results are based on values reported by the company in their original disclosures.
BYD on Smartkarma
BYD, a Chinese electric vehicle manufacturer, has received positive analyst coverage on Smartkarma, an independent investment research network. According to Ming Lu‘s research report, BYD is estimated to have seen a significant increase in net profit of 74% to 86% in 2023. This is in line with the company’s strong performance, as evidenced by its delivery of 31,165 vehicles in January 2024, a 106% increase compared to the previous year. In addition, there are rumors that Alibaba, a leading e-commerce company, will sell its supermarket brand, RT-Mart. With this positive outlook, BYD is expected to continue its growth in the electric vehicle market.
In another report by Henry Soediarko, BYD is compared to Tesla, with BYD surpassing Tesla as the top electric vehicle maker in December 2023. Tesla has also suspended work at its Berlin factory due to tensions in the Red Sea, while BYD‘s supply chain is all within China. According to the report, BYD is trading at a deep discount compared to Tesla, making it an attractive investment opportunity.
Ming Lu also covers BYD in his report on the growth of the Chinese electric vehicle market. Despite a recent plunge in all NEV (new energy vehicle) stocks, BYD‘s sales volume grew by 62% in 2023, higher than the industry average of 36%. This indicates BYD‘s strong position in the market and the potential for a 61% upside for investors.
In Ming Lu‘s China Consumption Weekly report, it is highlighted that Chinese NEV producers saw a rapid growth in deliveries in 2023. This includes BYD, which has been performing well in the market. Additionally, there have been significant changes in the industry, such as PDD closing down its “local life” businesses and Jack Ma stepping down as the controller of AliPay, the largest online payment app in China. These developments could have an impact on the market and BYD‘s performance in the future.
A look at BYD Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.2 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, the long-term outlook for BYD is looking positive. The company has received a score of 5 for growth, indicating strong potential for expansion and development in the future. This is supported by the company’s focus on research and development, particularly in the production of batteries for various electronic devices.
Additionally, BYD has received a score of 4 for resilience, indicating the company’s ability to withstand challenges and maintain stability. This is important for long-term success and sustainability. However, the company has received lower scores in other areas such as value and dividend, suggesting that investors may need to carefully consider these factors before making any decisions.
Overall, BYD‘s strong growth and resilience scores indicate a promising future for the company. However, investors should carefully evaluate all factors, including the company’s value and dividend scores, before making any investment decisions. BYD‘s focus on research and development and its diverse product offerings, including automobiles and batteries, make it a company worth keeping an eye on in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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