BYD’s October vehicle sales down 12% from year earlier

BEIJING (Reuters) -Chinese automaker BYD said on Saturday its October sales dropped 12% from the same month a year earlier to 441,706 vehicles.

The update on global deliveries came in a post on Weibo by a BYD executive in charge of marketing and public relations.

The company sold 502,675 vehicles in October 2024.

BYD reported a nearly 33% drop in third-quarter profit on Thursday. Revenue was down 3% for the quarter, the first such decline in more than five years, reflecting increasing competition from domestic rivals.

(Reporting by Beijing NewsroomEditing by Mark Potter)