BYD's annual profit drops for first time in four years as price war hurts margins
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BYD's net profit fell 19 per cent to 32.6 billion yuan (US$4.72 billion), with chairman Wang Chuanfu saying competition has reached "fever pitch". BEIJING: BYD, China's biggest electric a utomaker by sales, on Friday (Mar 27) posted a b igger-than-expected profit drop and disclosed a headcount fall for the first time , hu rt by weak sales in its home market. Net profit f ell 19 per cent to 32.6 billion yuan (US$4.72 billion), B YD said in a stock exchange filing, its first annual profit drop in
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