Page 23 - Byd News Today

Now that the EV market slowdown has been attested by Tesla and BYD's most recent sales results, everyone and their mother are wondering what happens next

China’s overcapacity is all but certain to be the main point of contention in coming talks with Janet Yellen, as the US Treasury secretary has begun her trip with strong words on the subject.

Plus, Fisker and Canoo are having money problems, and BYD has been dethroned as the top EV seller worldwide

Shares of Boyd Group Services Inc. (TSE:BYD – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have given a buy recommendation and […]

Tesla has canceled its affordable Model 2 car, which was expected to drive the companys growth into a mass-market automaker. The decision comes as Tesla faces fierce competition from Chinese electric-vehicle makers, who are offering cars as low as $10,000. The new plans call for robotaxis to be produced in much lower volumes than the projected Model 2, with Teslas cheapest current model, the Model 3 sedan, retailing for about $39,000 in the US. Tesla shares were down about 3% in early afternoon ...

Asian equities were mixed overnight as South Korea and Japan underperformed following Minneapolis Fed President Neel Kashkari stating that there might not be interest rate cuts in 2024 if inflation remains “sideways”. The sideways comments led investors to ease their pain with some red wine, but not Merlot!

Setting up shop in Mexico helps avoid US tariffs, but Chinese companies still must confront major concerns about labour costs, profitability and cultural differences.

Tesla faced a sharp decline in quarterly sales, sparking concerns about Elon Musks leadership as competitors like BYD, Kia, and Hyundai saw increases in electric vehicle sales. The market is shifting, with mainstream buyers possibly put off by Teslas unconventional design and service issues. The company must address challenges to regain momentum.

BYD, China's biggest electric vehicle maker, reported first quarter 2024 sales fell 43% compared to the fourth quarter of 2023, handing back the title of world's biggest EV seller to Tesla after winning it last year.

Xiaomis newly launched SU7 EV sold out its 2024 inventory in just 24 hours, signifying a strong demand for the vehicle.